It's good to have a rough idea of how much the whole selling process will cost you. This helps with your finances and prevents you from any unpleasant surprises when the bills start coming in. Please keep in mind that this is only for guidance - how much you end up spending will depend on your individual circumstances.
Fees if you require a Mortgage:
A fee charged by lenders to cover the setting up cost of the mortgage. Some lenders may waive this fee.
Mortgage Valuation (Lender's Basic Valuation)
Lenders will require a valuation of the property to make sure it is worth the money being offered. Although commissioned by the mortgage lender you must cover the cost. Some lenders may waive this fee, as an incentive.
Lenders Legal Fees
You will have to pay for the legal work done by your lender's solicitor. You may be able to use the same solicitor you have appointed for your conveyancing, this may save you money, but check with your lender first. There may be other related fees so check with your lender first.
Energy Performance Certificates (Selling only)
When selling your home it is essential you have an Energy Performance Certificate (EPC). This must be commissioned before your property can be advertised for sale. You and anyone acting on your behalf, for example, an estate agent, must try to ensure that a certificate is available within 7 days of the property first being put on the market. A certificate is valid for ten years and can be used multiple times during this period.
Survey (Buying only)
It is always advised that you have your own independent survey carried out on the property you intend to purchase, to make sure it is structurally sound. There are three types of survey:
- Home Buyers Survey (Basic)
- Home Condition Report
- Structural Survey
You will need to hire a solicitor to deal with the legal aspects of buying/selling a property. There is no standard fee so it is a good idea to shop around for the best rate. Choose one you get on with, and ask if they work on a "No Sale-No Fee" basis.
Stamp Duty (Buying Only)
Please click here for Current Stamp Duty Rates
Council Tax Banding
Please click here for more information
Chichester District Council Charges
Please click here for more information
Land Registry Fee
The Land Registry is a government department which looks after the registration of all registered properties in England and Wales. It charges a fee for transferring the register to the new owner. This fee is charged according to property price.
Local Authority Search Fees (Buying Only)
Local searches will be carried out by your solicitor/conveyancer to ensure that there are no potential problems such as planning permission on neighbouring properties or plans for new roads nearby.
Other Search Fees and Disbursements (Buying Only)
These include index map, commons, the coal authority, land charge, company searches and bank transfer fees.
Estate Agent's Commission (Selling Only)
If you're selling your property, the sum charged by your estate agent has to be taken into account. This is usually charged as a percentage of the price achieved for the property.
Try to get quotes from at least 3 different removal companies, as prices vary, some offer a full packing service so get like for like quotes. You can do the removal yourself, but this is much more time-consuming.
If you are DIY-ing it, costs will include van hire (+VAT and insurance), petrol, Boxes, bubble wrap, labels, packing tape.
A few more to bear in mind:
- Buildings insurance premiums
- Contents insurance premiums
- Additional removal insurance
- Disconnection of services (water, gas, electricity, telephone)
- Reconnection of services
- Installation of new equipment
- Carpet laying
- Decorating/Preparing your home for Sale
- Kennelling of pets
Leave a decent-sized contingency fund for emergencies. You do not want to be left completely penniless in case you have unexpected extra costs.