Estimate agent, legal and other costs of selling.
Selling costs are easy to underestimate because most of them come out of the settlement proceeds rather than your bank account. The main items are agent commission, marketing and campaign costs, conveyancing, any repairs or presentation work, and the discharge fee on your existing loan. If you are selling an investment property, capital gains tax may also apply.
Agent commission and the marketing budget are two different things, and both are negotiable. A campaign cost is usually payable regardless of whether the property sells, so it is worth being clear on what is included before signing. Comparing agents on commission alone, without the marketing figure, can be misleading.
The useful output is not the sale price but what is left after costs and after your loan is discharged. If you are buying again, that figure is your deposit for the next purchase, and knowing it early determines what you can realistically buy.
A calculator gives you a starting figure. What a lender will actually approve depends on your income, expenses, credit history and the property, and it varies between lenders. We compare more than 40 lenders on our panel and will tell you where you genuinely stand — see our home loan, refinancing and car loan services, or the suburb pages for Werribee, Tarneit and Point Cook.
Generally not on your main residence, but often on an investment property. The rules depend on your circumstances — speak to your accountant.
A fee your lender charges to release the mortgage over the property at settlement. The amount varies by lender.
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