Maq Posted December 17, 2014 Share Posted December 17, 2014 Before I go and see a financial adviser - thought I'd see if the TAMB has anyone who might be able to give me an idea of costs involved in selling a house? I've got a flat that we rent out, been wanting rid of it for a while though. Was speaking to a someone I know about it, and they've made me an offer to buy it from me. Has anyone here got any idea what costs i'll have to incur in selling the property? The mortgage company told me there will be no early repayment fee - but a flat charge of £250 to them for 'discharge of mortgage fee' - and they said this would cover things like changing the deeds? I guess I'll need a solicitor to do all the paperwork involved in the sale? Anything else I should be thinking about? By selling directly to someone, I won't need an estate agent? I'll still get the place valued properly (I did this a year ago, and never got any offers near the valuation) I'm just trying to do my sums to see if it's worth taking this guys offer - so would appreciate if anyone knows what all fees I should be considering, before I go and see a professional. Cheers! Quote Link to comment Share on other sites More sharing options...
Deedee Posted December 17, 2014 Share Posted December 17, 2014 Solicitors/conveyancing fees (the paperwork) will cost about £700. I used conveyancing direct and they were fine. If someone has made an offer I'd definitely accept it and forget about using an estate agent. Quote Link to comment Share on other sites More sharing options...
sbcmfc Posted December 17, 2014 Share Posted December 17, 2014 (edited) Before I go and see a financial adviser - thought I'd see if the TAMB has anyone who might be able to give me an idea of costs involved in selling a house? I've got a flat that we rent out, been wanting rid of it for a while though. Was speaking to a someone I know about it, and they've made me an offer to buy it from me. Has anyone here got any idea what costs i'll have to incur in selling the property? The mortgage company told me there will be no early repayment fee - but a flat charge of £250 to them for 'discharge of mortgage fee' - and they said this would cover things like changing the deeds? I guess I'll need a solicitor to do all the paperwork involved in the sale? Anything else I should be thinking about? By selling directly to someone, I won't need an estate agent? I'll still get the place valued properly (I did this a year ago, and never got any offers near the valuation) I'm just trying to do my sums to see if it's worth taking this guys offer - so would appreciate if anyone knows what all fees I should be considering, before I go and see a professional. Cheers! We were looking at selling up, and you paid the estate agent a flat fee, them a %age of sale price.Cutting out the estate agent, you both need a seperate lawyer, if guess you're looking at £500-1000 each. (I'm sure we were £800 buying, can only assume the seller pays similar, but may be cheaper minus the complications?) Legally you might still need an up to date home report too, even though you're selling to a mate. Think that's a flat fee (think estate agents bundle that in), should be available online Edited December 17, 2014 by sbcmfc Quote Link to comment Share on other sites More sharing options...
Deedee Posted December 17, 2014 Share Posted December 17, 2014 If you do have to use an estate agent, use an online one like Scothousemove or someone like that. Cost me £500 up front and they don't take a percentage at the end. Countrywide, etc are robbing fekers. Get your own home report from Halls or Shepherds. If the buyer isn't getting a mortgage to pay for the house then I don't think you need one Quote Link to comment Share on other sites More sharing options...
Maq Posted December 17, 2014 Author Share Posted December 17, 2014 Ok great, thanks very much Quote Link to comment Share on other sites More sharing options...
Glasgowmancity Posted December 17, 2014 Share Posted December 17, 2014 You don't need a home report if you are not advertising the property (estate agent, home made sign in the window etc) you will only need a standard survey - that should cut your costs by a few hundred pounds. Quote Link to comment Share on other sites More sharing options...
Deedee Posted December 17, 2014 Share Posted December 17, 2014 You don't need a home report if you are not advertising the property (estate agent, home made sign in the window etc) you will only need a standard survey - that should cut your costs by a few hundred pounds. The buyer's mortgage company might insist on a home report Quote Link to comment Share on other sites More sharing options...
fishcumnock Posted December 17, 2014 Share Posted December 17, 2014 Phone Sprang Terrace conveyancing ayr . honest price and a speedy job. Quote Link to comment Share on other sites More sharing options...
Glasgowmancity Posted December 17, 2014 Share Posted December 17, 2014 The buyer's mortgage company might insist on a home report They shouldn't - only a mortgage valuation - that should be the only part of the home report the lender should be interested in. Quote Link to comment Share on other sites More sharing options...
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