How much money in our pocket after selling house?

sabinalee

Hi All,

I knew how to buy a house 5 years ago, but how to sell it I'm blind.

Can you simply and roughly give me an idea?

Residential 3bed house purchased for 165K in 2017. Today price would around be 195-205K.

We have 100K left on a mortgage.

If we decided to sell it and sale agreed price 195K what would be our fees to pay? And net money in our pockets st the end?

Thank you 😊

o1s1n

https://www.boards.ie/discussion/2058246363/how-much-money-in-our-pocket-after-selling-house

Depends entirely on what the estate agent who you're selling with charges.

They'll charge for advertising the house, putting up signs and that sort of thing, so there'll be a few hundred for that.

They'll then take a % of the overall sale price, so good to check with a couple of different EAs and see what they charge.

Allinall

Has it been your main residence since you bought it?

If not, there will be Capital Gains Tax to be paid.

Wildly Boaring

200k sale price

100k mortgage remaining

100k

Guess EA fees = 4k and say 500 advertising

95.5k left

Guess Solicitor fees for sale = 2k

93.5k left

Assuming this is your principle private residence, no capital gains etc due

Bass Reeves

Check with EA and solicitors when asking feed if it inc Vat. Vat is another 22%.

Wildly Boring is probably not too farm off the mark. 93.5 is probably a. Bit opotmimistic assuming that there is 100k gross left after mortgage is paid off.

Solicitor will probably want 1%+costs +vat. That would be 2.5k to solicitor plus deeds and other info for sellers solicitors and the dreaded sundries.

Probably 92-93k if it makes 200k

sabinalee

Not bad at all.

This is our first and residential property we live in from 2017.

We got it for 165K. We added extra toilet and utility downstairs. We changed all radiators, renovated rooms upstairs, seating room, living room and kitchen upstairs. 112 sq.m in total. There is also very large garden, builded shed and wooden shed, wooden gazebo..

This is terraced house from 1950, so BER rating would be lower and we might not get more than 200K. Will see.

is it worth it to organise valuation for market price and for BER rating in advance or wait for EA to do the job?

Thank you all!

Wildly Boaring

Should have a BER from 2017.

Put your MPRN in here

https://ndber.seai.ie/pass/ber/search.aspx

But probably worth getting a new one done if you've made upgrades since purchasing. They're pretty cheap. EA won't be doing it.

Valuation - free. Just tell a couple estate agents you are thinking of selling. Quiz them on their fees

MakersMark

Any pre payment penalty clause on your mortgage?

Probably not after 5 years, but worth asking.

sabinalee

https://www.boards.ie/discussion/comment/119081920#Comment_119081920

Will ask BOI. Thanks