How much cash is needed ??

Sugarplumfairy_2

Hi,

I am currently putting my house on the market and searching for something smaller. EA has advised me that I can pay marketing fees etc out of proceeds of house sale. But what I need to know is how much money I will have to have to purchase another house... surveys etc that I will have to find before I sell my own house.

I have zero cash at the the mo so was hoping solicitor would take all expenses off at end ... is this possible ??

lynzpower

No its not.

Youll have to pay for the survey generaly upfront, and thats around the 200 quid mark.and thats valuation only Sometimes these CAN be added to the mortgage cost tho.

Your solicitor will usually ask for part payments for the searches upfront, and also a bit towards thier labour. You can negotiate with this.

I sold my place and went into rented, and i ddint ahve a huge amount of money but had to pay leasehold report charges, solicitors fees, 200 quid to housenetwork and of course removals and all that jazz.

I would be interested to hear how you go on, I tihnk its impossible to get away with paying nothing upfront, but maybe I didnt negotiate hard enough

pickles110564

Sometimes your lender will do deals to keep your business i.e. they wont charge survey fee etc if you agree to take new mortgage out with them.
They also have solictors that can do all the work for you and they can sometimes cover the costs of these as well.

On our last purchase completed just over one month ago, the HSBC covered our survey costs and mortgage costs, all we paid was £200 up front to our solicitors to cover the initial charges.

Everything else came out of the completion funds.
HTH