Estimate of costs |
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.
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 maby be | |||||||||||||
| more or less depending upon the circumstances. For example, the costs will be more for Old System land, | Agent's Commission | ||||||||||||
| Crown land or Strata Title units but may be less if the same solicitor is acting for the incoming mortgagee. | |||||||||||||
| 0 | 200 | 200 |