Different law firms different price, Here are 3 things you need to ask
- Does it includes $500 mortgage stamping fees.
- Does it includes GST.
- Which bank panels you are in.
Here are the breakdowns.
1. Does it include the $500 mortgage stamping fees?
Like stamp duty on a property purchase, there are also stamp duty on the loan that you take (capped at $500). so you need to check if the fees include this.
2. Does the fee includes GST? This is important to know as you can potentially save a couple of hundreds bucks if its included.
3. Which bank panel are you in? this is important as being in the bank panel will allow them to drawdown the loan for your purchase. There might be additional cost if they are not in that particular panel and have to engage another law firm just to represent the bank for the loan drawdown.
What may look like a good price might come with additional cost. so its prudent to check out the cost before committing.
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