PURCHASING COSTS
Typically, Buyers and Sellers split the Stamp Duty Fee and Conveyance Fees associated with a Property Transaction.
STAMP DUTY FEES are based on the Purchase Price of the Property and can be calculated from the rates listed.
CONVEYANCE is the legal process of Property Transactions. This process includes producing a Certificate of Title, Land Title Registration and many other legal requirements.
A Purchaser usually chooses the attorney to conduct the property transaction, however the Buyer and the Seller are separately responsible for costs involving personal advice and negotiation by their respective attorney. Basic costs of Certificate of Title may be calculated from the rates listed.
It is recommended that you meet with your attorney to confirm all other costs involved.
Stamp Duty
| Stamp Duty Band | Rate |
|---|---|
| First $100,000 | 2.10% |
| Next $400,000 | 3.15% |
| Next $500,000 | 4.20% |
| Next $500,000 | 6.30% |
| Over $1,500,000 | 7.35% |
Certificate of Title
| Conveyance Band | Rate |
|---|---|
| First $250,000 | 1.25% |
| Next $250,000 | 1% |
| Next $500,000 | 0.75% |
| Next $1,000,000 | 0.50% |
| Over $2,000,000 | 0.25% |
FINANCING & MORTGAGES
As you begin your search for your dream home or property investment, you need to establish the price level your search should be based on.
Our handy estimators will help guide you as you begin your property search.
It is never too soon to meet with your banking institution to discuss your options and the financing package they can offer you. Knowing the price range of your purchase will be helpful to you as you view and consider specific properties