{"id":3034,"date":"2016-08-16T11:11:19","date_gmt":"2016-08-16T18:11:19","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3034"},"modified":"2016-08-12T08:29:01","modified_gmt":"2016-08-12T15:29:01","slug":"selling-your-house-breaking-down-your-key-costs-financial-considerations","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/08\/selling-your-house-breaking-down-your-key-costs-financial-considerations\/","title":{"rendered":"Selling Your House : Breaking Down Your Key Costs &#038; Financial Considerations"},"content":{"rendered":"<p style=\"text-align: justify;\">Selling your home can be a daunting prospect, but it\u2019s even more alarming if you haven\u2019t factored in the costs associated with the sale. Making a decision to sell without checking your costs first could end up costing you thousands of pounds if you\u2019re not careful.<br \/>\nBefore you finalise your decision to sell your home, take some time to ponder the reasons behind why you want to sell. Moving house costs more than most people expect. When you add the costs of selling your house to your moving costs, it\u2019s easy to spend far more than you intended.<br \/>\nHere is a quick guide to some considerations and costs to take into account if you\u2019re thinking about selling your home :<\/p>\n<p style=\"text-align: justify;\"><strong>Should You Sell or Stay?<\/strong><br \/>\nIf you\u2019re thinking about selling because you want more space for an expanding family, any changes in house prices could mean you might not be able to afford something any bigger than the home you\u2019re already in. You could save some money by building an extension, renovating existing spaces, converting the attic space into another room, or digging out a basement.<br \/>\nLikewise, if your motivation to sell is to reduce the size of your current mortgage, consider how the cost of selling your current home and then buying another property could eat into whatever equity you may have built up. The result could mean a slightly larger mortgage than you currently have.<\/p>\n<p style=\"text-align: justify;\"><strong>Financial Considerations<\/strong><br \/>\nBefore you commit to selling your property, take the time to ponder some important financial considerations first. By the time you pay for estate agent\u2019s fees, conveyancing fees, removal costs, and EPCs (energy performance certificates), it\u2019s likely you\u2019ll eat into a large chunk of the proceeds of the sale. If you decide to auction the property instead of opting for a private sale, you could also have additional auction fees to take into account.<br \/>\nThere may also be costs associated with preparing your home for sale, especially if you intend to do some quick renovations before listing it. You may decide to have your home professionally staged for sale, increasing the odds of selling quickly, but increasing your total selling costs too. If you still have a mortgage remaining on the property, you\u2019ll need to repay that too.<\/p>\n<p style=\"text-align: justify;\"><strong>Choosing the Right Agent<\/strong><br \/>\nOnce you\u2019ve gone through all the financial considerations and understand the potential costs of selling, it\u2019s time to choose the right estate agent to sell your property.\u00a0 Discuss the fees your agent will charge and ask plenty of questions about any potential things you could do to maximise your sale price.<br \/>\nChoose a professional estate agent with a long history of selling homes in your local area, such as Taylors Estate Agents. You can check the services offered by Taylors detailed here.<\/p>\n<p style=\"text-align: justify;\"><strong>Decide on a Selling Price<\/strong><br \/>\nTake some time to research what similar properties are selling for in your local area. Check local real estate listings in newspapers and online sites to see what\u2019s available and what\u2019s selling.<br \/>\nDiscuss your selling price with an estate agent who is familiar with your local area and ask for a valuation. If you\u2019ve done your research, your agent should arrive at a similar selling price to the one you\u2019ve determined anyway.<br \/>\nKeep in mind that buyers expect to negotiate some kind of discount into their offer, so add another 5% to the selling price you\u2019re prepared to accept.<\/p>\n<p style=\"text-align: justify;\"><strong>Prepare Your Home for Sale<\/strong><br \/>\nIf your agent has suggested some simple things you can do to maximise your sale price, get those items completed. Deep clean the carpets and touch up any peeling paint. Get rid of any clutter and start packing some of your items to help make rooms appear larger.<br \/>\nIn some cases, paying a professional home staging company to give your property a makeover can help increase the chances of selling your home more quickly. According to one property styling professional, it can cost up to 2% of the selling price to prepare your home.<\/p>\n<p style=\"text-align: justify;\"><strong>Hire a Solicitor<\/strong><br \/>\nChoose a solicitor or conveyancer to handle the legal work to transfer ownership of the property once it\u2019s sold. Your solicitor will handle the financial transaction of the sale, along with ensuring the sale is registered with the Land Registry.<\/p>\n<p style=\"text-align: justify;\"><strong>Sell the Property<\/strong><br \/>\nAfter prospective buyers have visited the property and you\u2019ve received offers, it\u2019s time to accept one of them and finalise the sale. Your estate agent will work with you as you exchange contracts with the buyer, while your conveyancer will begin working on finalising the transaction.<\/p>\n<p style=\"text-align: justify;\"><strong>Move Out<\/strong><br \/>\nYou\u2019re able to move out at any time up until the day of sale completion. Be sure all of you belongings are removed from the property and everything is thoroughly cleaned.<\/p>\n<p style=\"text-align: justify;\"><strong>Complete the Sale<\/strong><br \/>\nCompletion date is the day when the property changes ownership from you to the buyer. You accept their payment and they get the keys to the property in return.<\/p>\n<p style=\"text-align: justify;\">While selling a home may seem like a daunting process, it becomes much easier to manage when you have each step broken down into smaller sections. Work through each section to ensure you don\u2019t overlook anything and you should find that it helps to reduce any of the stress associated with the whole process.<\/p>\n<p><a href=\"http:\/\/realtybiznews.com\/selling-your-house-breaking-down-your-key-costs-and-financial-considerations\/98734674\/\" target=\"_blank\">Selling Your House : Breaking Down Your Key Costs &amp; Financial Considerations<\/a> by Naomi Barry | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Selling your home can be a daunting prospect, but it\u2019s even more alarming if you haven\u2019t factored in the costs associated with the sale. Making a decision to sell without &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/08\/selling-your-house-breaking-down-your-key-costs-financial-considerations\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-3034","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Selling Your House : Breaking Down Your Key Costs &amp; Financial Considerations &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/08\/selling-your-house-breaking-down-your-key-costs-financial-considerations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Selling Your House : Breaking Down Your Key Costs &amp; Financial Considerations &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Selling your home can be a daunting prospect, but it\u2019s even more alarming if you haven\u2019t factored in the costs associated with the sale. 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