Sarah1982
15-08-2007, 15:14
Ok - so i know theres lots of similar threads but id like some answers specifically for my situation.
Selling - 85k flat
Buying - 120k house
What fees will i have to pay?! been a while since ive done this so im a bit clueless.... blundells have quoted £400 (plus £100 as its a flat) for the selling legal fees. Does that sound reasonable, or should i shop around, and if so where?
Have saved a little for fees and want to pay as much of them instead of them going on the mortgage.... so can any clued up property buyer/sellers tell me what to expect?
thanks!
I did you a quick online conveyancing quote:
Leasehold Property Value (£50,001 - £150,000) £368 (plus VAT)
Plus expenses you have to pay
Office Copy Entries £6.00
Telegraphic Transfer Fee £35.25
Legal Packaging Fee £50.00 (plus VAT)
Buying Costs: (Assuming a HIP is not available)
Freehold Property Value (£50,001 - £150,000) £244 (plus VAT)
Plus expenses you have to pay
Priority Search £4.00
Bankruptcy Search £2.00 per name
Telegraphic Transfer Fee £35.25
Legal Packaging Fee £50.00 (plus VAT)
Personal Local Authority Search £50.00
Land Registry Fee £150.00
Stamp Duty £0.00
VAT £124.60
Total £1,119.10 (plus £2.00 for each extra bankruptcy search)
Don't know how that compares but always ask what the 'extras' will be when going for quotes.
Try the free online quote system at www.tickeverybox.com/conveyancing
Sarah1982
15-08-2007, 18:00
Thanks for that!
So basically - they'll be legal fees for buying and selling, a valuation and the estate agent fees for selling. Oh and any mortgage arrangement fees.... im not missing anything am i?? Its under 125k so no stamp duty!
Sounds about right. Make sure you are quoted for all the extra's. You don't want a nasty surprise at the end. Good luck.
Wizzzard
29-08-2007, 10:41
We looked the costs for selling through an agency and decided to skip it so self selling hopefully. Our solicitor reckons agencies are a waste of money too.
Anyway, we asked the solicitor for the cost of selling our current property at 95k and buying the next at 150k and we got a total bill (including stamp duty) for £2,800.
If we went through an agency there would also be a further £1,500 in fees.
rosaespanola
29-08-2007, 12:17
I've just bought a £130k house so I imagine the costs will be fairly similar apart from stamp duty (bah). I didn't have a house to sell so I don't know about any fees for selling, but I paid about £800 for conveyancing - this included all searches and everything. I used Bradford & Son solicitors in Rotherham and they were absolute stars - it turned into a really complicated purchase and went on for ages with lots of wrangling over the price and various other problems, and they really went above & beyond to sort everything out. Once a price was agreed they even managed to rush through the completion 4 days later so we completed on the day I had to be out of my previous house!
As far as surveys and things go, I got a mortgage which offered free survey and no fees. They're not always the cheapest option as mortgages like this often have higher interest rates to make up for the initial freebies, but this one worked out at the same price over 5 years as ones with lower interest rates but application fees and no free survey.
Before we completed, I had a damp-proofer (Dower Tekron) in to do a quote for any damp-proofing that needed doing and I didn't have to pay anything for that. I also had plumbers in to check the boiler and gas appliances, they charged me £65 for doing the checks but knocked that amount off the bill when I got them in to do the work after I moved in so it ended up not costing anything either. I'd definitely recommend getting as many things checked before you buy as you can, so you can reduce your price to cover any work that needs doing. You still need to keep as much money aside as you can for any unexpected costs - there always seems to be a few extra little jobs that don't cost much on their own but add up!
Good luck with it all. Let me know if you want any contact details for the companies I used - I'd recommend them all highly.