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Part exchange and down size

Hello I need to sell my parents old house and downsize. For sale at £400k the mtge is approximetly £125k i think. House I have seen is for sale at £230k. Does it mean that if it goes through I should receive about 45,000 after expenses.

Asked on Jan 27 2016, Selling in North East England | Report content

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  • 45,000 *before* expenses more likely. 400 - 125 = 275. deduct agent's fees ? 4,000 ? legal fees buying and selling ? 1,500 ? costs of moving, storage etc ? 1.000 ? cost of redecorating etc ? min 2% of 230,000 ? -> 5,000 allow that you may not get the price you ask and may have to pay more than you expect, ? min 2.5% of 400,000 ? 10,000 If you budget on the assumption of all that then you may clear 20,000 when all's done.

    Answered on Jan 28 2016, Report content

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