Purchase costs breakdown

Discussion in 'Loans & Mortgage Brokers' started by oneone, 25th May, 2017.

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  1. oneone

    oneone Well-Known Member

    Joined:
    5th May, 2017
    Posts:
    160
    Location:
    NSW
    I'm trying to do a breakdown of all purchasing costs and an estimate for an IP. This is for NSW

    Deposit
    LMI (1-3% of purchase value)
    Buyers agent fee (1-3% purchase value)
    Stamp duty $8900 + 4.5% > 300k purchase price
    Mortgage registration fee $210
    NSW Registration transfer fee $110
    Legal costs $1,500
    Search fees (eg title/land tax) $200
    Building inspection $300
    Pest inspection $200
    Bank cheque $80
    Loan establishment fee $600
    settlement attendence $100

    Did I miss anything big or mistakes ? Are the amounts ball park correct ? I'm looking a realistic estimate, so good to hear thoughts on what searches are must dos, or potential fees to save etc.
    Thanks
     
  2. Blacky

    Blacky Well-Known Member

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    25th Jun, 2015
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    Location:
    Bali
    Ive always used 5% of purchase price as an estimated buying cost. Its generally very close.

    Blacky
     
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  3. DaveM

    DaveM Well-Known Member

    Joined:
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    Location:
    Adelaide & Sydney
    Yes same. Plus BA fees etc
     
  4. oneone

    oneone Well-Known Member

    Joined:
    5th May, 2017
    Posts:
    160
    Location:
    NSW
    Thanks, I assume the 5% should roughly cover everything except deposit, any LMI and Buyers agent then.