Hidden Costs You are Unaware of While Selling Your House
                     Hidden Costs  
You are 
Unaware  of 
While Selling  
Your House
“As a real estate agent offering my services in Hampton Park, Pakenham, 
Lyndhurst,  and the nearby suburbs, I would like to apprise you of the 
costs that a vendor may have  to go through while selling their homes.”
Selling a house in Australia is a pricey venture, pretty much for everyone. 
This is  because number of hidden costs are involved in selling a property 
and these unfold  slowly with each step coming as a surprise. A layman 
unaware of the real estate market  may find himself lost in the process 
of selling a home. That is why there are real estate  agents.
All those who think they don’t need a real estate agent have not 
known the role they  can play in selling their home at a great price. 
Read this blog to know the reasons why  you still need a real estate 
agent.
Now, let us get back to the costs involved. Apart from agent’s fees, 
conveyancing,  maintenance, marketing expenses, there are myriad of 
other expenses that can add up  quickly unknowingly.
Agent’s Fees
While selling a home in Australia, you may have 
to choose  between two types of agent’s fees – 
Commission or flat fee.
A flat fee is something you and your real estate 
agent agree  upon before the property goes to 
market. The cost remains the  same regardless of 
how much your house sells for. You may  even have 
to pay to the agent even if your property does not  
sell. A commission on the other hand is the 
percentage of the  final sale price that you give to a 
real estate agent. The  commission percentage can 
range from 1% to 3% but these  are influenced by 
number of other factors too like your house  worth, 
competition for business among real estate agents.
Marketing Fees
Marketing plays one of the most essential roles in 
securing the  best price to sell your home. If you 
aren’t able to showcase the  best features of your 
house, there is no way you can sell it. But  to do that 
you need to spend a little before marketing your  
house. For that you may have to consult professional 
home  stylists and present your home in the best 
light possible. Other  than this, typical expenses may 
include a board, or a sign in  front of your house, 
listing the property on the best Australian  sites, 
copywriting for property, creating a floor plan,  
photography for listings.
Capital Gains Tax
This is the tax you pay to the Australian Government 
when you  are selling your investment property (the 
property that you do  not live in). It does not apply to 
the principal property you live in.  You are liable to 
pay the Capital Gains Tax if you make a profit  from 
increases in the value of your valuable asset. The 
profit you  earn from the time you buy it to the time 
you sell your  investment property.
The amount of CGT you will need to pay depends on 
the profit  you make by selling your property and the 
expenses incurred  from owning the property. The 
CGT is calculated based on the  sales price of the 
property minus expenses, which include;  stamp duty, 
sales fees, legal fees, advertising, marketing fees,  
ownership cost, title cost, renovation cost. To know 
about all  these costs in detail, reach out to the best 
real estate agent, for  he would guide you 
throughout the process and keep you  informed.
Conveyance Fees
After the sale of your property, the next step is to transfer the legal ownership of your 
property from one  owner to another. This can be done by licensed solicitor, and 
conveyancers.
“It is recommended to contact a local and a licensed solicitor, says Manny Singh”.
Lenders Fees
If you have a mortgage on the current home you are selling, you will have to pay your 
lender a discharge or  an early exit fee. The charge may vary from customer to customer. 
You need to see that your lender has  his/her own mortgage discharge form to fill.
Outstanding Council Rates
These are probably the most easily forgotten costs. As the owner of the property, it is 
your duty to stay  updated with the council rates including the day of settlement. Any 
outstanding rates are paid from your  sales proceed.
There are a lot of other formalities that go into while selling your house. If you are thinking 
of selling, then it  is always good to have an experienced real estate agent by your side. 
You never know how much burden a  top realtor can take away while donning several hats 
in a day. To know, read our blog What roles a real  estate agent plays in a day.
Whether you are selling your home for the first time, or you are an experienced 
vendor, you may end up  making some of the common mistakes while selling your 
home. Since the real estate market is evolving  every day, it is important for you to 
avoid some of the mistakes while selling your home.
GET IN TOUCH
3 Withers Ct, Pakenham VIC 3810, Australia
+61 423 277 447
[email protected]
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