Fee's to sell my 1 Bed flat - part ownership

Bionik

hello everyone,

I currently own a 1-bed property within a part ownership scheme. I own 40% of the flat.

I was seeking some advice on whether the fee's I have calculated are correct and whether I have missed anything. Also, any recommendations and tips would be greatly appreciated!

Fee's I have seen so far:

RICS valuation (compulsory by the housing association) - £250

Energy efficiency certificate (over 10 years since last) - £60

Estate agency fee - £900 with purple bricks or 1-2% with local estate agent - £1500

Solicitor fee - £1250/£1500

I am not sure of anything else or If I need to pay anything else i.e. stamp duty, Leese admin fees etc.

I originally purchased the property for £56,000 (£123,000 full price) and it is estimated by Zoopla from a sale of a neighbour's flat a few years ago that it is now £143000. It has gone up in value by £20k. Of course, I take this with a pinch of salt. I live on the south coast so this is why the value is so high.

Any advice would be great especially if you have sold a part ownership property.

ThePants999

Usually, selling a leasehold property involves some fees to the freeholder/management company for them to prepare a "management pack" which, among some other rubbish, confirms that you're up to date with ground rent/service charges.

Solicitor fee looks high for just selling, though.

eddddy

Bionik wrote: »

Estate agency fee - £900 with purple bricks or 1-2% with local estate agent - £1500

Usually with shared ownership, you have to give the Housing Association the opportunity to sell the property first for a few weeks - before you can instruct an estate agent.

If they sell it, they'll probably charge a fee - but the fee might be similar to what an estate agent would charge.


Housing Associations often provide a guild to selling a shared ownership property - check their website, or ask them for a copy.