taxes to buy or sell property
Can anyone tell me what taxes you have to pay the government to buy and sell your property.
Hence, if the property is priced at 225,000 what additional costs will we need to spend. Also how long does it take to buy a house
Have a look at this site should have your anwsers http://www.revenuesa.sa.gov.au/index...ps/stampd.html.
As a general rule of thumb, estimate 5% of the purchase price in fees and you should be not too far off This would include conveyancing, stamp duty etc.
It takes one calender month to buy a property and when buying u will need to pay stamp duty etc, a calculator for buying a property can be found on realestate.com
Stamp duty is the main additional cost and comes in at 4% of purchase price as is the case back home in UK you will also be liable to pay the full years rates or the part of year remaining, and then there's title transfer fees etc on a purchase of 255k expect to need to find an extra 10-12k all up, on sales you just pay the agents fees usually about 1.5% plus open inspection fees these fees usually negotiable
Hope this helps
The info given is spot on. We found our house and got the keys 4 weeks after our offer was accepted.
All the rates were paid by the conveyancer and we found it all very straightforward.