Our Conveyancing Fees and Costs

No matter if you are buying or selling real estate, you will need to budget for certain costs.

Buying and selling property involves fees and government charges that you need to be aware of, and prepared for.

Conveyancing Costs

 

Australia
Overseas
Purchasing
$999 + GST
$999 + GST
Selling by Auction
$940 + GST
$940 + GST
Selling by Private Treaty
$870 + GST
$870 + GST

*excluding international courier charges
# A small minority of property transactions incur extra costs, these are normally incurred because you, your selling agent or mortgagee have requirements outside what are typical for a standard conveyancing transaction. Non-residential property transactions incur an additional fee.

Purchasing Costs

Mortgage Brokerage Fees
This is generally a free service, however, some brokers require a consultation fee upfront. Choosing the right mortgage broker can save you thousands of dollars and weeks of stress.

We deal with the best mortgage brokers in Melbourne who provide a free service to our clients and we will happily give you a recommendation.

Mortgagee/Bank Fees
These fees vary between financial institutions. Be aware of hidden costs, such as early repayment fees, bank cheque fees, mortgage insurance, settlement fees, etc. Your loan offer documents list these costs, so make sure you read them carefully.

Building/Pest Inspections
Inspection costs can vary from $300 to $600. Please call our office on 1800 727 432 for a referral to our recommended building inspector.

Stamp Duty
You can find out the Stamp Duty payable using the State Revenue Office Stamp Duty Calculator.

Registration Fees
The Victorian Land Titles Office calculates Transfer Registration (paper transaction) fees as $94.60 + $2.34 for every whole $1,000 of the monetary consideration. This fee does not exceed $3,603.

Rates
The vendor pays the following prior to, or at settlement:

  • Council rates
  • Water authority
  • Land tax
  • Owner’s Corporation rates

These costs are calculated prior to settlement in a Statement of Adjustments document. The purchaser must reimburse the vendor for amounts paid beyond settlement day.

Selling Costs

Agents Commission/Fees
Agents’ fees are usually based on a percentage of the final sale price. Agents are competitive, so you can compare and negotiate costs. You might also consider a Vendors Advocate to select and negotiate with the selling agent on your behalf.

Costs to Discharge a Mortgage
The Land Titles Office (paper transaction) charges $114.90 to withdraw each registered mortgage. Your financial institution will also charge fees to end the mortgage. These may be particularly high if you have a “fixed loan”.

Rates
As vendor, you must pay council rates, water authority, land tax and owner’s corporation rates prior to, or at settlement. If the rates are unpaid, the purchasers’ representative will ensure cheques for these rates are drawn at settlement. However, the purchaser will reimburse you for their portion. This is calculated in a document called Statement of Adjustments.

ATO Capital Gains Withholding
The Australian Taxation Office (ATO) withholding regime will apply to contracts entered into on or after 1 July 2016, where a *foreign resident disposes of certain taxable Australian property.

Under the new rules, the purchaser must withhold 10% of the purchase price at settlement, where the market value of the property is valued $2 million or more unless the vendor shows the purchaser a valid clearance certificate from the ATO. Otherwise the purchaser will be required to withhold 10% of the purchase price and pay that amount to the Australian Taxation Office (ATO).

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