What are the costs involved in buying or selling property?
A typical sale, which is called a “Gross Sale”, assumes that the vendor will be responsible for the payment of: 1. The real estate agents commission (if an agent is involved). The commission on the sale of residential developed property is 6% of the gross sales price. The commission on the sale of undeveloped property is 10%. 2. The Government Stamp Duty (Tax on the conveyance of real property). This is a graduated Tax.
