First State Conveyancing

Settlement Price Adjustments

The time during which you will own a property that you are buying or selling will almost always span a the accounting period for authorities and organisations with the right to charge fees to the owners of the property. This commonly includes fees such as local government rates, state government levies or taxes (such as land tax) and body corporate fees for units.

Part of the conveyancing process involves making relevant adjustments in the purchase price to account for each party's share of these fees.

Other adjustments that will sometimes be made include rental adjustments and fees for the release of existing mortgages.

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