Cost is a big consideration when deciding on a settlement agency, so it’s important to understand what you’re paying for.
A professional settlement fee covers the necessary costs of the settlement process, including preparation of documentation, ID checks, insurance costs, storage fees and postage and petties. Typically, it costs more when you’re buying than when you’re selling because of the extra work required.
Other fees may include office and administrative costs, title search fees, enquiry fees with the relevant authorities, stamp duty and registration fees associated with transferring land or property, and obtaining any necessary certificates. In some cases, extra work may be required which may also result in additional fees.
Referring to settlement agents will make it easier to anticipate costs associated to a rather challenging settlement.