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  1. #1
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    Default Other fees / expenses when buying / selling a house

    So I am looking to sell my house and purchase another property. I am trying to work out figures (if we sell our house for X amount, what we will have to buy another property etc), but I am unsure about other costs to factor in such as

    - Agent fees
    - Stamp duty
    - Solicitor fees
    - Bank fees (borrow extra money)
    - ??

    Can someone please tell me what the above estimates are and any other hidden costs. Thanks

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    Also factor in costs of moving - not just removalists but reconnecting gas, power, pay tv, internet etc.

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    If you have a mortgage to be released, you need to find out what are the financier's exit fees, on top of your payout (this can range anywhere from $2000-$20000.

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    - Agent fees $15,000
    - Stamp duty $15,000
    - Solicitor fees (sale) $650 (purchase) $15000
    - Bank fees (borrow extra money) (sale) $200 plus exit fees (purchase) $750-$1000 for each loan set up

    ETA: I've based this on QLD fees and they are only averages (give or take)...
    Last edited by babylove81; 27-02-2012 at 21:32.

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    We are in WA and about to put our house on the market for around $570K and the agents fees will be between $15-18K (talk about an easy way to make money in my opinion).

    Stamp duty depends on the value of the house you buy and you can calculate it by looking at the State Revenue Office Victoria website. Again for our house it was around $20-25K when we purchased it.

    We re-financed a couple of mortgages but I think one exit fee was $1,000.00 (not quite sure if that is correct).

    We paid $1,500 for the settlement agent (I do not know about Victoria but you do not have to use a solicitor here to do the conveyancing, but you can if you choose to do so).

    I assume this also applies in Victoria but we also had to pay for pest control report ($400ish) and a structural report ($500 ish) and you can also get an electrical report.

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    To sell all you have to pay is:

    Agents fees ( in NSW) are about 2.2% on average plus advertising (ours is about $2,000 on a $600,000 house) and trust me it's not an easy way to make money!

    Solicitors fees: about $2200, conveyancers are cheaper approx $1400
    Moving costs ( anywhere from $2-10k depending on what u have!)

    To buy;

    Solicitor again, but buying is more expensive so add another $500

    Stamp duty - is on a sliding scale ( on $600,000 it's approx $22,500)

    Bank fees- depends , you will have set up fees , possibly mortgage insurance , stamp duty , so could be in the thousands depending in how much you borrow!

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    [QUOTE=Elijahs Mum;6406679]To sell all you have to pay is:

    Agents fees ( in NSW) are about 2.2% on average plus advertising (ours is about $2,000 on a $600,000 house) and trust me it's not an easy way to make money!

    QUOTE]

    $2,000 selling fees? or was that the advertising costs only?

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    jbish is offline “Today you are You, that is truer than true. There is no one alive who is Youer than You.” Dr Seuss
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    Release of mortgage fees & transfer registration fees apply in qld not sure about nsw but I would assume so.

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    $2,000 or $12,000?

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    Sorry 2.2% on sale price plus advertising which is approx $2000!


 

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