I bought my first property last Jan (05) and now I’m thinking of selling. I think the value has increased and I have a real estate agent coming on wed to value the property. I’m not 100% clear on what the selling costs are. The property is in country WA and is my first home… I got the grant and didn’t pay stamp duty.
What costs am I looking at to sell?
KosmicgirlGKD
Agent’s commisions vary between 1.5-3% plus GST.
There are also legal costs ($500-$1,000) and possibly finance break costs due to the short term of the loan.
It’s great that your property has increased in value.
Have you considered not selling, but refinancing it?.
It is likley your property will continue going up in value and it won’t care who owns it. Why shouldn’t it be you?
One of the great things about property is that you don’t have to sell it to collect your profits like with other asset classes.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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