Property Sale Disbursement Summary for 15 Jefferey Road

Robert Commons Sale of 15 Jefferey Road, Camberwell VIC 3124 Sold to James Zhou and Bronwyn Zhou for $1,020,500.00 Contract exchanges on 11/01/2024 Settlement on 15/05/2024 Tax Invoice 15 May 2024 Money In $106,068.00 Money Out $16,264.00 You Received $89,804.00 Details for Account SAL00241 Money Out Money In $4,018.00 $4,018.00 $1,000.00 $100,000.00 Advertising * 15 Jeffery Road * Initial Deposit Balance of Deposit Part Bal of Deposit $1,050.00 Commission for 15 Jeffery Road, Camberwell * $12,246.00 Payment Withdrawal by EFT to sale Brightstone Law Practice Trust Account $89,804.00 [EFT Transfer to: Brightstone Law Practice Trust Account, (777000) - ***770] Balance remaining $0.00 Total Tax on income $365.27 Total Tax on attached expenses $365.28 Total Tax on agency fees $1,113.27 What is this disbursement for

The disbursement outlined in the provided information pertains to the sale of a property located at 15 Jefferey Road, Camberwell VIC 3124. Here’s a breakdown of the key components:

1. Sale Details: The property was sold for $1,020,500.00 to James Zhou and Bronwyn Zhou, with the contract exchanged on January 11, 2024, and settlement scheduled for May 15, 2024.

2. Financial Summary:

   • Money In: $106,068.00 (likely includes the initial deposit and any other payments received).
   • Money Out: $16,264.00 (expenses related to the sale).
   • Net Amount Received: $89,804.00 (the amount transferred to the Brightstone Law Practice Trust Account).

3. Breakdown of Money Out:

   • Advertising: $4,018.00 (costs associated with marketing the property).
   • Initial Deposit: $1,000.00 (part of the buyer's deposit).
   • Balance of Deposit: $100,000.00 (the remaining deposit amount).
   • Part Balance of Deposit: $1,050.00 (additional deposit amount).
   • Commission: $12,246.00 (the fee paid to the real estate agent for facilitating the sale).

4. Tax Information:

   • Total tax on income: $365.27
   • Total tax on attached expenses: $365.28
   • Total tax on agency fees: $1,113.27

Purpose of the Disbursement:

The disbursement is primarily for the settlement of the sale of the property, which includes:

• Payment of the real estate agent's commission.
• Coverage of advertising costs.
• Transfer of the net proceeds from the sale to the designated trust account.

In summary, this disbursement is related to the financial transactions and obligations arising from the sale of the property, including agent fees, advertising expenses, and the distribution of funds to the relevant parties involved in the transaction.