In a typical property transaction, conveyancing expenses are shared between both parties, though the exact division may vary, but generally:
Buyer’s Expenses:
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Purchase Price & Deposit: Payment for the property and an initial deposit held in escrow.
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Conveyancing Fees: Costs for legal work, including property searches and contract reviews.
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Mortgage-Related Fees: Application, valuation, and registration fees if financing is needed.
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Stamp Duty/Transfer Taxes: Taxes based on the purchase price.
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Surveys/Inspections: Fees for assessing property condition.
Seller’s Expenses:
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Conveyancing Fees: Legal fees for managing the sale process.
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Agent’s Commission: Payment to real estate agents, usually a percentage of the sale price.
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Mortgage Discharge Fees: Costs for releasing any outstanding mortgage on the property.
