Every seller hopes to keep as much of the sale price as possible. It is normal to feel unsure about agent fees, legal costs, and bank charges. How much will you take home once every bill is paid?

How Much Does It Cost to Sell a House in Victoria?

Continue reading to learn the costs involved in selling a house in Victoria. You will also see typical price ranges and which fees you can negotiate.

Key Takeaways

• The cost to sell a house depends on its value, location, and sale method.
• Agent commission ranges from about 1.5% to 3% of the final price.
• Sellers can negotiate the rate and marketing fees before signing the sales agreement.
• A standard advertising campaign in Victoria costs between $2,000 and $10,000.
• Sellers at auction pay an extra $400 to $1,000 for the auctioneer.
• A conveyancer charges about $800 to $2,500 for the contract and transfer of ownership.
• Mortgage discharge fees and capital gains tax on investment properties may also apply.

What Affects Your Total Cost

The cost of selling a house depends on your home’s value, location and sale method.

A higher price means a bigger commission in dollars. Agent rates also tend to be lower in premium Melbourne suburbs than in regional towns.

Sellers who choose an auction pay an extra auctioneer fee. In Victoria, the buyer pays stamp duty.

Agent Commission in Victoria

Commission is the biggest selling cost for most homeowners. Rates range from about 1.5% to 3% of the final sale price.

For example, a 2% commission on a $900,000 home comes to $18,000.

Some agents offer a fixed fee instead of a percentage. Others charge a higher rate on any amount above an agreed target price.

Negotiate Before You Sign

The sales authority is the written agreement between a seller and their agent. The form includes a statement confirming the commission and marketing costs are negotiable.

Ask two or three local real estate agents for a written quote. Compare the rate, the marketing estimate and the services included. Confirm whether GST is part of each quote.

The Cost of Advertising Your Home

A standard marketing campaign in Victoria costs between $2,000 and $10,000. Typical items include professional photos and online listings seen by potential buyers.

Sellers of larger homes can add video and drone footage for an extra fee. Professional styling is a separate, optional cost of about $2,000 to $6,000.

The sales authority lists the estimated marketing costs. You pay them upfront at signing or later when the agent asks in writing. The amount applies whether or not the home sells.

What an Auctioneer Charges

The auctioneer fee ranges from about $400 to $1,000. Ask the agent if the quoted marketing costs already include it. Sellers who choose a private sale avoid the charge.

Legal Fees for Your Sale

Conveyancing is the process of transferring legal ownership of a property. A conveyancer or property lawyer charges about $800 to $2,500 for a sale in Victoria. Property searches add around $200 to the conveyancing fees.

The conveyancer prepares the contract of sale and the vendor statement. Known as the Section 32, it lists key facts about the land, including rates and title details. Under Victorian rules, buyers must receive it before they sign the contract.

Melissa Barlas, founder of Conveyed, brings over a decade of experience in property law. The firm has completed more than 4,000 sales and purchases in Australia.

Settlement Costs and Capital Gains Tax

When selling a property with a home loan, you pay out the debt at settlement. Mortgage discharge fees include a lender charge and a Victorian government fee of just under $200. Ask your bank about break costs if you repay a fixed-rate loan early.

At settlement, council and water rates are split between buyer and seller by date. If you paid ahead, the buyer refunds the share for the days they own the home. You cover any balance owing up to settlement from the sale funds.

You may need to pay capital gains tax (CGT) when selling an investment property. A main residence, the home you live in, is generally exempt. An accountant can confirm the tax position before the sale.

Property lawyers check each settlement adjustment and the final payout figures for you.

Plan Your Sale With Confidence

With clear numbers, you can negotiate fees and budget for your next home. Every seller has different questions about agent agreements, contracts and settlement figures. When you are ready, book a meeting with Melissa Barlas to talk through each step of your sale.

Frequently Asked Questions

Can You Sell a House Without an Agent in Victoria?

Yes. Owners can sell privately without a licensed real estate agent. The seller then organises advertising, inspections and negotiations with potential buyers.

When Do You Pay Real Estate Agent Fees?

Commission is due when the property sells, under the terms of the sales authority. The form also lists the estimated commission as a dollar figure.

How Much Do Minor Repairs Cost Before Selling a Home?

Small jobs such as painting and garden work can cost up to about $2,000. The final amount depends on the condition of your home.

Can You Rent Out Your Home and Keep the CGT Exemption?

Generally, yes. If you lived there first, you can move out and rent it for up to six years. The full exemption applies while no other property is your main residence. An accountant can confirm the details for your situation.

How Is Capital Gains Tax Worked Out When Selling an Investment Property?

CGT is based on the profit you make on the sale. The tax office subtracts what you paid for the property from the sale price. Stamp duty, legal fees and agent commission also count as part of your costs. The final gain goes into your taxable income for the year.