Only selling-do I pay conveyancing fees & what other fees are there?

In_a_mess

Hi, am just about to out my house on the market to sell, then if and when it does sell we will jsut be renting for a while. I get the fees to be roughly as follows:
Hip pack £300
Estate agents 0.85% of selling price (been quoted)

Then what fees do I have, do I pay any conveyancing fees or it is just the buyer. If I pay- then roughly how much is this?

Cheers

PasturesNew

The conveyancer/solicitor fees, for them to check the contracts and do the exchange, this could be anything from £300-700 + VAT.

There might be a redemption charge from your lender, the admin fee for closing down your mortgage and paying it all off and closing the account down. Maybe £25-100.

Money transfer fees (from your solicitor), to get your money into your account on the same day the sale completes. Maybe £25.

BitterAndTwisted

Yes, you will have to cover the fees of the solicitor doing the conveyancing on your behalf. The amount can vary so you should shop around but do not engage any solicitor the agents recommend you use without knowing what an independent one will charge you. What about the firm which arranged the original purchase for you?

In_a_mess

Thanks all - was just checking, couldn't remember whether the buyer paid conveyancing am just trying to plan ahead. Will shop around for someone for someone as well as someone for a Hip pack.
Seems like a lot of people make a lot of money from one house sale.

BOGOF_Queen

If you have a mortgage to redeem, your solicitor will charge for sending the monies to the mortgage lender - approx £30 plus VAT.

G_M

For the conveyancing (sale) process see here.

For getting conveyancing quotes see here.

If you have no mortgage you could do it yourself if you are savvy enough, have a good enough book to guide you and have the time.

Richard_Webster

If it is flat there may be fee to the landlord/managing agent to provide information about service charges, insurance and future works. Buyer's solicitor nearly always wants this information obtained and seller has to pay for it. Cost varies with managing agent - anything between £50 and £300.

wodgerdodger

Richard_Webster wrote: »

If it is flat there may be fee to the landlord/managing agent to provide information about service charges, insurance and future works. Buyer's solicitor nearly always wants this information obtained and seller has to pay for it. Cost varies with managing agent - anything between £50 and £300.

If leasehold then this detail should be in the HIPS pack

pastmybest

wodgerdodger wrote: »

If leasehold then this detail should be in the HIPS pack

Sorry but No its not as I have just been through this on a leasehold and there was stilll a need to wait for the management co to provide information.

Patr100

In_a_mess wrote: »

Estate agents 0.85% of selling price (been quoted)


Cheers

That's quite low - where did you get a quote like that?

Cazzr

We had a local EA flyer through the door offering 0.8%. Maybe a sign they are struggling to get sellers..?
We plan to get them to quote but seriously thinking of going with Housenetwork to save on dosh..