Estate agent fees
Choosing the right estate agent can make the difference between receiving an offer that reflects the rising value of your warehouse conversion, flat or period terraced/detached house in Shoreditch property and not selling it at all.
Shoreditch estate agent Peach Properties has been based in the area for over 15 years and in that time we have developed an in-depth knowledge of the property market in London’s East End.
Our fees reflect the type of property in Shoreditch you own but are typically no higher than 1.5% plus VAT of the sale price we achieve. That charge covers all the marketing of your East End property, including the production of high-quality colour brochures and floorplans, the services of a professional photographer, listing your home on national property websites, accompanied viewings and handling all offers for your property.
Energy Performance Certificate
It became a legal requirement for vendors to provide an Energy Performance Certificate free of charge to prospective buyers on 9 January 2013. A copy of the EPC must also be handed over to the eventual buyer.
Peach Properties can arrange for a qualified assessor to produce an EPC for your Shoreditch property. The costs can vary, but usually range between £100 and £150 (excluding VAT).
Any owner selling a property in Shoreditch will need to hire a solicitor or licensed conveyancer to oversee the legal aspects of a property sale. They either charge vendors a flat fee or a percentage of the value of the property.
As a rough guide, you can expect to pay between £1000 and £3000, depending on how complex the transaction is.
Peach Properties can offer recommendations if required.
An indemnity policy is taken out to cover any defects in the title of the Shoreditch property being sold, such as a restrictive covenant or a missing document of title. Your solicitor may suggest you take out an indemnity policy, which will cover the purchaser’s costs if the defect becomes a problem.
The cost is worked out by insurers based on the value of the property and the nature of the risk involved. Typical premiums range from £250 to £500.
Capital Gains Tax
Although vendors do not pay Stamp Duty Land Tax when they sell a Shoreditch property, the government has ruled that Capital Gains Tax is payable if the property is not your primary residence and you make a profit from its sale. In other words, if your Shoreditch property is a second home, a buy-to-let investment or forms part of an inheritance.
Peach Properties strongly recommends that you seek independent financial advice about the tax implications of selling a property in Shoreditch.
Presenting your property in its best light to potential buyers can help clinch a successful sale.
We advise carrying out any minor repairs the property requires, ensuring it is in good decorative order and trying to clear unwanted furniture and other possessions to make rooms appear larger.
It is also wise to factor the fees charged by removal companies into the cost of selling your Shoreditch property and any costs charged by mortgage companies.
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