SELLERS COSTS
Once
you’ve been given an estimate of market value by your agent, you can get a
rough idea of how much cash you might walk away with when the sale is
completed. This can be particularly useful when you start looking for another home
to buy as well as in determining your required selling price or the minimum you
are prepare to negotiate to.
To estimate your net proceeds, from the estimated sales amount, subtract the applicable costs in the two sections outlined below: Normal seller’s costs and Negotiated Seller’s costs.
Normal Seller’s Costs:
These costs are almost always for the sellers account but please bear in mind that negotiation can take place as part of the purchase process.
As part of negotiations, the seller may agree to pay part of or in full, the following costs.
To estimate your net proceeds, from the estimated sales amount, subtract the applicable costs in the two sections outlined below: Normal seller’s costs and Negotiated Seller’s costs.
Normal Seller’s Costs:
These costs are almost always for the sellers account but please bear in mind that negotiation can take place as part of the purchase process.
- Agent's commission - between 5 and 7.5% plus VAT
- Prepayment penalty on your mortgage – See here for details
- Unpaid property Rates & Taxes – balance due for year until end June
- Electrical Compliance Certificate – Article here
- Borer Beetle Certificate (if required by bank)
- Latent Defect Repairs
As part of negotiations, the seller may agree to pay part of or in full, the following costs.
- Transfer Duties
- Survey fees
- Professional House Inspection
- Borer Beetle Certficates (If buyer requests one)
- Conveyancing Fees
- Negotiated Repairs
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