Hidden Costs You are Unaware of While Selling Your House

1
Hidden Costs You are Unaware of While Selling
Your House
2
As a real estate agent offering my services in
Hampton Park, Pakenham, Lyndhurst, and the
nearby suburbs, I would like to apprise you of
the costs that a vendor may have to go through
while selling their homes. Selling a house in
Australia is a pricey venture, pretty much for
everyone. This is because number of hidden costs
are involved in selling a property and these
unfold slowly with each step coming as a
surprise. A layman unaware of the real estate
market may find himself lost in the process of
selling a home. That is why there are real estate
agents. All those who think they dont need a
real estate agent have not known the role they
can play in selling their home at a great price.
Read this blog to know the reasons why you still
need a real estate agent. Now, let us get back to
the costs involved. Apart from agents fees,
conveyancing, maintenance, marketing expenses,
there are myriad of other expenses that can add
up quickly unknowingly.
3
Agents Fees
While selling a home in Australia, you may have
to choose between two types of agents fees
Commission or flat fee. A flat fee is something
you and your real estate agent agree upon before
the property goes to market. The cost remains the
same regardless of how much your house sells
for. You may even have to pay to the agent even
if your property does not sell. A commission on
the other hand is the percentage of the final
sale price that you give to a real estate agent.
The commission percentage can range from 1 to
3 but these are influenced by number of other
factors too like your house worth, competition
for business among real estate agents.
4
Marketing Fees
Marketing plays one of the most essential roles
in securing the best price to sell your home. If
you arent able to showcase the best features of
your house, there is no way you can sell it. But
to do that you need to spend a little before
marketing your house. For that you may have to
consult professional home stylists and present
your home in the best light possible. Other than
this, typical expenses may include a board, or a
sign in front of your house, listing the
property on the best Australian sites,
copywriting for property, creating a floor plan,
photography for listings.
5
Capital Gains Tax

• This is the tax you pay to the Australian
  Government when you are selling your investment
  property (the property that you do not live in).
  It does not apply to the principal property you
  live in. You are liable to pay the Capital Gains
  Tax if you make a profit from increases in the
  value of your valuable asset. The profit you
  earn from the time you buy it to the time you
  sell your investment property.
• The amount of CGT you will need to pay depends on
  the profit you make by selling your property and
  the expenses incurred from owning the property.
  The CGT is calculated based on the sales price
  of the property minus expenses, which include
  stamp duty, sales fees, legal fees, advertising,
  marketing fees, ownership cost, title cost,
  renovation cost. To know about all these costs
  in detail, reach out to the best real estate
  agent, for he would guide you throughout the
  process and keep you informed.

6
Conveyance Fees After the sale of your property,
the next step is to transfer the legal ownership
of your property from one owner to another. This
can be done by licensed solicitor, and
conveyancers. It is recommended to contact a
local and a licensed solicitor, says Manny
Singh. Lenders Fees If you have a mortgage on
the current home you are selling, you will have
to pay your lender a discharge or an early exit
fee. The charge may vary from customer to
customer. You need to see that your lender has
his/her own mortgage discharge form to
fill. Outstanding Council Rates These are
probably the most easily forgotten costs. As the
owner of the property, it is your duty to stay
updated with the council rates including the day
of settlement. Any outstanding rates are paid
from your sales proceed. There are a lot of
other formalities that go into while selling your
house. If you are thinking of selling, then it
is always good to have an experienced real estate
agent by your side. You never know how much
burden a top realtor can take away while donning
several hats in a day. To know, read our blog
What roles a real estate agent plays in a
day. Whether you are selling your home for the
first time, or you are an experienced vendor, you
may end up making some of the common mistakes
while selling your home. Since the real estate
market is evolving every day, it is important
for you to avoid some of the mistakes while
selling your home.
7
GET IN TOUCH
3 Withers Ct, Pakenham VIC 3810, Australia 61
423 277 447 manny.singh_at_freedomproperty.com.au C
ontent Resource https//mannyrealestate.com.au/hi
dden-costs-you-are-unaware- of-while-selling-your
-house/
8
(No Transcript)