A Comprehensive Guide to the Costs Involved in Buying and Selling your Property

From Beginning to End Every Step of the Way

Selling your home can be a complicated business and there will be many questions you will find yourselves asking:

• How much should I ask for my house?
• Which items should I include in the sale?
• Should I sell my own house first before looking for another property?
• How much will it all cost?

That last question is important. It is always a good idea to shop around and get a good quote. But just remember to check what is included in the quote.

At MacRae Stephen & Co., we pride ourselves not only on being able to provide a competitive quote, but also on providing excellent customer service consistently.

What is included in your quote?

Often, upon receiving a quote, there is little or no explanation as to how the final figure was reached. At MacRae Stephen & Co., we want you to understand and be involved in the process. So, here’s an overview of what is included in your quote:

SELLING

Estate Agency Fee – Included within this is:

• Property Schedule – We’ll visit your house and take measurements and photographs in order to prepare a draft schedule for you to approve. Once we’ve discussed any amendments and you’re happy, the schedule is finalised and the property is ready to be put on the market
• Marketing in our monthly Property Journal.
• Posting on our website, www.macraestephen.co.uk which is updated by our property staff several times a week and is an essential resource for buyers outwith the area.
• Follow-up calls to all viewers as well as regular updates to keep you informed.
• Advertising within our office and window display.
• Inclusion on our active mailing list, where we match your property to known buyers
• Advice on all aspects of selling your property, not only from our experienced solicitors, but also from our well-trained property assistants.
• Conveyancing Fee – This covers the work that the solicitors have to do to sell your house. It includes the missives (the offer and acceptance between the solicitors which make up the contract of sale under Scots Law), as well as the preparation of essential paperwork required to transfer the title deeds to the new owners. At MacRae, Stephen & Co. the conveyancing fee is always discounted if we are marketing your property as well.

"Essential Outlays" explained –

P16 – This is to make sure that what you actually own agrees with the Ordinance Survey plan. This is only for properties which have not yet been registered in the new Land Register.

Form 10/12 – This is a search to see if there is anything that would prohibit the sale of the property, such as unpaid debts secured on the house. It also checks to make sure that the sellers do indeed own the property.

Form 11/13 – This is an update of form 10/12.

Registration Dues – These are the costs paid to the Registers of Scotland to register a Discharge of your mortgage deed once the account has been repaid.

Property Enquiry Certificate – This provides details of local authority matters such as roads/water supply/planning issues affecting your property.

Advertising – This refers to advertising in the local press such as the Fraserburgh Herald.

BUYING

Conveyancing Fee This covers all the solicitor’s work involved in negotiating the price, lodging the Offer, concluding the deal, examining the title deeds, preparing the new title deed in your favour, preparing your mortgage documents and paying the price etc.

Essential Outlays – Stamp Duty – This is the tax payable to the Inland Revenue by the purchasers. As a general guide the tax is 1% on purchases over £125,000. If the price is less than this, no tax is payable.

Registration Dues – These are the costs payable to the Registers of Scotland to register your Title Deed and Mortgage Security Deed.

Why Choose MacRae, Stephen & Co.?

• Free Valuation
• Expert Advice from Experienced Professionals
• No Separate Marketing Fee*
• Regularly Updated, Easy to Use Website

At MacRae, Stephen & Co., we’re with you every step of the way to make sure that the sale of your house goes smoothly.

So, why not visit our property office at 40 Broad Street, Fraserburgh or, alternatively, get in touch with our property department on (01346) 514545, or email property@macraestephen.co.uk.

* If property is withdrawn from market before sale a fee of £100 + VAT will be incurred to cover expenses.