There are several costs involved in buying any real estate. It is vital that you know what they are before you commence the transaction in order to budget for them. Costs can blow out if you are not prepared and make yourself aware of what is involved.

Ask your CPC to give you a written quotation of all the fees and charges involved in your particular transaction so you know what the conveyancing process will cost you. Ask whether there are any other costs or charges that may arise that are not included in the quotation

Standard fees and charges payable to your CPC;

Stamp duty on the Purchase consideration

• Title search costs
• Governmental Inquiries
• Agency fees for settlement etc.
• Fee for attending to loan and mortgage documents, when necessary
• Your CPCs fee
• Registration fees paid to Land Registry
• Title Insurance if you elect to insure against risk
• There may be others depending on your individual transaction

Other costs to be aware of;

• Fees and charges for obtaining a loan
• Mortgage insurance where applicable
• Adjustment of rates and taxes for the period you own the property
• Insurance of buildings
• Removalists and other moving cost

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Before proceeding with any conveyancing transaction it is important to know exactly what the costs are, selling a property is no different. Ask your CPC for a written quotation of the conveyancing fees and charges. You should also make sure the estate agent gives you a written quotation of his fees and charges or at least the manner in which they will be calculated.

The standard costs when selling real estate are;

• Fees and charges payable to discharge any loan
• Agent’s commission and charges for advertising etc.
• Rates and taxes adjustment for the period you own the property
• Moving costs
• Balance of loan repayments
• Conveyancing fees and disbursements (typically)
  • Title search
  • Zoning certificate from council
  • Drainage diagram
    
  • Agency fees (settlement etc)
    
  • Fee to arrange discharge of mortgage, when necessary
    
  • Your CPCs fee
    
• Check with your CPC for any other costs

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It's very easy to save a considerable portion of your conveyancing expense if you will be using a bank to assist in purchasing your new home. Most CPCs have a relationship with the majority of banks in Australia and in many cases we can have your entire conveyancing invoice paid by your chosen bank.

All you need to do is choose the bank that suits you best, apply for an appropriate home loan and then instruct your CPC to attempt to have your invoice paid by your chosen bank. We cannot guarantee that every bank in Australia will co-operate but in our experience a great number will. Terms and conditions do apply so please contact us to discuss how we can assist.

To apply to have your conveyancing invoice paid by your chosen financial institution please download the PDF application and fax it to our office.

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