FEES Estate Agents etc

keithtoon

Hi all,
My first move in 25 years so a bit rusty I just need selling tips. We have sorted a conveyancing solicitor but Estate Agents wow the cost!
The house I am selling is £550,000 so yes stamp duty of £5000 plus solicitor fess approx. £2000 , I will be mortgage free as down sizing.
At present I am with Santander and been told to sell as I had a INTEREST ONLY mortgage and retired at 66. They keep asking for the out standing balance of £130,000 I have never missed a payment and they now insist on me ringing them for a monthly update on selling my home.
Any advice on Estate Agency Fees?
TIA Kg

user1977

keithtoon said:

The house I am selling is £550,000 so yes stamp duty of £5000 

Why would you be incurring stamp duty on a property you're selling?

Given you've said "wow the cost" about estate agency fees, presumably you've had some quotes - what were they? Whereabouts in the country are you, as that will affect things?

housebuyer143

I sold my house online for £100. Yes, you have to do all the work yourself, photos, floorplan, viewings, sales progression.. If you don't mind it then it's money well saved. 

keithtoon

user1977 said:

keithtoon said:

The house I am selling is £550,000 so yes stamp duty of £5000 

Why would you be incurring stamp duty on a property you're selling?

Given you've said "wow the cost" about estate agency fees, presumably you've had some quotes - what were they? Whereabouts in the country are you, as that will affect things?

Hi,
Thank you for your quick response.
Will be buying a house for £300,000 so Stamp Duty £6000
Location: Hertford
cheers 
Kg

keithtoon

housebuyer143 said:

I sold my house online for £100. Yes, you have to do all the work yourself, photos, floorplan, viewings, sales progression.. If you don't mind it then it's money well saved. 

Hi, Thank you.
Yeah we are looking at that YOPA ,Purplebricks etc...No way am I paying 1.4%, talking £1000s
I still have my old floorplans from the brochure from 1998ish!
Yes photos we can do. Viewings not a problem as we are retired

housebuyer143

keithtoon said:

housebuyer143 said:

I sold my house online for £100. Yes, you have to do all the work yourself, photos, floorplan, viewings, sales progression.. If you don't mind it then it's money well saved. 

Hi, Thank you.
Yeah we are looking at that YOPA ,Purplebricks etc...No way am I paying 1.4%, talking £1000s
I still have my old floorplans from the brochure from 1998ish!
Yes photos we can do. Viewings not a problem as we are retired

Look at 99home that is who we used and it was great. Purplebricks bricks still charge you thousands and although the website is better the service you get is basically the same. 

Flugelhorn

I paid 0.9% +Vat  and 1% inc VAT) in 2 recent sales and it was well worth it - you need someone who really gets things going if you are going to be in a chain otherwise you will struggle to get moving 

Flugelhorn

keithtoon said:

At present I am with Santander and been told to sell as I had a INTEREST ONLY mortgage and retired at 66. They keep asking for the out standing balance of £130,000 I have never missed a payment and they now insist on me ringing them for a monthly update on selling my home.
Any advice on Estate Agency Fees?
TIA Kg

If it is IO then they will have assumed that you have some plan in place for paying it back when the term ran out - did you have one eg savings etc ??  

keithtoon

Flugelhorn said:

keithtoon said:

At present I am with Santander and been told to sell as I had a INTEREST ONLY mortgage and retired at 66. They keep asking for the out standing balance of £130,000 I have never missed a payment and they now insist on me ringing them for a monthly update on selling my home.
Any advice on Estate Agency Fees?
TIA Kg

If it is IO then they will have assumed that you have some plan in place for paying it back when the term ran out - did you have one eg savings etc ??  

Hi,
Yes I am down sizing at £300,000. In November I received a letter from Santander stating if I am happy paying the default rate (as I was on low fixed 2 year rate) they would be ok with it. But since then I receive phone calls and warning letters I have to repay the outstanding balance.
regards Kg

Flugelhorn

keithtoon said:

Flugelhorn said:

keithtoon said:

At present I am with Santander and been told to sell as I had a INTEREST ONLY mortgage and retired at 66. They keep asking for the out standing balance of £130,000 I have never missed a payment and they now insist on me ringing them for a monthly update on selling my home.
Any advice on Estate Agency Fees?
TIA Kg

If it is IO then they will have assumed that you have some plan in place for paying it back when the term ran out - did you have one eg savings etc ??  

Hi,
Yes I am down sizing at £300,000. In November I received a letter from Santander stating if I am happy paying the default rate (as I was on low fixed 2 year rate) they would be ok with it. But since then I receive phone calls and warning letters I have to repay the outstanding balance.
regards Kg

fair enough - perhaps they were concerned about affordability if the rate when up ++++ We downsized in similar sort of way (550 to 300 ish), bought before I sold so wasn't juggling a chain (can be tricky these days) - glad we downsized, much easier property to heat and maintain

jonnydeppiwish!

Our local EA is 0.9% including VAT so shop around. The local knowledgeable EAs are worth their fee imo