Business Daily Media

Men's Weekly

.

Legal Fees for Selling a House

  • Written by NewsServices.com

When you’re looking to sell a house, there are a number of different things you need to take into account before you can do that. One of the main things to consider is the Legal Fees for Selling a House

What is involved in Legal Fees for Selling a House

It is important that you get a good quote for your conveyancing, if you don’t want it to make a big dent in your savings.

Conveyancing is a competitive business. Many quotes are usually designed to make you believe that they are cheaper than they really are.

You must always read the small print and make sure there are no hidden costs when you’re looking at conveyancing fees for selling your home. Sometimes some websites or conveyancers will charge for things that should be covered and included in the basic sale fee. They will often list these as extras or just categorise them under disbursements.

There is the option of the Fixed Fee Conveyancing where there will be no hidden charges, so you won’t have to deal with any nasty surprises down the line.

How much does it cost?

The Legal Fees for Selling a House usually vary depending on the value of the property that you are looking to sell and any complications that may be involved in the sale of your property. Taking into account current market and pricing data, typically the solicitor's base Legal Fees for selling a House will be between £550 - £1,000.

When looking at the Legal Fees for Selling a House you should always get a solicitor to agree on their charges in writing before you start anything.

Calculate the Legal Fees for Selling a House

When selling a house, you have to make sure you have calculated how much it is going to cost you to sell your home. Included in those costs, will be the legal fees for selling a house, estate agents fees and removal fees. These costs can often begin to add up, so it's important to understand all of the fees and exactly what you are paying for

Buying a Newbuild Process

There are many benefits in buying a newbuild home – including energy efficiency, low maintenance, and the bonus of a fast, straight forward buying process, with no chain but buying a New Build Process involves a number of important things that need to be considered.

Reserve your property

Once you’ve found a home, you can secure the property by paying the developer a reservation fee.

This fee can range from £500 to £2,000 and will reserve the home for a 28-day period. During this time, the developer will expect to exchange contracts. Once the purchase completes, the developer will deduct the reservation fee from the final price.

When going through the buying a New Build Process the next stages to consider are as follows: -

Secure your mortgage

It’s not recommended that you exchange without your finance in place so it’s important that you ensure your mortgage offer is valid.

Your mortgage lender will arrange for a surveyor to carry out a valuation survey. If you’re buying off-plan, the valuation will be based on the plans and specification the developer has provided.

Pay the deposit

The deposit will be 10% of the total property price. You will pay the funds to your conveyancing solicitor, who will transfer them to the developer’s solicitor on your behalf.

If the developer is registered with a warranty provider such as NHBC Buildmark or Premier Guarantee, your deposit will be protected up to a maximum of 10% of the purchase price. Not only does this cover you if the developer goes bust, but it allows you to withdraw from the purchase and claim a full refund without penalty if there are unreasonable delays in the construction process (i.e. if you still haven’t moved in six months after the long-stop date).

Exchange contracts

In buying a Newbuild process - the conveyancing solicitor will:

the terms of the contract and draft transfer/lease

the title to the property

the planning documents

any other relevant documentation

clarify information with the developer’s solicitor, if necessary

ask you to sign the paperwork

The snagging list

The next stage in the buying a newbuild process is making a snagging list means walking round your new home and identifying issues that you feel haven’t been completed to a satisfactory standard, such as defects with decoration or fixtures and fittings. The ideal time to make your snagging list is between exchange and completion. This means the developer can fix any problems during that time.

Warranty repairs

In the buying a new build process the developer has a duty to repair all defects within the first two years of you buying the home. After that, your warranty covers you for another eight years for damage to certain parts of the property. If you sell within the first 10 years, the entitlement to claim against the guarantee will pass to the next owner.

What you are buying

Throughout the buying a Newbuild process you need to ensure that the finished home had been made to the standard you expect.

Property

The Importance of Accurate Commercial Property Valuation for Business Financing

Commercial property valuation plays a pivotal role in the financial strategies of businesses seeking funding. But what exactly does it entail? Simply put, commercial property valuation i...

Business Daily Media - avatar Business Daily Media

Things To Consider When Purchasing A Rental Property

Buying real estate to use as a rental property is a wonderful investment opportunity since it is almost always going to increase in value over time. It can also be a bit daunting for the fir...

Business Daily Media - avatar Business Daily Media

Restoring Australia’s Past: Timeless Materials & Techniques in Heritage Conservation

Heritage restoration balances the need for maintaining historical authenticity and structural integrity for generations to come. Heritage work differs from modern construction, as it calls f...

Business Daily Media - avatar Business Daily Media

Boutique Homes announce appliance change to Fisher & Paykel

ABN Group’s residential home building brand, Boutique Homes, today announced the transition from ILVE to Fisher & Paykel for standard inclusion. Customers yet to complete interior sel...

Business Daily Media - avatar Business Daily Media

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

The cost of ignoring AI governance in business

Artificial intelligence (AI) is no longer the promise of a distant future: it's active, embedded, and already shaping decisions across industries. H...

Quickli launches new SMSF product as free beta for limited time only

The leading technology provider for Australian mortgage brokers, Quickli, has answered the prayers of brokers yet again with the launch of a stand...

Portable Monitors for Coding and Programming Students

Today, coding and programming require more focus and efficiency. But, the most essential thing it demands is ample screen space. Students can stru...

Sell by LayBy