When selling a property, there are costs involved that need to be taken into consideration. Here’s a breakdown of some of the costs that may be incurred:
- Estate agent commission: if you use an estate agent to sell your property, they will typically charge a commission on the sale price of the property. The commission percentage may vary and can be negotiated with the estate agent.
- Cancellation costs: if you have an existing bond on the property that needs to be cancelled, there may be costs involved, such as an early cancellation penalty fee.
- Clearance certificates: before the property can be sold, certain clearance certificates need to be obtained, such as an electrical compliance certificate and a beetle certificate. The seller is responsible for obtaining these certificates.
- Conveyancer fees: the conveyancer handles the transfer process and may charge a fee for their services. The seller is typically responsible for paying these fees.
The costs involved in selling a property can vary depending on the circumstances, and it’s important to factor these costs into your planning when deciding to sell. Your estate agent and conveyancer can provide more detailed information and guidance on the costs involved in selling your specific property.”
In general, the seller is responsible for paying most of these costs involved in selling a property, such as estate agent commission, cancellation costs, and conveyancer fees. However, some costs, such as clearance certificates, may be negotiable as part of the sale agreement.