Land Titles Office:
Any Mortgage, Caveat or Charge registered against your property is required to be discharged at settlement. The fees associated with the removal of these encumbrances are payable by the Vendor and are reflected in the adjustment statement:
- $107.60 – for each Mortgage Discharged
- $76.40 – for each Caveat WithdrawnCapital Gains Tax
Be aware of the potential tax liability associated with your sale. For example unless the property is used as your principal residence, you may be taxed on any profits made by you on the re sale of such property.
If you intend to sell within 12 months of a purchase, or if you believe you might be affected by any Capital Gains Taxes, you should contact the Tax Office or your Accountant.
This is a major expense incurred by a Vendor when selling a property through an Estate Agent and can be negotiated between the agent and the vendor. Remember, the commission negotiated by the agent might not necessarily take into account any advertising expenses or bank keeping fees on the deposit.
Victorian Property Settlements charge a fixed quote fee, plus the normal disbursements.