Breezing through the fees

Date: 14 October 2014
Breezing through the fees
Sometimes buying or selling a home can feel like playing whack-a-mole: every time you think you've covered all of the fees involved, another one pops up and takes you by surprise. Of course there is the actual payment for the property  and the agent fees, but here are three more you may need to cover so you're not taken by surprise by anything!

Conveyancing fees

A conveyancer is a solicitor or licensed individual who helps with the transfer of fees and organises all your documents in the process of purchasing or selling a home - think of them as a temporary accountant, doing the fidgety work so you don't have to. They usually charge a set fee, and you can get a quote for this nice and early. They will usually be paid when the settlement on a home is completed.

Stamp duty

Depending on where you live, you may have to pay stamp duty when you buy a home, which can be significant. Exactly how much this sets you back depends on where you are, but many places have concessions for stamp duty. Sometimes this concession can be a large percentage of the stamp duty, particularly for first homebuyers.

Bank fees

If you're taking out a mortgage, there will be application and legal fees involved, so make sure to get a good idea of these amounts when you prepare to purchase a home. If you're selling and ending your mortgage early you may also have to pay fees.

We know this is a lot to take in, but once you get on top of these fees you will be right as rain to move into your home and get on with the really important things - like putting your feet up and loving life as a homeowner.
Back to articles Filed under: Media / National News Tags: bank fees, conveyancing fees, stamp duty
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