PROPERTY

SELLING YOUR PROPERTY (COSTS INVOLVED)



Costs invloved when selling your property
You will need to budget for a variety of costs before selling your house. For example, an energy performance certificate, estate agent's fees, legal fees, removal costs, bridging rental, and valuations.
We’ve answered a few queries you may have to lend a helping hand before you sell. 

For more information on costs when buying your property, please contact our property team for details.


Q: What is an energy performance certificate?

A: When selling your home, you are required to have an energy performance certificate (EPC). This indicates how energy efficient your home is and gives a rough idea of potential utility bill costs. Most estate agents ask for this when you approach them to sell your home, so it’s always best to be organised and have this done first. 

 

Q: What is an estate agent fee?

A: When an estate agent sells your property after the contracts are signed and exchanged, the estate agent is entitled to a percentage of the sale price plus VAT. You will have agreed on the percentage with your estate agent beforehand.

 

Q: I’m selling my property - what do the legal fees include? 

A: You will need to instruct a firm of solicitors to provide the conveyancing work between you and your buyer’s solicitor to complete the sale of your property. The legal fees will cover things such as reviewing documents, answering the buyer’s solicitor’s queries, and collating all the legal documents. If you require a quote please don't hesitate to get in touch, click here to visit our contact us page.

 

Q: How much are the removal costs?

A: It’s essential to factor in the costs of removing your possessions and transporting them to your new home, as well as the insurance to cover damage or loss of items in transportation. The exact cost of removal depends on how far you will be moving and the number of possessions you must transport.

 

Q: I have sold my house but haven't found one to buy. What should I do?

A: In some cases, sellers find that they have a buyer for their property but have not found a property that they want to purchase.  An important decision, such as buying a house, cannot be rushed, so you may need to consider rental accommodation until you find a suitable property, which you will need to take account of in your budget.

VALUATION - HOW MUCH IS MY PROPERTY WORTH?

Q: Why do I need to get my house valued before I sell?

A: The valuation will give you an idea of what it is worth, and how much you can sell it for. This also allows you to budget for how much you can afford to spend on buying your next property.

 

Q: How do I get my home valued?

A: You will need to instruct an estate agent to value your property. Certain estate agents offer free valuations, so it’s best to shop around before instructing someone.

 

Q: What’s the best way to find out the price I should sell my house for?

A: You will need to know how much your property is worth so you know what offer is acceptable for your home. There are several ways to gauge the average price for your home:

  1. Check your local estate agents
    Your local estate agent will have a clear idea of how much your property will be worth and how much you should potentially sell for. It’s always worth approaching more than one estate agent for different opinions and an average price aim.
  2. Valuation
    A valuation will help you determine how much your property is worth and what price you should be asking for. Valuations however are not as subjective as the buyers’ market. You may find potential estate agents react differently to your property, responding with either higher or lower offers than you were expecting. Therefore, we recommend a valuation in conjunction with your own research. 
  3. Do your own research
    Look at the value of the properties similar to yours in the area. Look online and in estate agents’ offices to see properties like yours and how they have been priced. This way you’ll have a good idea of what asking price you should be aiming for.
  4. Go online
    There are plenty of useful resources that can help you evaluate your properties' worth, for example, the land registry housing prices website and other property websites such as Right Move and Zoopla.

MOVING HOUSE: PACKAGING AND ORGANISATION

Q: What do I need to do before I move house?

A: Here are 12 tips on what you need to do before you move house:

  1. Book time off work for your moving date.
  2. Once you’ve confirmed your moving date, you will need to contact your utility providers, your local council for council tax purposes and the Royal Mail to inform them of your new address, as well as your bank, employer, credit card company, and doctors, etc.
  3. Book a removal van and arrange any help you need for the moving day with family and friends.
  4. Begin to start packing up your house, cleaning as you go, so it’s ready for the new owners.
  5. Make arrangements for your children and pets so that you can get on with the business of moving without having to worry about them.
  6. You should leave notes for the new owners about where all the important things are kept, such as the gas and electricity meters, fuse box, etc.
  7. Label all your keys and give the new owners the details of your final meter readings, after you have settled all your utility bills.
  8. Speak to your neighbours to let them know what’s happening so they will not be inconvenienced by a large removal van and other potential disruptions.
  9. On the moving in day, leave your home in good condition for the new owners, by having one final clean up.
  10. Ensure all the services and utilities you need are connected at your new address.
  11. Make sure you have insurance cover which takes effect immediately when moving into your new home.
  12. Have a stress free and organised move by making sure all the essentials you and your family will need are to hand, such as cleaning materials, cutlery, crockery, and bin bags.

If you have any further questions about selling your home, and the fees involved, please contact our property team for details.





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