As with buying a property there will be other expenses involved that you need to be aware of such as:
- Fees and charges payable to discharge any mortgage from your title.
- Sales commission and advertising costs payable to your agent.
- ASIC search fee (if any party, including you, is a company). This is to find out full details of the company to ensure it is not in liquidation or administration, etc.
- If you have not paid your rates and taxes in full, these must be paid at settlement. If those rates and taxes relate to a period part of which is after the settlement date, however, the buyer will be required to add to the purchase price the portion of those rates and taxes which relate to the period when they will own the property.
- Our professional fees for the settlement.
- PEXA fee. (PEXA is the electronic platform under which most settlements are now conducted in WA).
We will provide you with a detailed statement of all the expenses that are incurred at settlement that are payable to us or which we pay on your behalf.