Fees associated with house purchase
May 1st 2004 | 7:28 am
#1
Thread Starter
Joined: Jun 2003
Posts: 965
Fees associated with house purchase
Hi all,
for anyone not yet bought in Aus thought you may be interested in the fees involved - just received our settlement statement:
Settlement fees (conveyancing like our solicitors) $990
Postage etc $60
land titles search fees $78
Bank chq fees $10
land tax dept enqiry fee $30
council rates enquiry fee $66
water corp enquiry fee $ 31
clause 42 WA planning $25
government bank charges $20
DLI for lodgement of EAS $5.50 - no idea what the hell that is btw
registration for transfer of document $187
stamp duty..wait for it...$27240 - yes thats $27240
They are witholding $2000 till they establish what the council and water rates due are till end of June which is the end of their financial billing year BTW.
Other costs involved with the mortage application are $1251
which is stamp duty on the loan!.
and a few little odds and sods. We are not being charge an application fee as National have an offer on at the moment but thats usually $600.
stacks up folks doesn't it - plus we won't get the $7000 first time buyers grant as we are leasing it back to the builders!
..anyway just thought this would help some of you with budgeting
BTW this was for the purchase of a house in Perth for $545,000
Max x
for anyone not yet bought in Aus thought you may be interested in the fees involved - just received our settlement statement:
Settlement fees (conveyancing like our solicitors) $990
Postage etc $60
land titles search fees $78
Bank chq fees $10
land tax dept enqiry fee $30
council rates enquiry fee $66
water corp enquiry fee $ 31
clause 42 WA planning $25
government bank charges $20
DLI for lodgement of EAS $5.50 - no idea what the hell that is btw
registration for transfer of document $187
stamp duty..wait for it...$27240 - yes thats $27240
They are witholding $2000 till they establish what the council and water rates due are till end of June which is the end of their financial billing year BTW.
Other costs involved with the mortage application are $1251
which is stamp duty on the loan!.
and a few little odds and sods. We are not being charge an application fee as National have an offer on at the moment but thats usually $600.
stacks up folks doesn't it - plus we won't get the $7000 first time buyers grant as we are leasing it back to the builders!
..anyway just thought this would help some of you with budgeting
BTW this was for the purchase of a house in Perth for $545,000
Max x
May 1st 2004 | 12:10 pm
#2
Just Joined
Joined: Apr 2004
Posts: 21
From: NSW ex Cheshire
Re: Fees associated with house purchase
Originally posted by maxpaxx
Hi all,
for anyone not yet bought in Aus thought you may be interested in the fees involved - just received our settlement statement:
Settlement fees (conveyancing like our solicitors) $990
Postage etc $60
land titles search fees $78
Bank chq fees $10
land tax dept enqiry fee $30
council rates enquiry fee $66
water corp enquiry fee $ 31
clause 42 WA planning $25
government bank charges $20
DLI for lodgement of EAS $5.50 - no idea what the hell that is btw
registration for transfer of document $187
stamp duty..wait for it...$27240 - yes thats $27240
They are witholding $2000 till they establish what the council and water rates due are till end of June which is the end of their financial billing year BTW.
Other costs involved with the mortage application are $1251
which is stamp duty on the loan!.
and a few little odds and sods. We are not being charge an application fee as National have an offer on at the moment but thats usually $600.
stacks up folks doesn't it - plus we won't get the $7000 first time buyers grant as we are leasing it back to the builders!
..anyway just thought this would help some of you with budgeting
BTW this was for the purchase of a house in Perth for $545,000
Max x
Hi all,
for anyone not yet bought in Aus thought you may be interested in the fees involved - just received our settlement statement:
Settlement fees (conveyancing like our solicitors) $990
Postage etc $60
land titles search fees $78
Bank chq fees $10
land tax dept enqiry fee $30
council rates enquiry fee $66
water corp enquiry fee $ 31
clause 42 WA planning $25
government bank charges $20
DLI for lodgement of EAS $5.50 - no idea what the hell that is btw
registration for transfer of document $187
stamp duty..wait for it...$27240 - yes thats $27240
They are witholding $2000 till they establish what the council and water rates due are till end of June which is the end of their financial billing year BTW.
Other costs involved with the mortage application are $1251
which is stamp duty on the loan!.
and a few little odds and sods. We are not being charge an application fee as National have an offer on at the moment but thats usually $600.
stacks up folks doesn't it - plus we won't get the $7000 first time buyers grant as we are leasing it back to the builders!
..anyway just thought this would help some of you with budgeting
BTW this was for the purchase of a house in Perth for $545,000
Max x
May 1st 2004 | 7:37 pm
#3
BE Enthusiast
Joined: May 2003
Posts: 447
From: Renting in Port Kennedy Perth
What is happening to stamp duty in WA?
pockygoes
pockygoes
May 1st 2004 | 8:12 pm
#4
Guest
Posts: n/a
Originally posted by pockygoes
What is happening to stamp duty in WA?
pockygoes
What is happening to stamp duty in WA?
pockygoes
Concessions do depend on whether you are North or South of the 26th parallel.
For current rates have a look at http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=206
There is also an online stamp duty Calculator available for you to use.
May 1st 2004 | 11:42 pm
#5
BE Enthusiast
Joined: Jul 2003
Posts: 529
From: My Place
there is an election in june and one of the election promises is that stamp duty fir first time buyers will be halved, ie if you buy a house for 250k sd is about 11k if the new rate comes in you are only charged sd on 125k and as sd is on a sliding scale you would only pay about $1500. so as i said its an election promise, it would than be in the state budget which is in july then god knows when it would take effect from, so i wouldnt hold your breath.
Lynn
Lynn
May 2nd 2004 | 6:48 pm
#6
BE Enthusiast
Joined: Nov 2001
Posts: 721
From: Back in Aus
Similar thing, but for Queensland ($325,000 purchase price)
Solicitors professional fees $499
GST on above $49.90
Stamp duty $5125 (ouch)
Search fees
Copy title $25
Check search $25
Bankrupsy search on seller $64
Land tax clearance $35
Copy Plan $20
In-house stamping $30
Agents fees for registration $20
Mortgage work $55
Postage, phone etc etc $50
GST on all above $32.40
Search fees, rates (gold coast) $73
Settlement notice $35
All up total $5838
This does not include the lenders up front stuff, which will of course differ from lender to lender, and also depend on what % you are borrowing.
Typically these will include stamp duty (yes again, but this time on the mortgage, not the property), titles office registration fees, settlement processing fees establisment fees etc etc etc
Solicitors professional fees $499
GST on above $49.90
Stamp duty $5125 (ouch)
Search fees
Copy title $25
Check search $25
Bankrupsy search on seller $64
Land tax clearance $35
Copy Plan $20
In-house stamping $30
Agents fees for registration $20
Mortgage work $55
Postage, phone etc etc $50
GST on all above $32.40
Search fees, rates (gold coast) $73
Settlement notice $35
All up total $5838
This does not include the lenders up front stuff, which will of course differ from lender to lender, and also depend on what % you are borrowing.
Typically these will include stamp duty (yes again, but this time on the mortgage, not the property), titles office registration fees, settlement processing fees establisment fees etc etc etc
