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BUYING GUIDES |
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BUYING - The Costs of Buying
Article sourced from St George
Stamp Duty
Stamp duty is a State Government tax. As the amount varies from State to State, you should check the applicable rate with your local Stamp Duties office or legal representative. Your local Stamp Duties office can also provide you with information on how much stamp duty you have to pay, how it is calculated and if you are entitled to a discount or to defer payment.
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There are two types of stamp duty payable in relation to purchasing a property:
> On the mortgage - the amount of stamp duty payable on your mortgage depends on how much you borrow
> On the property - the cost of this stamp duty depends upon the price of the property you are buying
Your legal costs |
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Many of the costs associated with buying a property are non-negotiable. Your main legal cost will be for conveyancing, which is the transfer of property from one person to another. Conveyancing fees vary from State to State. Ask your solicitor/conveyancer/settlement agent to give you an estimate.
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