Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Legal Fee
A legal fee is paid to a broker or some other party who handles bank documentation and other paperwork on your behalf. It can also refer to other fees required during the purchase of a property, such as surveys, stamp duty, valuation fees, and building insurance. Legal fees can add a significant amount to the total cost of a property, so first-time buyers are often surprised at the additional charges. In Australia, sellers are required to disclose the legal fee along with other additional costs to keep from misleading buyers.
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