The following is an estimate of the disbursements you will incur in your sale of a ‘strata 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)|
|Title Search x 2 ||$31.88|
|This is a certificate issued by the Land Registry verifying the owner of the property. With a strata property, there is normally two required, one for the apartment and one for the common property owned by the body corporate. This is a prescribed document which we need to attach to each contract for sale.|
|NSW Standard Form Contract (copyrighted) ||$11.66|
|The standard terms and conditions used in contracts for sale of land are copyrighted by the NSW Law Society and need to be purchased.|
|OSR Clearance Certificate||$25.50|
|This a certificate issued by the NSW Office of State Revenue verifying whether or not there is no land tax charged against the property.|
|Planning Certificate Section 10.7 (2)||$64.77|
|This is a certificate issued by the Local Council answering a series of statutory questions about the zoning and permissions affecting the property. An example of one of the things it will say is whether or not the property is considered a heritage item or is in a heritage conservation area, whether the property is situate in flood prone or bush fire prone areas and whether or not complying development is permitted to be undertaken on the property. This is a prescribed document which we need to attach to each contract for sale.|
|This is the plan registered with the Land Registry depicting your Lot on it. This is a prescribed document which we need to attach to each contract for sale.|
|Sewerage Service Diagram||$19.27|
|This is a diagram registered with Sydney Water depicting the sewer connections to the property. This is a prescribed document which we need to attach to each contract for sale (unless there are no sewer services)|
|Sewer Mains Location Reference Sheet||$14.24|
|Similar to the Sewerage Service Diagram, this shows the location of the sewer mains relative to the property. This is a prescribed document which we need to attach to each contract for sale (unless there are no sewer services)|
|Registered Dealings (estimate only)||$53.85|
|Properties often have dealings registered on their title. These can be various such as Rights of Way, Easements permitting various types of access (for example drainage and sewerage), and, in the case of strata properties, registered by-laws. Each of these dealings, if they are remaining on title at settlement, are a prescribed document which we need to attach to each contract for sale|
|Section 184 Certificate (sometimes negotiable)||$142.85|
|This is a certificate issued by the Body Corporate verifying the amount (if any) of arrears there are with respect to Strata Levies and what has been paid in the last year. It is sometimes possible to negotiate for the buyer to pay for this but it is not always possible.|
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.