Fees involved with buying a house!!!
Mar 17th 2004, 3:20 am
#1
BE Enthusiast
Thread Starter
Joined: May 2003
Location: Renting in Port Kennedy Perth
Posts: 447
Fees involved with buying a house!!!
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
pockygoes
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
pockygoes
Mar 17th 2004, 3:21 am
#2
BE Enthusiast
Thread Starter
Joined: May 2003
Location: Renting in Port Kennedy Perth
Posts: 447
Don't know if it makes any difference from state to state - we are off to Perth!
Cheers
pockygoes
Cheers
pockygoes
Mar 17th 2004, 3:45 am
#3
Joined: Jun 2003
Posts: 965
Re: Fees involved with buying a house!!!
Originally posted by pockygoes
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
http://www.national.com.au
ABC put me onto this yesterday cracking site
pockygoes
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
http://www.national.com.au
ABC put me onto this yesterday cracking site
pockygoes
Mar 17th 2004, 8:54 am
#4
Forum Regular
Joined: Feb 2004
Location: London
Posts: 108
Re: Fees involved with buying a house!!!
Originally posted by pockygoes
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
pockygoes
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
pockygoes
I emailed the body responsible for the First Home Owners Grants in WA about 3 weeks ago. It is still £7,000 and at the moment there is no end date.
Mar 17th 2004, 9:07 am
#5
Monaco here we!!! oh no
Joined: Aug 2003
Location: Bexleyheath Kent
Posts: 411
Re: Fees involved with buying a house!!!
Originally posted by pockygoes
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
pockygoes
Hiya all
Just wondered if anyone knows what fees are involved when buying a house in Oz.
I know they have stamp duty - how much? What percentage of the value?
What do you have to pay for surveys (if they have them over there) what sort of surveys are necessary? How much should we expect to pay a solicitor? Any useful tips that are worth bearing in mind?
Should we be aware of any potential shortfalls?
I know about the first time buyers grant - is it still $7000?
Cheers
pockygoes
Try this website should answer all your questions.
http--www.mmff.com.au_duty.htm
Mar 17th 2004, 9:08 am
#6
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Fees involved with buying a house!!!
Originally posted by EEL
I emailed the body responsible for the First Home Owners Grants in WA about 3 weeks ago. It is still £7,000 and at the moment there is no end date.
I emailed the body responsible for the First Home Owners Grants in WA about 3 weeks ago. It is still £7,000 and at the moment there is no end date.
Fees - lots of them, varies from state to state. A search of older threads should give you lots to chew over. Which state are you headed for, anyway?
Mar 17th 2004, 9:10 am
#7
Monaco here we!!! oh no
Joined: Aug 2003
Location: Bexleyheath Kent
Posts: 411
Re: Fees involved with buying a house!!!
Originally posted by ADELAIDE BOUND
Try this website should answer all your questions.
http--www.mmff.com.au_duty.htm
Try this website should answer all your questions.
http--www.mmff.com.au_duty.htm
Sorry try again
http--www.mmff.com.au-html-stamp_duty.htm
Mar 17th 2004, 9:20 am
#8
Rocket Scientist
Joined: Aug 2003
Location: Dreamland AKA Brisbane which is a different country to the UK
Posts: 6,911
Qld - rough guide
Solicitors fees - around $400, some cheaper here under $300 havent used them.
Survery - a couple of hundred dollars for a not very complicated survey. More if there were any concerns (boundaries, slope etc) .
Termite inspection - couple of hundred dollars & YES you still should get one on a brick home, aussie termites are tough
.
Stamp duty - different states vary, Qld is the lowest I believe. Heres one that does all states.
http://www.homeonline.com.au/HBS_Mai...php?Itemid=135
Plus the other fees that are involved with a mortgage like transfer fees & stamp duty on the mortgage etc.
Gives you an idea
Solicitors fees - around $400, some cheaper here under $300 havent used them.
Survery - a couple of hundred dollars for a not very complicated survey. More if there were any concerns (boundaries, slope etc) .
Termite inspection - couple of hundred dollars & YES you still should get one on a brick home, aussie termites are tough
. Stamp duty - different states vary, Qld is the lowest I believe. Heres one that does all states.
http://www.homeonline.com.au/HBS_Mai...php?Itemid=135
Plus the other fees that are involved with a mortgage like transfer fees & stamp duty on the mortgage etc.
Gives you an idea
Mar 17th 2004, 10:48 am
#10
home again, home again
Joined: Apr 2003
Location: Notts to Perth, Perth to Notts
Posts: 1,748
We also had to pay up front for the years Water rates and housing rates, this came to just over $2000. The $7000 grant doesn't even cover the stamp duty but it's better than nothing.
Mar 17th 2004, 11:00 am
#11
Guest
Posts: n/a
Here is breakdown of the costs involved when we bought our house in Perth.
Purchase Price - $578,000
Stamp Duty - $29,319.00
Settlement Fee - $1,082.00
Registration Fee - $ 187.00
Search Fees - $ 85.00
Disbursements - $27.50
Local Council Enquiry - $22.00
Local Council Orders - $44.00
Water Corp Enquiry Fees - $66.50
White Ant Certificate - $150.00
Rates and Taxes - $1,400
Survey - $200
There was also stamp duty on the mortgage which I think was about $1,150.
You have to pay a deposit within 14 days which is usually about 5% of the purchase price. You also have to pay the stamp duty upfront before the transfer can be done and normally before the mortgage is released.
So in our instance we needed to pay $60,000 before settlement.
As a very rough guide, take 6% of the purchase price and that will be the extras that you have to pay.
