what are the costs to buying/selling house?

NittyGritty

hi all, i,m a total newbie regarding costs involved, all i know is the estate agants can charge anything from 1% +
my question to you is what other costs are involved in selling a house(my mother is thinking of moving)
can someone fill in the blanks if there are any below

1. estate agents fee = 1%+ of house sale
2. ?
3. ?
4. ?
5. ?

and can all these fees be paid once house is sold or are some of the above (hopefully filled in) have to be paid upfront? if so how much or roughly how much are these costs

also vice versa in buying a house what costs are involved

thanks in advance

NittyGritty

anyone ? advice would be grateful thanks

olias

EA fees as you state are usually 1%+, but these days a lot of agents also have an 'admin fee' of £199-£299 as well and also charge for marketing - about £50 each time it is in the paper.

On top of that you will have to budget for solicitors fees, ballpark figure of £1000 for buying and selling.

Assuming she is buying another property, there will possibly be stamp duty to pay on that purchase £? depends on value of property, but will probably be several thousand.

Survey on the property she is buying - £300-£900 depending on type of survey.

Removal costs - depends on how far, whether it's DIY etc. Anything from £150 to hire a van for the day to £1500 for full professional movers long distance.

There are also lots of other little costs which add up - utility bills might be in debit so need paying off, telephone line putting in new property etc etc.

To give you an idea, I am selling a £200000+ property and will be buying a similar priced one, and expect to pay around £7-8000 all together.

Olias

Tigerlilley1980

Hi there we had a arranged a fixed fee with our estate agents that included the conveyancing for selling and that was £1300.

For our purchase it cost:

Survey £350
Mortgage arrangement £295
Conveyancing £1000
Stamp duty £1350

NittyGritty

when you say solicitors fee, can this be paid once house is sold or does it need to be paid upfront before house sale?

also i seen something about conveyencer do i need this for selling or is it up to the buyer to do this, if so how much roughly do they charge if its up to the seller?

olias

The majority of the solicitor or conveyancer fees are paid after the sale (ie can be paid out of the proceeds of the sale). There will be a few searches though, that are charged for at the time, but these shouldn't amount to more than a few hundred pounds.

A conveyancer does the same job as a solicitor, you can choose either. A solicitor will charge more, but is more experienced/qualified. You choose the solicitor/conveyancer to deal with your sale and the subsequent purchase, it has nothing to do with the person you buy off - they have their own solicitor.

Olias

NittyGritty

how much roughly are conveyencer to solicitors and what exactly do they do regarding the sale of the house?

olias

Oh come on, this is getting silly now!

A solicitor is a solicitor!!!!!!!!! He has experience of and is qualified in all law - this includes property law - conveyancing - which is the purchase sale and aquasition of property and land.

A conveyancer is simply someone qualified in conveyancing, and that is all.

Usually a solicitor is more expensive than a conveyancer for these reasons, but there may be occasions when a good conveyancer is more expensive than a poor solicitor and vice-versa.

Olias

ali-t

It is going to cost me £7k to sell and buy a house. This is for a house that will sell for less than £150k and for purchasing a house of around £250k. This is based on stamp duty costs of a house less than £250k.

NittyGritty

do you mind me asking what the breakdown of the 7k cost to move is, i know about the stamp duty bit, dont think that be relavant to us tho as it be under 125k

Riq

I bought my house for £165k and fees including stamp duty totaled about £2,200 I think.

£1650 for stamp duty
£200 for search
£250 for other things which I can't quite remember, but remember them listed!
£50 for bank fees

I didn't have to pay professional fees for solicitor to be fair as I had them done as a favour from a mate.