Splitting Settlement Agent Attendance Costs

Discussion in 'Legal Issues' started by mojorising, 19th Mar, 2019.

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  1. mojorising

    mojorising Well-Known Member

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    I am purchasing a house in QLD.

    The contract is not specific about where settlement is to be executed.

    If settlement is at the sellers solicitor then I have to pay a settlement agent.

    If settlement is at my solicitors then the seller has to pay a settlement agent.

    Last time I engaged a settlement agent (NSW purchase) the cost was $240 inc GST (although that included stamping).

    I have been assured by my solicitor that the settlement agent will only be around $65+GST but from my past experience I am doubtful it will be that cheap.

    I am thinking about proposing to the seller that we split the cost of the settlement agent.

    Does anybody know what the normal cost of settlement agent in QLD is and if splitting the cost seems reasonable?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    They will probably have to pay for a settlement agent also so will you split their fee too?
     
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  3. qak

    qak Well-Known Member

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    Seems like a lot of effort to save what - about $40?

    Not to throw a spanner in the works, and I don't know how settlements are conducted in Qld but isn't there also the possibility that settlement will occur at a central location so you both have to pay for attendance? :rolleyes:

    Or via PEXA?
     
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Yeah! But!! It's still $40!!!

    I can get 2 schnitty & chips or a decent parmi and a couple of drinks on a Tuesday night. :rolleyes:
     
  5. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The more you try and organise the people who do this every day the more it will fall apart and cost you more. Let it go and stop being a control fanatic and focus on the big picture. The solicitors fee assumes certain inclusions and costs. You change that and it will go up, not down.

    What does your solicitor say ? $71.50. The solicitors admin time to split a fee will cost more than the fee itself. You are probably wasting their time discussing their established process and why your way isnt better.
     
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  6. turk

    turk Well-Known Member

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  7. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Its just a new age way of describing begging. The trevi fountain of bad luck
     
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