big eck
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Registered: 20th Apr 03
Location: Tullibody. Drives - Audi B8 S4 & Fiesta Zetec-S
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OK the wife an I have decided its time to move out of our 4-in-a-block to a detatched house. We bought the flat purely because of the price I got it for being an ex council house and me being a council tenant at the time (62% discount ain't to be passed by) and the fact its in a very desirable area.
As were gonna be starting a family very soon we've decided its time to cash in on the equity and move to a bigger place.
What I asking is whats involved exactly in selling a house from the solicitors fees to the valuation to acutally accepting an offer.
The more info the better.
Cheers Alex
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John
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Registered: 30th Jun 03
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Solicitor fees will be around a grand and the estate agent will be around 1.5% of selling price.
Possible mortgage fees on top of that but that will depend completely on what the mortgage terms are.
[Edited on 12-01-2012 by John]
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Colin
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Registered: 4th Apr 02
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You'll probably be looking around 2-2.5k all in!!
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Colin
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Registered: 4th Apr 02
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If your looking at new builds try & get a px deal or something!?
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Ben G
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Registered: 12th Jan 07
Location: Essex
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our estate agent told us all that.
free to put your house up for sale but if sold, you pay a % of the final sale price to them.
our survey cost 550 quid
solicitor fee's were about 1200 quid (stamp duty exempt).
also put money aside for fixing things in the new house. when we moved in, they took everything off the walls even though they saod it was staying in the contract, solicitor didnt help is so went and bought new bits.
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big eck
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Registered: 20th Apr 03
Location: Tullibody. Drives - Audi B8 S4 & Fiesta Zetec-S
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It'll no be new builds colin, don't really like the quality of them tbh.
How does valuating the house work, is it only after the home report thats done determines the final valuation???
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John
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Registered: 30th Jun 03
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Home report is mainly made up.
An estate agent will come out and give you a rough guide, in my experience they are useless though.
See what similar houses have sold for locally, have a look what they're advertised for but this could be wildly out.
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Colin
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Registered: 4th Apr 02
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Houses of all ages have their problems / quality defects!!
Valuation will be carried out by the estate agency, they can arrange a home report as well via a non-affiliated company.
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Colin
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Registered: 4th Apr 02
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My home report was wrong and almost held up the sale so check it page to page for accuracy.
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John
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Registered: 30th Jun 03
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My home report consisted mainly of, 'couldn't get access so may be a problem which is not currently visible". That was literally it.
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big eck
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Registered: 20th Apr 03
Location: Tullibody. Drives - Audi B8 S4 & Fiesta Zetec-S
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If the estate agents valuation is useless then what do they go by???
My area is VERY small. Only 1 street to be exact as i'm way out in the sticks (conservation area) and the last one to sell was about 5 years ago.
I also have planning permission and plans to convert the loft into another room the size of the entire house (32ft x 25ft) and i've just made part of my garden into a fully monoblock'd driveway which would take a full sized garage so hopefully these will add a bit of value.
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John
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Registered: 30th Jun 03
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You'll need to use them as a rough guide and work out yourself what you think it's worth.
When you start getting offers/no offers you'll find out how close you are anyway.
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chloe16v
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Registered: 29th Nov 07
Location: Rotherham
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if you bought the flat off the council in the last 5 years you will have to pay a % of the sale price back to them and im sure if you bought it in the last 10 years you have to offer it back to them first
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big eck
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Registered: 20th Apr 03
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Nope that's wrong. I couldn't sell the house within 3 years unless I pay them back the full discounted amount, after that it's mine to do as I please. I've owned the house for 5 years this July.
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bolton
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Registered: 2nd Dec 05
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just sold my house this week costs were
energy test 60
estate agents 1.5%
solicitors selling house 485
buying new house 850
survey on new house 225
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
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Mortgage arrangement fee's are up massively too.
http://www.lovemoney.com/news/property-and-mortgages/mortgages/14074/mortgage-fees-rise-by-70?source=1000550
[Edited on 13-01-2012 by Tom]
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John
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Registered: 30th Jun 03
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Think my mortgage arrangement fee was £1k.
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Ben G
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Registered: 12th Jan 07
Location: Essex
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mine was £495. you can add it to the mortgage though.
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whitter45
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Registered: 15th Nov 02
Location: Norton
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quote:
Originally posted by Ben G
mine was £495. you can add it to the mortgage though.
for 495 you might as well pay it upfront rather than the additional interest - over the term of the fixed mortgage I bet you would pay double the 495 on interest
stamp duty for me is the biggest rip off ever - it pains me to pay it
[Edited on 13-01-2012 by whitter45]
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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Stamp Duty.....
What are the current thresholds again?
I know its a fucking farce... why on earth do the government deserve to get money when you move house  Just like being taxed when you die!
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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Up to £125,000
Zero
Over £125,000 to £250,000
1%
Zero for 1st time buyer
Over £250,000 to £500,000
3%
Over £500,000 to £1 million
4%
Over £1 million
5%
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Jimbothebarbarian
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Registered: 19th Apr 07
Location: Cumbria..........drunk..
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quote:
Originally posted by Ben G
also put money aside for fixing things in the new house. when we moved in, they took everything off the walls even though they said it was staying in the contract, solicitor didn't help is so went and bought new bits.
I had similar to this.
In the agreed sale as we're in the sticks it was agreed two full calor (sp?) gas bottles (cooker) and a full 1200 litre tank of heating oil (heating and hot water) to be included.
We moved in on the friday before a bank holiday weekend to one part bottle of gas and a drained heating oil tank! Had to get and emergency oil delivery as I've two small kids at great cost. Rang the solicitors who had assured me if I had any issues they'd be there to sort it and they effectively told me to jog on!
Would cost me more to try and take the sellers and my "solicitor" to task then it was worth. TBH I've bought and sold a few times now and they're all a bunch of lying two faced tossers who will fuck you off the moment they get their cash on completion and you have very little come back.
I fucking hate moving house..
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big eck
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Registered: 20th Apr 03
Location: Tullibody. Drives - Audi B8 S4 & Fiesta Zetec-S
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I don't understand this stamp duty thing. Is the fee for selling or buying a house at a certain price. I have a limit of around £160k for a house.
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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you pay it when buying...
Its a fucking joke. We now own the government 15k for moving house!
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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at 160k you'd have to pay 1.6k
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