Buying Costs
In addition to the purchase price you offer for the property and the cost of inspections (e.g. termite or building) that you may require, there are statutory fees that you must pay plus settlement agents (conveyancing fees) fees. These fees amount to a considerable sum of money. Use the calculator below to work out your approximate major costs.
Disclaimer:
Information on this site is obtained from reliable
sources and provided in good faith but no responsibility is
taken for any reliance placed on results obtained from the
use of this calculator. Stamp duty amounts may be confirmed
by contacting the Office of State Revenue on 9262 1100 (WA
Country Callers: 1300 368 364) or visit the website at www.dtf.wa.gov.au.
Whilst stamp duty is not negotiable, settlement fees are and
buyers are encouraged to compare fees.
Click here for Mortgage
Calculator
About these costs:
• Stamp duty: Calculated on the amount
of the Purchase Price for the Property.
To find out if you qualify for concessions, or to confirm
the calculated amount
of stamp duty, phone the Office of State
Revenue on 9262 1100
(WA Country Callers: 1300 368 364) or visit the website www.dtf.wa.gov.au.
• Transfer fee: Titles Office charge for transferring
the title into your name.
• Settlement fees: The fee for the legal conveyance
of the property from seller
to buyer. Both the buyer and seller pay separate settlement fees.
In
WA, both the buyer and seller may use the same settlement agent or
separate
ones. Settlement fees are negotiable; buyers are encouraged to
compare fees.
Additional costs include:
• Settlement disbursements: Direct costs
incurred by the settlement agent
that are passed on to the buyer (or seller).
They include things such as postage, title searches, courier
fees (if used) shire
and water authority search fees and so on
• Bank/Building Society: Loan establishment fees
for preparation of mortgage
documents. Enquire at your lending institution
for full details.
• Mortgage / Building insurance: You will be advised
by your lending
institution.
• Shire and Water rates & Strata levies (where
applicable): These will be
adjusted by your settlement agent.
You will be required to pay rates on a pro rata basis per
days of ownership
calculated from settlement day or date of possession whichever
is earlier.
We recommend that you seek professional advice from your lending institution or licensed finance broker with regard to the costs involved in borrowing money when buying a home.
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