Typical Sale Costs
Selling Cost components |
Percentage Cost |
House $300K |
House $400k |
House $500K |
Buyers discount off asking price |
10.00% |
30,000 |
40,000 |
50,000 |
Agents Commission on sale price |
3% |
8,000 |
10,000 |
13,000 |
Cost of Money to settlement |
8% |
1,800/mth |
2,400/mth |
3,000/mth |
Rates/strata Fee's |
150/mth |
150/mth |
150/mth |
150/mth |
Property Maintenance |
100/mth |
100/mth |
125/mth |
150/mth |
Land Tax Investment Prop.s |
1.50% |
338/mth |
450/mth |
560/mth |
Insurance Costs |
1% |
222/mth |
300/mth |
375/mth |
Conveyancing Costs |
$1,500 |
1,500 |
1,500 |
1,500 |
Advertising Costs |
300/mth |
300/mth |
300/mth |
300/mth |
Total Costs to settlement |
Time Period |
|||
2.5months |
46,775 |
60,062 |
75,837 |
|
4months |
51,140 |
65,200 |
82,640 |
|
6months |
56,960 |
72,000 |
91,700 |
|
Net Cash From Sale in Hand |
||||
2.5months |
253,225 |
339,938 |
424,163 |
|
4 months |
248,860 |
334,800 |
417,360 |
|
6 months |
243,040 |
328,000 |
408,300 |
|
About US
These figures are typical only. You would also need to factor in to this any rent received whilst your home is on the market Etc. But as you can see the costs of selling are something no one ever points out to you and are therefore generally overlooked, but when considered it makes wholesale selling a much interesting prospect for the averagel seller.