Frequently Asked Questions about selling property
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The costs involved in selling your property consist of:
Energy Performance Certificate
It is a legal requirement to have commissioned an EPC before marketing can start. Foxtons can organise this legally required document on your behalf at a cost of £118.80.
Estate agent commission
Commission fees become payable once your estate agent sells your property and contracts are signed. This is charged as a percentage of the sale price + VAT. View Foxtons fees.
Legal fees for the conveyancing process
These vary depending on the solicitor you choose.
Your estate agent should include all marketing expenses within their commission fee but it is worth checking this before you instruct an estate agent, as some may charge an additional fee for advertising etc.
Your Title Deeds are proof of ownership of your property. They will be held by your bank or building society if you have a mortgage and your solicitor will obtain the deeds and let the buyer's solicitor have a copy.
It is not essential to redecorate your property before placing it on the market, however, if an area is in need of a lick of paint this will appeal to potential buyers. More tips and guidance on presenting your property.
Your estate agent should accompany all viewings during their opening hours. However, in some circumstances they may ask you to conduct the occasional viewing. It is advisable to choose an estate agent who offers longer opening hours to maximise viewing potential and minimise the number of viewings you have to conduct yourself.
If your estate agent is accompanying all viewings and they have the access codes and keys for your property your presence is not required. Foxtons accompany all viewings.
It is worth noting that buyers often feel more relaxed when the owner is not present.
This depends on the conditions of the offer and what your preferences are.
No, the buyer is responsible for paying Stamp Duty.
On the completion date, which is mutually agreed by yourself and the buyer.
There are a couple of very simple measures which are recommended by both the Land Registry and Action Fraud that you can take to safeguard your property. More about Property Fraud.
If you are selling a property that is your main home, you won't have to pay tax on it as long as you satisfy certain conditions. However, if you are selling a property that is not your main home, it is likely you may have to pay Capital Gains Tax.
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