LIFE IN AUSTRALIA.
Immigration to Australia – IMMI-TO-AUSTRALIA.COM.
Side and commission expenses for the purchase of Australian real estate.
Part 6. The standard scheme for the purchase of Australian real estate.
Part 7. Side and commission expenses for the purchase of Australian real estate.
Hire a private Australian lawyer to design and maintain a contract for the purchase of a property on your behalf, you can for about AUD $ 1000 – 2000 (however, there are Convincing Companies, which can do the same for AUD $ 500). The lawyer’s fee is paid per day & quot; settlement date & quot; or a little later (by appointment).
Real estate agency services are paid by the seller of real estate (absolutely differently, not as in Russia, where such services are paid by the buyer), but not more than the amount calculated using the formula:
Agent commission = (5% of the first AUD $ 18,000 + 2.5% of the difference between the contract price and AUD $ 18,000) + GST 10% of this amount. This is the law by which the commission of a real estate agency can not exceed this estimated amount!
Often you have to deal with the situation when a potential buyer comes and says that he “should buy a palace” for AUD $ 100,000, since he has exactly this amount of funds and he can not spend more. He is offered to choose something suitable for the sale (because the commission to the real estate agency in this case pays the seller who put the house up for sale), but in fact such a buyer wants to buy it “palace for the price of the lodge.” In this case, he is offered to conclude an exclusive contract with the agent and assign him a Buyer’s Agent. In this case, the real estate agent will on behalf of the buyer look for the necessary object, and the buyer will pay him a commission on the already familiar formula, if it is a housing fund. If it is a question of search of the commercial real estate or sites of the earth under building the commission can reach up to 9% from cost of object of the real estate.
At time & quot; settlement date & quot; the buyer pays the tax to the state (Stamp duty) in the amount of 2% of the value of the property subject to the fact that he will live in it himself, and 3% – provided that tenants live in it.
Since & quot; settlement date & quot; the buyer starts to pay (quarterly or monthly) the so-called & quot; body corporate rate & quot; – the price of maintenance of the building by the management company (cleaning the territory, cleaning the pool, watering the lawns, repairing street lighting, repairing elevators, repairing the roof, etc., etc.) – the amount varies individually. If a private house was bought, then in this case, & quot; body corporate rate & quot; absent. But, if something in this house breaks, then the owner of this house will repair it from own means.
At time & quot; settlement date & quot; the buyer pays an annual land tax (cancel rate) to the local government – the amount varies individually.
You can also dwell on the question of “where to rent tenants, if they live in a purchased house on the” secondary market “, and the contract for renting a house ends in them in a year, for example,” but it’s a question, it makes sense to discuss only in case of purchase a particular home and in the event that you have a valid Australian visa valid for more than 12 months.
The information in this article is correct as of the date of publication of this article.
If there have been changes since the date of publication of this article in the Australian Immigration Law (cumulative: Australian Migration Act 1958 + Australian Migration Regulations 1994), this information needs to be adjusted.
LIFE IN AUSTRALIA.