Consider your liabilities BEFORE accepting a purchase price
It may seem obvious, but if you are selling a property, you need
to consider a number of fiscal issues such as Land Tax, CGT, GST
and mortgage costs before accepting an offer by a prospective
purchaser.The figure you think sounds acceptable in the heat of the
negotiations, may not actually be enough!
The purchase price you accept for a property should always be
adequate to cover all of the costs associated with the sale, as
well as any liabilities you may have incurred in connection with
the property. These additional costs, in many instances, are not
limited to just the sales agent's commission and solicitor or
conveyancer's fees. All too often, Vendors accept a figure in
the hope of a quick sale, only to find that they face hidden fees,
charges and taxation costs they were unaware of.
