For first time Buyers (and sometimes Sellers), the final steps after signing the paperwork and shaking hands on the deal can be rather daunting. The guide below shows the typical closing costs for a straight forward Sale and Purchase transaction. We have not considered Tax and have assumed it is a cash transaction and not mortgage.
Closing Costs (expressed as a percentage of the property purchase price):
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- Legal fees of 1% - 2%, paid by Buyer
- Stamp duty of 1%, paid by the Buyer
- Title Registration fee of 0.05%, paid by the Buyer
- Real Estate Agent’s commission fee of between 2% - 10%, paid by Seller
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