Property Buying and Selling Costs Calculator

Typical costs may include Stamp duty, Lender’s Mortgage Insurance (LMI), Transfer fee, Title search fee, Conveyancing fees, Building and Pest inspection and Mortgage registration fee.

Stamp duty is a government tax imposed on the transfer of property ownership and other transactions. It is calculated as a percentage of the property’s purchase price or market value and varies by jurisdiction. Factors affecting stamp duty include property type, buyer status (e.g., first-time homebuyer), and location. Exemptions or concessions may be available for eligible buyers.

Lenders Mortgage Insurance (LMI) is insurance that protects the lender (not the borrower) in the event that the borrower defaults on their home loan.

LMI is generally required when the loan-to-value ratio (LVR) is above 80%. This means the borrower is borrowing more than 80% of the property’s value.

Typical costs include real estate agent commissions, closing costs, repairs, home staging, property taxes, transfer taxes, and possible mortgage prepayment penalties.

Closing costs usually include loan origination fees, appraisal fees, title insurance, attorney fees, survey fees, and document preparation fees.

You maybe able to take advantage of Bridging loans. They are short-term loans designed to provide quick access to funds for a temporary period, typically used to “bridge” the financial gap between the sale of an existing property and the purchase of a new one. They are often utilized in property transactions, allowing borrowers to proceed with the new purchase before selling their current property