Purchase Price - $578,000
Stamp Duty - $29,319.00
Settlement Fee - $1,082.00
Registration Fee - $ 187.00
Search Fees - $ 85.00
Disbursements - $27.50
Local Council Enquiry - $22.00
Local Council Orders - $44.00
Water Corp Enquiry Fees - $66.50
White Ant Certificate - $150.00
Rates and Taxes - $1,400
Survey - $200
There was also stamp duty on the mortgage which I think was about $1,150.
You have to pay a deposit within 14 days which is usually about 5% of the purchase price. You also have to pay the stamp duty upfront before the transfer can be done and normally before the mortgage is released.
So in our instance we needed to pay $60,000 before settlement.
As a very rough guide, take 6% of the purchase price and that will be the extras that you have to pay.
Last edited by owieb; Mar 17th 2004 at 11:32 am.
Mar 17th 2004, 11:03 am
#12
Joined: Jun 2003
Posts: 965
Originally posted by owieb
Here is breakdown of the costs involved when we bought our house in Perth.
Purchase Price - $578,000
Stamp Duty - $29,319.00
Settlement Fee - $1,082.00
Registration Fee - $ 187.00
Search Fees - $ 85.00
Disbursements - $27.50
Local Council Enquiry - $22.00
Local Council Orders - $44.00
Water Corp Enquiry Fees - $66.50
White Ant Certificate - $150.00
Rates and Taxes - $1,400
Survey - $200
There was also stamp duty on the mortgage which I think was about $900.
You have to pay a deposit within 14 days which is usually about 5% of the purchase price. You also have to pay the stamp duty upfront before the transfer can be done and normally before the mortgage is released.
So in our instance we needed to pay $60,000 before settlement.
Here is breakdown of the costs involved when we bought our house in Perth.
Purchase Price - $578,000
Stamp Duty - $29,319.00
Settlement Fee - $1,082.00
Registration Fee - $ 187.00
Search Fees - $ 85.00
Disbursements - $27.50
Local Council Enquiry - $22.00
Local Council Orders - $44.00
Water Corp Enquiry Fees - $66.50
White Ant Certificate - $150.00
Rates and Taxes - $1,400
Survey - $200
There was also stamp duty on the mortgage which I think was about $900.
You have to pay a deposit within 14 days which is usually about 5% of the purchase price. You also have to pay the stamp duty upfront before the transfer can be done and normally before the mortgage is released.
So in our instance we needed to pay $60,000 before settlement.
You must have a super house - where do you live?
Mar 17th 2004, 11:15 am
#13
Guest
Posts: n/a
Originally posted by maxpaxx
You are a darling for posting this useful info. I've been scavanging around the web trying to get all these figures and the stamp duty seems to vary with each site!
You must have a super house - where do you live?
You are a darling for posting this useful info. I've been scavanging around the web trying to get all these figures and the stamp duty seems to vary with each site!
You must have a super house - where do you live?
We bought at the top end of the market so probably paid a bit extra for our house, but it is a great place and we're really happy with it. We're living in Hillarys, about 20mins north of the CBD.
Mar 17th 2004, 11:17 am
#14
Rocket Scientist
Joined: Aug 2003
Location: Dreamland AKA Brisbane which is a different country to the UK
Posts: 6,911
Originally posted by MrsDagboy
Qld - rough guide
Solicitors fees - around $400, some cheaper here under $300 havent used them.
Survery - a couple of hundred dollars for a not very complicated survey. More if there were any concerns (boundaries, slope etc) .
Termite inspection - couple of hundred dollars & YES you still should get one on a brick home, aussie termites are tough .
Stamp duty - different states vary, Qld is the lowest I believe. Heres one that does all states.
http://www.homeonline.com.au/HBS_Mai...php?Itemid=135
Plus the other fees that are involved with a mortgage like transfer fees & stamp duty on the mortgage etc.
Gives you an idea
Qld - rough guide
Solicitors fees - around $400, some cheaper here under $300 havent used them.
Survery - a couple of hundred dollars for a not very complicated survey. More if there were any concerns (boundaries, slope etc) .
Termite inspection - couple of hundred dollars & YES you still should get one on a brick home, aussie termites are tough
. Stamp duty - different states vary, Qld is the lowest I believe. Heres one that does all states.
http://www.homeonline.com.au/HBS_Mai...php?Itemid=135
Plus the other fees that are involved with a mortgage like transfer fees & stamp duty on the mortgage etc.
Gives you an idea
Depending on the solicitor & whether the price is including council searches etc. Some quote a fixed fee + outlays.
http://www.conveyancingworks.com.au/
Mar 17th 2004, 1:29 pm
#15
Guest
Posts: n/a
My last purchase figures, for QLD
Deposit $10,000.00
Bank fee on Bank Cheque $6.50
Pest Inspection $195.00
Building Inspection $170.00
Rates adjustment $244.32
Water adjustment -$6.13
Stamp Duty $5,990.00
Registration and other fees $54.50
Solicitors Fees $935.00
Balance House Cost $202,000.00
Mortgage Stamp Duty $1,994.40
Mortgage Transfer Fee $186.00
Mortgage Fee $100.00
Property Search Fee $10.75
Title search fee $4.00
1 months Insurance $73.60
Deposit $10,000.00
Bank fee on Bank Cheque $6.50
Pest Inspection $195.00
Building Inspection $170.00
Rates adjustment $244.32
Water adjustment -$6.13
Stamp Duty $5,990.00
Registration and other fees $54.50
Solicitors Fees $935.00
Balance House Cost $202,000.00
Mortgage Stamp Duty $1,994.40
Mortgage Transfer Fee $186.00
Mortgage Fee $100.00
Property Search Fee $10.75
Title search fee $4.00
1 months Insurance $73.60
