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  • Profile photo of dmacpusserdmacpusser
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    @dmacpusser
    Join Date: 2011
    Post Count: 1

    Joe, you also need to consider that in the ACT you are required to provide building and pest inspection reports. Hence why Mark found it so easy to buy from interstate as these are not required in NSW. Once a sale goes through, you entitled to have these report costs added to the cost of the sale and all of this needs to be wrapped up in your contract.

    There are also alot of adjustments for Council fees etc that need to be determined. For example if you have paid 12 months rates and now wish to sell 187 days in the rate period, you would be entitled to have the vendor pay you for the remainder of the rates period that you have already paid to council, Also consider water fees etc.

    Often the agent handling the sale will provide the CoS, which will be fairly standard from REIACT and then you include special terms and conditions.

    The use of a solicitor as part of your team makes sense and should be no more than about $1000 or less. Selling is a lot quicker and eaier than buying so often the fees are lower. There are conveyencors  (spelling lol) that will charge about $400 + disbursements for a simple sale.

    If this is an investment property and not a PPOR then the solicitor fees will also be added to the base cost price of your investment reducing the amount of CGT. If it is a PPOR then it is simply a cost of the sale.

    You would have a set amount minimum in your head for what you want to sell. Add $1000 to cover the solicitor cost and get it done professionally and remove the stress.

    Dean

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