The exact amount depends on the value of the property, the state or territory the property is in, if the purchaser is a first-home buyer, if it’s an established home, new home, or vacant land, and other factors. Stamp duty can cost tens of thousands of dollars. Stamp duty is a charge applied by state and territory governments and relates to the transfer of land or property. It is possible to “DIY it”, but it’s not recommended, given the complexity of the work. On average, conveyancing and legal fees come in at about $1,800. For example, if there needs to be an extra letter sent from you, the buyer, to the owner, there might be an extra charge,” she said.ĭr Mardiasmo said conveyancing and legal fees depend on how complicated the transaction is and who does the work, ie a conveyancing company with a team of solicitors specialising in conveyancing or a private lawyer or solicitor. “However, it’s important to understand what is included in fixed fee conveyancing and ensure you don’t get caught out. “Because conveyancing and legal fees can be somewhat standardised – because there is a similar process in the handling of each house sale – there is usually the option of selecting a fixed fee. Typically there are three phases preparation of sale contract, the exchange of contracts, and completion. Picture: /buyĬonveya n cing and legal fees are the costs associated with engaging a conveyancer or other professional to do the required legal paperwork when buying a home.ĭr Diaswati Mardiasmo, the chief economist for PRD, said conveyancing involves the preparation, execution, and lodgement of various legal documents to enable a swift and legal sale. Buying a house costs more than you'd think.
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