Selling a house ?

travelmonster

Okay guys


If I was to sell a house worth around 90k (no mortgage). What costs/ fees should I expect roughly ?

Could it be done privately with just a solicitor ? Or do I need EA?

How long typically does it take to sell a house if we end up finding a buyer ?

Pixie5740

How long is a piece of string?

You don't need an estate agent but if you didn't use some form of estate agent how would you market the property? How would you get it on sites such as Hoopla and RightMove?

Since you don't have a mortgage I think you could possibly do your own conveyancing but unless you're confident you know what you're doing I don't think it's something you should DIY.

I think average house purchase in England and Wales takes about 3 months.

G_M

You could save on solicitor fees and DIY the conveyancing if

* no mortgage
* freehold
* no strange covenants
* registered

Assuming also you are

* literate
* reasonably intelligent
* able to follow processes with attention to detail
* have access to a decent guide (below)
* have time to spend on it for the learning process

https://www.amazon.co.uk/diy-conveyancing-Books/s?ie=UTF8&page=1&rh=n%3A266239%2Ck%3Adiy%20conveyancing

No need to use an estate agent so long as you have a plan for how to find a buyer!

travelmonster

Thanks for that. But since its such a big thing. How much would a conveyancer or solicitor cost ? And also how much is a general EA cost ? Is there a fee or a percentage I need to pay ?

travelmonster

All these things apply to my house .. is the diy process complex ? And also do I not need a solicitor to handle payments from the buyer or soemthing like that ?

G_M wrote: »

You could save on solicitor fees and DIY the conveyancing if

* no mortgage
* freehold
* no strange covenants
* registered

Assuming also you are

* literate
* reasonably intelligent
* able to follow processes with attention to detail
* have access to a decent guide (below)
* have time to spend on it for the learning process

https://www.amazon.co.uk/diy-conveyancing-Books/s?ie=UTF8&page=1&rh=n%3A266239%2Ck%3Adiy%20conveyancing

No need to use an estate agent so long as you have a plan for how to find a buyer!

G_M

travelmonster wrote: »

All these things apply to my house .. is the diy process complex ? And also do I not need a solicitor to handle payments from the buyer or soemthing like that ?

Assuming all the factors I listed, then no it's not complex in 99% of cases.

It's basically a step-by-step process, but each step must be completed precisely.

If you hit a problem (1%) then hand over to a solicitor.

The final, key step is receiving the money which obviously you must verify before handing over the property (keys & form TR1).

If you want more information because you are seriously considering doing this, don't post questions here, read the books listed. If you can't be bothered to read them, and prefer to ask, then I suggest DIY conveyancing is not for you!

hazyjo

travelmonster wrote: »

Thanks for that. But since its such a big thing. How much would a conveyancer or solicitor cost ? And also how much is a general EA cost ? Is there a fee or a percentage I need to pay ?

I'd always employ a solicitor (despite working in law and being reasonably knowledgeable on all things property related).

EAs charge a percentage usually (sometimes different on cheap properties where there may be a minimum fee). I'd not pay more than 1% + VAT (they're usually negotiable). Depends if they have the monopoly on the market I suppose!

Jx

kpwll

Last September it cost us £435 for conveyancing and the estate agent charged us 1% + vat (of sale price) for selling the property. Freehold, no mortgage, no covenants & registered with Land Registry.

travelmonster

Oh cheers guys ! Really appreciate all the advice. So is filling the actual forms a lengthy process ?

G_M

travelmonster wrote: »

Oh cheers guys ! Really appreciate all the advice. So is filling the actual forms a lengthy process ?

https://www.amazon.co.uk/diy-conveyancing-Books/s?ie=UTF8&page=1&rh=n%3A266239%2Ck%3Adiy%20conveya ncing