Estate agents fee

[Mr Jenks]

We are thinking of selling the house and moving on.
What is the average fee charged by estate agents these days? and what can I expect to pay out on other fees, solicitors, stamp duty rates etc please. Any hints and pointers welcomed.

[Craphouserat]

Mr Jenks said:

We are thinking of selling the house and moving on.
What is the average fee charged by estate agents these days? and what can I expect to pay out on other fees, solicitors, stamp duty rates etc please. Any hints and pointers welcomed.

I guess it depends where in the country you are. We've moved a few times in recent years ( near St.Andrews ) and estate agent fees were, a couple of years ago, 1.3 percent of the sale. All in the solicitor we used for selling of old and the buying of the new property came to just under 5k. We put our old property on the market just before we had to pay for the Home owners pack - which I think, depending on the value of the property, would have come to around £700.

So - for the buying and selling of your property I'd say have around the 5-7k mark for the marketing,legal side of buying and selling, the 1-2/3ish per cent of the sale value of the home and the home pack - if you have that where you live.

The stamp duty again depends on the value of the property you are thinking about buying - in Scotland 125k or less its 0. 125,001 - 250k its 1% 250 k above 3% and so on.

All in all a lot depends on the value of the home you are selling and buying. To just market your home with an estate agent here only costs around £250 for them to put it on the market for you - after you have paid for homeowners report.

I hope some of this makes sense - things may be different down south.

ETA - remember also that you will have to pay for adverts in papers etc up front. Most the the other legal fees - exept the marketing fee/homeowners pack(if you have that) are paid out of the profit of the sale - you will be sent a full letter detailing what they have taken - what they have paid your mortagage provider to pay the remainder of your mortagage off and provide a check to you for the remainder.

Edited by Craphouserat on Wednesday 18th May 08:57

[rednotdead]

Just moved. Our estate agent had a fee of 1.75% for full asking, any other price under asking his fee dropped to 1%, all excl VAT. This included all advertising and was sole agent for 8 weeks. Property sold in 3.

Conveyancing to buy and sell was just under £1800 all in, this was based on the prices of the houses though. That was all searches, chancel liability, them acting as agents for HMRC etc.

[Mr E Driver]

Have a look at selling it yourself? There are a few websites to promote it on and some gives advice on how to do it