Distribution of Settlement Funds

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  • #20242
    Camilla Webb
    Participant

      Greater Hume Shire

      Greater Hume Shire has recently completed a Sale of Land for Unpaid Rates and most of these properties were valnet found land so therefore had little to no value.

      we are currently at the process of funds distribution and an example of distribution is noted below
      Sale Price $2,600
      Rates and Charges $4,538.57
      Riverina Water $2,475.74
      Sale Costs $1,232.39
      Solicitor Costs $1,447.30
      Net Result – $7,094.00

      Can we deduct your costs of sale from the sale proceeds, before distributing between Council and Riverina Water?

      Thanks
      Camilla

      #20243
      Suzi Flynn
      Participant

        Sydney City

        Hi Camilla,
        Yes, you can deduct costs first.
        Regards,
        Suzi

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