Selling your Home – The Essentials

If you currently own a property, then you are not as new to the buying process as the typical first-time buyer. However, it’s easy to get lost in the process and requirements when you are moving home, especially when you need to sell yours first.

Get your property valued

Even if you are planning on marketing the property yourself it is important to get an accurate valuation of the property from a professional. Most estate agents will differ slightly on the value and therefore we would recommend getting three valuations before proceeding. Don’t automatically opt for the estate agent with the highest valuation as they may have over valued the property in order to win your business. In addition to this, use data that is available to you such as the recent sold prices on Zoopla.co.uk. If you are planning on moving to a new build home and using one of the builder’s incentive schemes such as part exchange it is important to know the value of your property before proceeding.

Get Mortgage Advice

Just like the first time you bought a property, getting impartial mortgage advice from a mortgage broker would be recommended. This will give you an accurate picture of what you can afford when it comes to buying a new property and of course, what your monthly repayments and any potential savings will be

Compare Estate Agent Services

Compare the services, and of course fees offered by your local estate agents and of course, internet only estate agents which are often cheaper. Things to take into consideration are the cost of the services, any commission, cost of the estate agent conducting the viewings and of course whether or not your property will be listed on online portals such as RightMove, Zoopla and Prime Location.

How much does it cost to move home?

Moving house can be a momentous occasion, marking the beginning of an exciting new chapter, and yet, it can also be a stressful one if you fail to account for every cost involved.

Nobody likes to be hit by an unexpected bill, but with our handy guide on your side, you’ll be fully aware of every fee, charge and cost home movers typically have to pay.

The cost of moving home

This figure comprises the fees associated with buying, selling and moving home, and has been summarised below:

Summary of buying costs

Stamp duty click Please click here for the stamp duty calculator
Conveyancing Please click on here to give you a solicitor's quote
Valuation fee Many mortgage deals now come with a free mortgage valuation. Many of the mortgage valuations are now automated, even if you have paid a fee, thus meaning that a valued may not actually visit the new property. Therefore, we would always recommend a fuller survey unless you are purchasing a new build property.
Survey Unless you are purchasing a new build property, we would always recommend either a homebuyer or building survey

Summary of selling costs

Estate agent expect to pay up to 1.5% +vat for sole agency
Conveyancing Please click here for a conveyancing quote which will give you an accurate idea of price

Property Surveys

Property surveys help identify any issues in a prospective house purchase and are often required if you are buying with a mortgage in the UK.

There are four types of home surveys offered by the Royal Institute of Chartered Surveyors:

Mortgage Valuation £250
Homebuyer Report A more in-depth surveillance, but furniture will not be moved, and walls and floorboards not examined.
Building Survey Surveyors will look behind furniture and for hidden defects behind walls and under floorboards. Advice sheets on how to deal with identified issues included. £700+