Buying
Fees
We offer fixed professional costs that reflect the knowledge and service we provide.
As part of the service we offer, we undertake various searches of the local Councils, the Land Titles Office and other relevant organisations for information about the property you are purchasing. There are various fees attached to these searches and there are also registration fees payable to the Land Titles Office.
Purchase
You will need to budget for approximately $1100-$1200 in fees and disbursements in addition to our professional costs (see below for further information on our professional costs).
This includes a fee of $250.21 to register the transfer of the property into your name/s, together with relevant title, rates, council, property information and land tax searches.
In addition, you have to pay a government tax known as Stamp Duty on any purchase of property in Tasmania. The Stamp Duty payable varies according to the purchase price and increases as the purchase prices increases. Click here for the Tasmanian Revenue Online (tro.tas.gov.au) to calculate the Stamp Duty payable.
Purchase Transaction Guide
VOI to enable us to act on your behalf we are required to take reasonable steps to verify your identity. This can be done in several ways.
INFOtrack remotely or in our office by appointment
Australia Post
Right to Deal: It is now a legislative requirement to prove you have the right to deal with the property. To do this it would usually be us confirming your name and address from your Identification matches that on the Contract of Sale
Organise building and contents insurance to cover the new property.
Attend to connection of electricity, phone and gas at the new property
Notify change of address to relevant organisations (bank, insurers, doctors, telecommunications, electoral roll, etc)
Tips for buying property in Tasmania.
Buying a property can be complex, but being prepared makes all the difference. These are a few key things to help ensure a smooth process from start to finish.
-
In Tasmania, there is no legislated vendor disclosure regime, and properties are sold on an “as is, where is” basis. It is essential that you fully understand the terms and conditions of your offer before signing any documents. If you are unsure, we strongly recommend engaging a professional to review the contract and provide advice before proceeding.
-
The deposit referred to in your offer is a contractual deposit, typically payable within a few days of signing the contract. It is commonly held in the real estate agent’s trust account and forms part of the purchase price. This amount is separate from the deposit you may be contributing from your savings or loan towards settlement, often referred to by your bank or broker as your ‘bank deposit.
-
Property transactions are frequently targeted by cyber criminals. It is critical that you ALWAYS verify any bank account details before transferring funds. For example, if you receive account information via email, you should always call the intended recipient to confirm the details. Please note: our office will never send trust account details via email.
