Cost Of Selling/buying House

[trixilator]

I'm looking for advice on just how much it'll cost me to sell my property.
I'm selling for £240k and know estate fees will be 1.2%, stamp duty will be 1% but what other expense will I be hit for - solicitors and the like,
Then I'm buying at £270 using same estate agent - whats that going to cost me ? Am totally confused going into the transaction faced with all these additional expenses - so would appreciate guidance as to what I should budget for. Many thanks.

[boxtops]

The current TV ad for cheap agents says that the average estate agent fee is £5K - I don't know how accurate that is.

[Peter Pedant]

between three and five hundred.
shop around

I used licensed conveyancers ( people who just transfer property ) and found the service good - and others here have found them pretty awful.

Asking a lawyer: " are you good ?" is a bit like saying to a surgeon: ' I am gonna pay, can you do this operation ?'

Remeber you are gonna pay £2880 stamp duty ( I think - that is !.2% of 240 k ) and selling and buying fees are gonna be peanuts by comparison

[Ratty2E]

If you call a couple of conveyancing solicitors they should be able to advise you on their costs.

[Peter Pedant]

estate agent fee ?
I thought you were asking about lawyers fees.

read my answer carefully the advice still holds - but may not be on topic

[buildersmate]

The stamp duty land tax over the threshold of £250k is 3%, not 2%. This is why there is no market for houses between £251k and £260k. You either clear the threshold by a decent measure or attempt to dip under it.
Recent quote from conveyancer for a purchase only transaction is £275k plus VAT plus fixed costs of about £300. Selling costs less.

Negotiate on estate agent fees.

[bednobs]

ps don't for get that estate agent fees will be whatever percentage PLUS Vat

[buildersmate]

Misrule. Cost of a conveyancer to purchase a £275k property is £275, plus VAT, plus the fixed searches and LR registration fee. £1 per £1000 of purchase price seems a reasonable benchmark at this price point.