We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Fees when selling house
Raspberry_Swirl
Posts: 1,386 Forumite
I might have to sell (partnership breakup) but am hoping it will be signed over into my name. In the mean time I'm checking out the cost of selling just to see what we're left with after everything is paid for.
Am I missing anything?
Estate agents fee
Solicitors fee
HIP fee
Pay off mortgage and associated early payment fees
Thanks for any replies
Am I missing anything?
Estate agents fee
Solicitors fee
HIP fee
Pay off mortgage and associated early payment fees
Thanks for any replies
0
Comments
-
Estate Agent Fee - 1-1.5% of your property's value; Solicitor Fees - Estimate around £500; HIP -£200 - £250ish.0
-
What's the verifiable source for a range of 1.50% - 4.00% EA fees?
According to the OFT, the countrywide averages are 1.6% in England, and 1.1% in Scotland....... which implies a distribution around these figures.
Oh, and it's usually a percentage of the selling price, not the 'value' - although you can negotiate a flat fee with some agents. As I say, this will vary according to where you are in the country, so quoting percentages here is no guide - you need to speak to your local agents.
You need to consider whether a low fee paid to the likes of Houseweb may be false economy. This site has less than 30 properties for the whole of Scotland, a miniscule amount when compared to the whole market. Given this, why would any homebuyer look here in preference to other primary sources? Why would any home seller in Scotland put their property here, when nobody's going to look at it?
Count how many properties they have in your area before jumping in here.0 -
Blimey......1.5% - 4%???? I wish!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
MissMotivation wrote: »Blimey......1.5% - 4%???? I wish!
Like I say, if there's a verifiable source for it when compared to the OFT survey..... but I doubt it.0 -
The source is house web and EA fee depends on where you are in the country so I was just giving the potential range. For example, you'll struggle to get below 1.5% in Cambridge, but it's not impossible.
Some EAs have a fixed fee based on the original selling price, meaning that if you need to drop the price, you still pay the same fee. Not all work on a % of sale price. We had one that did and one that didn't.
It's for Raspberry Swirl to decide on what's best.....0 -
The source is house web and EA fee depends on where you are in the country so I was just giving the potential range. For example, you'll struggle to get below 1.5% in Cambridge, but it's not impossible.
Some EAs have a fixed fee based on the original selling price, meaning that if you need to drop the price, you still pay the same fee. Not all work on a % of sale price. We had one that did and one that didn't.
It's for Raspberry Swirl to decide on what's best.....
Can you provide a link for your source? I truly want to see where in the country an EA can command a 4% fee.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
Here you go http://www.houseweb.co.uk/house/sell/costs.html
By giving this example it shows how people may get ripped off....0 -
We have just had our house in Bristol valued and I expected the EA fees to be at the high end based on the prices of property etc. in this area.
However we were surprised to be offered 1.25% and 1.5% from 2 agents. The third had a fixed fee which actually worked out to be almost double this when you calculated it back to the expected house sale price.
To reduce costs it is often possible to negotiate these fees down as the EA's compete with each other for your business - the agents we chose were happy to match the lowest fees we had been offered and perhaps with more haggling we could have got it even lower!
Just thought I'd add my tuppence worth in with some recent figures from our experience in the Bristol area! good luck with the house sale 0 -
Just a small point to get back on topic.
If it’s signed over to you, ie: no marketing takes place, then you don’t need a HIP.0 -
We have just had our house in Bristol valued and I expected the EA fees to be at the high end based on the prices of property etc. in this area.
However we were surprised to be offered 1.25% and 1.5% from 2 agents. The third had a fixed fee which actually worked out to be almost double this when you calculated it back to the expected house sale price.
To reduce costs it is often possible to negotiate these fees down as the EA's compete with each other for your business - the agents we chose were happy to match the lowest fees we had been offered and perhaps with more haggling we could have got it even lower!
Just thought I'd add my tuppence worth in with some recent figures from our experience in the Bristol area! good luck with the house sale
Thanks for this. Looks like I've set the hare's racing with this one...!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards