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Estimate of costs

What is this page about?

I have created an Excel 3 spreadsheet on my Macintosh to estimate the costs and charges involved in buying or selling land. I've shown below what it looks like.

The spreadsheet refers to the old scales for legal costs in N.S.W., Australia which no longer apply, but it at least gives you a guide to what the legal costs component might be. Government charges vary from State to State. The searches that are required and the charges for them differ depending upon the circumstances. For instance, you don't need surveys, building reports and pest certificates if the land is not built on. You should check with local people to see what they will charge. You also need to check with the bank about what their fees will be will be.

You can download this spreadsheet or if you email me. I'll send it to you as an attachment to an email.

The document you receive will not be compressed. I'm not sure how you will go using it in Excel for Windows. Excel may be able to translate it.

The information I have provided here is intended only as a guide and should not be relied on as a substitute for detailed professional advice. This spreadsheets have been prepared for use in N.S.W. and may have limited application elsewhere in Australia.

ESTIMATE OF CONVEYANCING COSTS - HOUSE PROPERTY. ESTIMATE OF CONVEYANCING COSTS.
% %
Re: Purchase. $ $ of Re: Sale. $ $ of
costs costs
Purchase Price (under $ 500,000) $134,000 Purchase Price (under $ 500,000) $25,000
Real Property Act land Real Property Act land
Costs include all work from exchange Costs include all work from drafting
of contracts to completion 935.00 13% contract to completion 370.00
Discharge of Mortgage costs where advance of $0 132.00 28%
Plus Government Charges.
Plus Government Charges.
Stamp Duty 3,184.00 *
Rate Certificate 30.00 Title Search 100.00
Council Building Certificate 50.00 Zoning Certificate 100.00
Land Tax Certificate 15.00 Drainage Diagram 13.00 213.00 12%
RTA Certificate 8.00
Rural Lands Protection Board Certificate 25.00 Legal Costs $715.00
FID,1 Bank Cheque & F/Tax 95.40
Registration of Discharge & Transfer 102.00 3,509.40 50%
Plus Disbursements. Real Estate Agent's Commission 1,050.00 59%
payable to agent from deposit
Title Searches 100.00
Registration Agents Fees 26.00 Selling Costs Payable $1,765.00
Pest Certificate 155.00
Survey 350.00
Builder's Report 150.00 781.00 11%
Note: This is only an estimate of costs and disbursements. The actual costs and disbursements
5,225.40 may be more or less depending upon the circumstances. For example, the costs will be more for
Re: Mortgage. Old System land, Crown land or Strata Title units but may be less if the same solicitor is acting
acting for the incoming mortgagee.
Advance $120,000
Real Property Act land
Mortgagor's costs (less one-half 350.00
because also acting for purchaser)
Mortgagee's costs 933.00 18%
as per scale under Conveyancing Act, 1919
Plus Government Charges.
Stamp Duty 427.00 **
Registration Agent's Fees 13.00
Registration of Mortgage 51.00 491.00 7%
Amount Payable $6,999.40
* For FHO reduce stamp duty by: $954.00 or defer. ** For FHO reduce to nil.
Note: In addition to these costs you may also incur expenses 
such as: loan application fees, a proportion of the outgoings on 
the property and insurance premiums.
Note: This is only an estimate of costs and disbursements. The actual 
costs and disbursements maybe more or less depending upon the 
circumstances. For example, the costs will be more for Old System 
land, Crown land or Strata Title units but may be less if the same 
solicitor is acting for the incoming mortgagee.

Another example of the use of spreadsheets is for settlement statements.

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Envelope

Dan O'Keefe
danok@ozemail.com.au
P.O. Box 1127, DUBBO, N.S.W., Australia, 2830
Tele: (068) 82 1433 (BH) Int: 61 68 82 1433 Fax: (068) 81 8117
Revised: 10th October, 1996
URL: http://www.ozemail.com.au/~danok