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£10k to move house?! so far i'm reckoning £3k ish
pault123
Posts: 1,111 Forumite
On a previous post it was suggested at least £10k is needed to move house.
What am I blatantly missing in my calculations here
New house stamp duty on less than £175,000 nothing until Dec 2009? (house is £150k)
EA fees 1.5% on £130k (estimate sell price) £1950 / Selling fees if using house network £500
Valuation £400
Legal £750
Hire transit for one day for removals £60 (new house very close so 5 transit journeys should do it!)
Home buyers pack?
What have I missed?
So far going the EA route £3160 / house network £1710
What am I blatantly missing in my calculations here
New house stamp duty on less than £175,000 nothing until Dec 2009? (house is £150k)
EA fees 1.5% on £130k (estimate sell price) £1950 / Selling fees if using house network £500
Valuation £400
Legal £750
Hire transit for one day for removals £60 (new house very close so 5 transit journeys should do it!)
Home buyers pack?
What have I missed?
So far going the EA route £3160 / house network £1710
0
Comments
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House purchase at £250,000, SD @ 3% = £7,500
What have I missed?
So £10,000 is realistic for many transactions, but as a guideline figure it is useless, because it depends so much on what you buy.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
£750 sounds slightly optimistic for a solicitor. Husband was quoted £2000, but found another who would do it for approx. £900.
I don't know if you've listed any surveys in there. Our (currently non-existent) Homebuyer's report came in at £400-odd.I used to have my Avon turnover (sales) here. They've been removed because it's not appropriate to talk about those kinds of sales as if they're realistic for a new Rep to aim for.
I signed up at the right time, right place, and was very lucky.0 -
Your legals are woofully low. For an average solicitor charging £500 + VAT per transaction plus you will get £600 worth of disbursements often unless the HIP is brand spanking new in which case you might save £200 of that.
Solicitors fees and associated for sale and purchase I would budget £1800.Everything that is supposed to be in heaven is already here on earth.
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no mortgage fees? are you porting, if so they will take the fee and then refund, theres always bank transfer funds and land registry fees too0
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Vat on EA fees too is missing.
Moving costs - a transit and 5 journeys isn't really on. You cease to own one place at a certain time and begin to own the other a little later. During that time in theory you should have fully vacated the house you are selling. What would you do if you completed on your sale at 12:00 but didn't complete on the one you were buying until nearly 5pm?0 -
he might not be completing on the same days though?? although unlikely, but yes, he has to be out as soon as the money transfer goes through for his buyer, at that point it becomes their home and he has to be out of there0
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DVardysShadow wrote: »House purchase at £250,000, SD @ 3% = £7,500
So £10,000 is realistic for many transactions, but as a guideline figure it is useless, because it depends so much on what you buy.
Not quite right - only 3% on over £250,000.00 - but a fair point!0 -
Mortgage fee (if you need another or a new mortgage): £200 to £1000
HIP on your current house: £200-£300
CHAPS fee to get your new mortgage: £30
All sorts of legal fees that will go on top of your lawyers fee (the quotes you get from lawyers don't include all these things usually but you still have to pay them to the lawyer) such as Land Registry fee (around £280), searches if they need to be redone on the house you are buying (can't remember how much, around £100), chancel liability search/insurance (£15+), Stamp duty land registry form (sometimes quoted separately for some reason, around £75), and VAT at 15% (soon to be 17.5%).0
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