The following is an estimate of the disbursements you will incur in your purchase of an existing ‘Torrens title’ property in New South Wales
The following table depicts an estimate of the conveyancing disbursements generally applicable at this time, however these costs and charges do change over time. Occasionally the circumstances of a transaction are such that you additional searches or certificates may be required to be purchased.
You can read more about disbursement and why it is necessary by clicking on the applicable item.
|Disbursements||Estimated cost (inc GST)|
|OSR Stamping Fee ||$9.95|
|This is a processing fee we / you must pay the Office of State Revenue of NSW (OSR) in order to process the payment of stamp duty. Note: this is not stamp duty itself which is a separate tax.|
|Council Rates Searches (so called 'Section 603' certificate) ||$90.95|
|This is a fee set by statute that the applicable Local Council will charge in order to verify the amount of rates owing with respect to the property. It is important that we obtain this certificate in order to ascertain if there are any arrears on the rates that need to be cleared at settlement.|
|Water Charges Search(so called 'Section 66' certificate)||$18.59|
|This is a fee set by statute that the applicable Water Authority will charge in order to verify the amount of water rates / usage owing with respect to the property. It is important that we obtain this certificate in order to ascertain if there are any arrears on the rates that need to be cleared at settlement and to estimate what water usage the vendor has had during the applicable period.|
|Title Search at Land Registry||$15.94|
|This is a statutory fee that we / you are charged by the Land Registry Services in order to verify the owner of the property and any encumbrances / dealings registered with respect to the property. It is usually only necessary to undertake one search prior to settlement however circumstances might dictate that multiple searches are required through the transaction, in which case this fee would apply on each occasion.|
In addition to the disbursements referred to above, there is normally a ‘PEXA’ settlement fee charged at settlement of $114.07. This is a fee charged by the electronic settlement venue.
This fee will normally not appear on your invoice, but rather will be automatically deducted from settlement funds.