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Caversham 0118 947 0511

 

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Selling

Costs

There are of course costs that will have to be incurred when you decide to sell your property:

  • Fees – our fees are competitive and represent great value for money for the high calibre of service we provide. We will discuss them with you further at your valuation

  • Energy Performance Certificate (EPC)  - no property can be marketed without an EPC. WE can help you arrange this for under £100

  • Stamp duty – this will need to be paid by your buyer to HM treasury on completion, but of course, if you are intending to purchase, you need to bear the associated costs in mind. The way Stamp Duty is calculated changed in December 2014, and is now calculated in bands, with each band of the purchase price calculated at the following rates:

Purchase price of property

Rate of Stamp Duty (% of total purchase price)

£0 – £125,000

0%

£125,001 – £250,000

2%

£250,001 – £925,000

5%

£925,001 – £1.5 million

10%

Above £1.5 million

12%

 

 

So, for example, if you bought a property for £275,000, the SDLT you owe is calculated as follows:

0% on the first £125,000 = 0

2% on the next £125,000 = £2,500

5% on the final £25,000 = £1,250

Total SDLT = £3,750

The government will be introducing changes to Stamp Duty on second homes and investment properties from April 2016, so if you are thinking of purchasing a second property, the following rates will apply:

  

 

Standard Rate

Second Property Rate

Up to £125,000

0%

3%

The next  £125,000 (the portion £125,001 – 250,000)

2%

5%

The next £675,000 (the portion £250,001 – 925,000) 

5%

8%

The next £575,000 (the portion £925,000 - £1.5m)

10%

13%

The remaining amount (the portion above £1.5m)

12%

15%

 

 For more information on our sales service, why not read The Walmsley Guide to Selling Property