what are the costs to buying/selling house?

ali-t

NittyGritty wrote: »

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

The anticipated selling costs are approx £3,500.

this consists of estate agency fees £1150
marketing materials - £150
conveyencing £700
fee to hm customs £390
home report £500 (in Scotland)
registration on multi agency selling website. big companies locally don't use right move - £250
discharge of mortage - £60
property enquiries certificate - £80
searchers account - £80

Of this I had to pay £900 upfront

I can't remember the buying fees I worked out but I will be around £2.5K for stamp duty on a house under £250K

NittyGritty

thanks everyone for their input, just a quick update had 2 valuations done at the mo both come back with 1.5% fees (estate agents) got 2 more valuations 2moro, so got a rough idea how much the costs will be in selling house, got 1 more quick question can someone give me a breakdown of costs of BUYING a house,

superbabe612

We're buying a house for c. £200k and our estimated costs are as follows:
£99 mortgage arrangement fee (upfront)
£255 valuation (upfront)
£294 local authority searches (upfront)
c.£2000 stamp duty
c.£1000 conveyancing fees

£400 removal costs

Good luck!

RedfordML

Intresting thread...

We are looking to buy and sell houses for around £180,000.

We will be using an agent charging 1% fees to sell.

We have got a rough idea of £5,000 all in - so judging by many on here thats about right...

NittyGritty

if you go with one estate agent how long if any is the tie in with them before u can move to another estate agent if u feel you not getting anywhere with them? i know if u leave there is a fee to pay i,m just wondering can you actually state some sort of time frame like lets say 6 months into the contract? as anyone done this before?

hcb42

dont forget the vat on the fees...e.g.1.5% plus VAT, can be a big difference say on a £400K house!

NittyGritty

just got the fees back from estate agents, this is our breakdown in costs for selling

1.estate agents fee - 1.5%+vat of sale of house
2. conveyencers fees - £549+vat
3.EPC certificate - Free (due to us using their conveyencers)

i know theres removal costs etc, i,m just factoring in the agents and conveyencers fees above,(is it quicker to use a solictor instead of a conveyencer or are they roughly the same once house is sold/offer in

does the above costs sound about right? have they missed anything important that should we should factor in that they havent told us?

superbabe612

Do the conveyancing fees include telegraphic transfer fees? We also got charged because it was a leasehold property we were selling (I think they had to check the land registry). It wasn't much, though, about £50, plus £35 for TT fee (that they had to refund because they sent the proceeds by BACS!).

hazyjo

You can usually negotiate on EA's fees. Not always, mind. If there's a few (which it sounds like there are), you should be able to knock that 1.5% down a bit.

You can also usually negotiate on term. Six months would be ridiculous. I wouldn't want to sign up for more than 12 weeks, possibly nearer 8. Most don't charge for swapping agents once the term's ended - check this with whoever you go with.

Also bear in mind a lot of chains collapse. You will still incur solicitor's costs, possibly paying for two lots of searches, surveys, etc. You will (usually) only pay the EA costs if they find you a buyer and you complete on the sale. You don't pay them to buy.

Jx

devotee

hcb42 wrote: »

dont forget the vat on the fees...e.g.1.5% plus VAT, can be a big difference say on a £400K house!

That's what I was going to say, + Vat on everything except stamp duty.

Don't forget the mortgage fees, arrangement fees, surveyor's costs, transfer fees etc.

EA 1-2% + vat
Buying a freehold is about £1k plus stamp duty for solicitor only.
Buying a leasehold is about £1.5k as above.
Mortgage survey £300 + product fee can be as much as £1k
Surveyor £500-600
Check there's no exit fee from mortgage company too...
I'm sure I'm forgetting things but it all adds up to quite a lot.