Cost of Selling "Buy to Let" Property

eddiem74

So what costs are associated with selling a "Buy to Let" Property?

- Estate agent e.g. 1% + VAT
- Solicitor
- ????

Is there any difference or is it more expensive than when buying the property?

johnnyskeleton

Capital gains if sold at a higher price than purchased for.

eddiem74

johnnyskeleton wrote: »

Capital gains if sold at a higher price than purchased for.

Is that 33% on the profit less 1270 allowance?

Fkall

eddiem74 wrote: »

So what costs are associated with selling a "Buy to Let" Property?

- Estate agent e.g. 1% + VAT
- Solicitor
- ????

Is there any difference or is it more expensive than when buying the property?

Estate agents fees - 1.75% plus Vat in Dublin

eddiem74

Fkall wrote: »

Estate agents fees - 1.75% plus Vat in Dublin

Thanks I am just looking on get a sense of all costs involved and how different from buying they will be.

lcwill

@eddiem74 sorry to butt in to your thread, but if anyone has experience of selling without going through an agent I would be very interested to hear.

I assume this is more common for landlords buying and selling rental properties than for individuals buying and selling their homes

Lumen

Fkall wrote: »

Estate agents fees - 1.75% plus Vat in Dublin

I paid 1% in 2016. Have they gone up?

paudgenator

What differentiates a "Buy to let" property?

wordofwarning

lcwill wrote: »

@eddiem74 sorry to butt in to your thread, but if anyone has experience of selling without going through an agent I would be very interested to hear.

I assume this is more common for landlords buying and selling rental properties than for individuals buying and selling their homes

I personally would not buy a house from a seller who won't use an agent. There is literally nothing stopping phantom bidders. A lot of people can't take emotion out of selling an item owned by them. Look at buying a used car from a dealer versus someone on donedeal. The seller on donedeal is generally a nightmare to deal with

I know of a landlord who was willing to sell a house to a family friend for £240k. The family friend said no as they didn't like the ESB substation in the back. The seller put it on the market. The house sold for £400k.

Moral of the story, sellers A) don't know the real value of their property lack the negotiation and marketing skills to achieve top dollar

If Americans are willing to pay 3/4% to an agent to sell a house there. That says a lot about whether or not they are worth it

circular flexing

paudgenator wrote: »

What differentiates a "Buy to let" property?

I would say a property that was bought with the intention of renting it out so was never the PPR of the person who bought it.