selling costs

[neeko]

I just wanted to know the selling costs of a property. My brother wants to know this he thinks his house will sell for 400k

 

[Brady]

More info.

Which state?

PPOR or IP, will it have CGT?

Agent or Private?

 

[neeko]

Vic ppor no cgt and agent

 

[Jamie M]

Well it mostly comes down to how much the agent is charging, legal fees and any bank charges (if applicable). I'd also factor in some moving costs.

It's a bit too broad a question to give an accurate response.

Cheers

Jamie

 

[Paul@PFI]

And if its liable to CGT this may further reduce the net proceeds.

 

[Brady]

Speak with sales agent for their costs, make sure full costs including advertising.

Speak with conveyancer/solicitor for government/paper costs

Speak with accountant for CGT/TAX costs

Speak with bank for fees.

 

[Terry_w]

- Conveyancing fees
- Agent fees
- discharge of mortgage
- loan exit fees - on fixed, old loans
- CGT
- tax agent fees.
- GST (possibly!)

 

[Paul@PFI]

- Conveyancing fees
- Agent fees
- discharge of mortgage
- loan exit fees - on fixed, old loans
- CGT
- tax agent fees.
- GST (possibly!)

Marketing / auction costs
Furniture hire
Costs of work to prepare for sale
Adjustments for non-deductible costs since acquisition
Adjustments for a former main residence (maybe exempt ?)
Adjustments for depreciation / capital allowance deductions claimed (maybe)- If rented.

Personal tax advice is often a start