Selling and buying - costs?

summer1982

Hi guys,

I'm trying to work out the costs of selling this house and buying another, really don't want to miss anything out so feel free to add to my list and put your experiences of costs (hidden etc) that I have missed, it would be very helpful....

Selling -
HIP - £300 (?)
Estate agent fee - agreed % eg sold price £190k @ 1% - £1900

Buying -
Survey £500
House obviously lol

Both -
Solicitors fee - £2500 (this is based on the fee when we bought this house, how much more would it be for the solicitor to act on both - your sold house and your new purchase?)

Thanks guys

firstaspect

HIP doesn't exist anymore, you just need a basic EPC which you can get done for around £50.
You'll also potentially have to pay stamp duty on your purchase dependant on the price.

p00hsticks

buying - search fees
removals

nell53

Don't forget that VAT at 20% will be added to the EA fees [£380] unless they have quoted inclusive of VAT.

evoke

Basic costs for me excluding stamp duty on my purchase:

Conveyancing - selling my leasehold: £1,200 (this includes the extortionate fees of nearly £500 paid to RMG (management company) for a leasehold information pack and fire risk assessment)
Conveyancing - buying freehold: £1,000
Fee to EA for sale of my property: £3.5K (1.5% of purchase price)
Survey on property that I am buying: £460
EPC: £120

Then factor in £500 to £1,000 for removals

TOTAL: Approx. £7,300 (worst case scenario)

Then add in stamp duty if applicable (£10K in my case).

GRAND TOTAL for me will be approx £17,300 to sell my property and buy my next property.

googler

Mortgage fees if your sol hasn't included them

Removals and storage, if applicable

Did your sol fee £2500 include stamp duty at that time? If not, that seems expensive. Round my way, I'd be looking at £800 - £900 for each transaction - £1700 total plus stamp duty.

summer1982

googler wrote: »

Did your sol fee £2500 include stamp duty at that time? If not, that seems expensive. Round my way, I'd be looking at £800 - £900 for each transaction - £1700 total plus stamp duty.

No, stamp duty didn't apply..thats got me thinking now, I didnt question it at the time as we had nothing to compare it to, I'm going to have a look at the invoice now, and probably wont be using him again!

Thank you