ARTICLES!
QUICK PROPERTY BUYERS?
- What Is The Best Way To Sell My Property?
- How to sell your house quickly?
- How can I tell if a cash buyer is trustworthy?
- What will a property buyer offer for my home?
- Different ways of selling your home quickly
- Houses bought for cash: does this really happen?
- How much will it cost to sell my home?
- Quick house sales and where to get them
- Sell my house fast: here are a few options
- Will anyone buy my home?
ESTATE AGENTS?
- Recommended Estate Agents
- 10 things you must know about Estate Agents
- Shall I choose the cheapest Estate Agent?
- Do I need a Rightmove Estate Agent?
- Can I trust an Estate Agent's valuation of my property?
- Are there any good online Estate Agents?
- Choosing an asking price that draws in buyers
- Do I need an EPC to sell my property?
- Does my Estate Agent need to advertise my property for sale in the local newspapers?
- Do I need to use a local Estate Agent to sell my house?
- Finding the best Estate Agent
- How do I choose the best Estate agent to sell my home?
- Shall I sell my home privately or sell using an Estate Agent?
PROPERTY VALUATION?
- Free online house valuation
- How to add value to your home
- How to value your property
- How you can use house price data to accurately value your home
CONVEYANCING?
- What is property conveyancing?
- Property conveyancing process for a house seller
- Property conveyancing process for a house buyer
- What about DIY conveyancing?
- How do I go about choosing the best conveyancer?
- Property conveyancing glossary: A guide to the commonly used terms in conveyancing
HOUSE REPOSSESSION
- Repossession process explained
- Ways to stop a repossession
- Where you can get help if you're facing repossession
- Mortgage Rescue Scheme
How Much Will It Cost To Sell My House?
How Much Will It Cost To Sell My House?
There is a very succinct answer to this question and that is to simply reply that selling your house will cost you a fortune, because in some ways it will. It actually feels as if no matter how much you budget for it is going to cost you more. This is important to remember and if your friends inform you that they sold their house privately and it didn’t cost them a penny over £400 then either they have amnesia or they are in denial. Selling a house costs a good deal of money!
Estate Agents Fees
If you are going to be using an Estate Agent, then it is likely that you will be charged in the region of 1.5 to a maximum of 3% of the value of your home. So if your home is worth £200,000 (for ease of illustration) then you will be charged £3,000 to £6,000 for letting an Estate Agent sell it. Then, as if that were not enough, you will be charged VAT on top of this and VAT is currently 20%. So you could have to pay £5000 (2.5%) x 20% which is £6,000.
Selling At Auction:
You may have a really charming property that will sell well at auction. If it does, then you will have to pay some 2.5% of the value to the auctioneer, often higher than this. Then VAT is charged on top. Further to this you will also have to pay for a solicitor to actually be at the auction to witness and facilitate the sale.
Conveyancing:
Now you may think that the Estate Agent fees are the end of the story, but in fact you will have to pay conveyancing fees to a solicitor. So you need to factor these into any budget for your move. The difficulty with solicitors’ fees is that they can vary according to where you are in the country and how much they charge individually. If you don’t know a suitable solicitor try to get one on recommendation so that you will know that they are good and will charge you a fair price. Note the two do not always go together....so beware of this!
Mortgage Charges:
If you are selling off your home and then will be settling your mortgage you may think that the bank or building society will be really grateful and perhaps send you some wine to celebrate. No, this doesn’t happen. Instead they may well land you with a whopping redemption fee. They can charge you up to 6 months of interest so check that you aren’t going to get stung...
Moving Fees:
Because you will have to move out of your home you will either have a removal firm or a van to move yourself. Neither is a cheap option and costs can vary enormously. So make sure that you use a reputable firm and one with a good insurance policy; things can get broken or simply go missing!
Unforeseen Costs:
Selling your home will also bring with it unforeseen costs. For example you may want to replace some cushions, curtains or re-decorate. Even if you think you only need a tiny budget for these items, beware, somehow you always need to do more than you think, so always budget for a little more money to be made available.