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Aside from the purchase price,
costs associated with buying a residential property will
involve some, if not all of the following items, depending on
the country, State or Territory where the property is bought,
and how the property is bought.
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» a checklist may include ...
- Legal/conveyancing fees which comprise:
(a) legal
fees for the time involved in the conveyancing, and
(b)
disbursements, i.e. costs of searches, enquiries etc in
respect to the property.
- Stamp duty on the transfer of property.
Stamp duty is a
tax imposed on written documents that record or affect
certain types of financial or legal transactions.
Your
solicitor will obtain the appropriate rate.
The buyer pays
the solicitor the amount payable who then arranges payment
to the Government authority.
- Stamp duty on the mortgage
- Land transfer registration fee
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