In this edition of Ray White Rosebud TV, Craig Bennie discusses the main costs associated with selling real estate. See the complete transcript below.
Hi, and welcome to Ray White Rosebud TV. My name’s Craig Bennie, director here of Ray White Rosebud. Today, I want to talk to you about the costs in selling your home. There are several costs in selling your home, one being the advertising costs, and these can generally range between $2,000 and $5,000 down here in Rosebud, depending on the print media content and the size of the advertising you’re looking at doing. The other cost is your legal costs. Generally speaking, they could be either side of $1,000. The third cost is your commission, and this is only payable on a sale, or otherwise called a success fee. Commission can range between 2 to 3% of the sale price.
Obviously, with a home that is your principal place of residence, there is no capital gains; however, with an investment property, there is capital gains tax. This is something you need to speak to your accountant about to find out further information on your particular circumstances. In relation to stamp duty, stamp duty’s only paid upon buying real estate. It’s not paid when selling.
Hope this helps you out with your selling process. Hope to speak to you soon. If you have any questions, please feel free to call me here at Ray White Rosebud.
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