property for sale: hampstead, north west london
Determining Your Net Proceeds
In evaluating purchase offers, you need to know what the buyer's position is as regards chains and mortgage or cash purchase. If you're lucky enough to get two competing offers, you may find that sometimes the highest offering price may not be the best offer.
If one buyer is in a chain and the other is not, and can proceed immediately, there may be less chance of any glitches . Equally if the highest offering buyer has to go through all the steps to get a mortgage and the other buyer is a cash buyer, the cash buyer may be a simpler and more reliable choice.
To calculate your net proceeds from any given offer, you subtract the following amounts from the gross sale proceeds;·
- Pay off amount on present mortgage;
- Any other secured loans or charges against the property; ·
- Mortgage arranger's commission;
- Legal costs of selling (solicitor);
- Transfer taxes;
- Agent's selling commission (Martin and Wright' marketing fee)·
- Unpaid property taxes, water and other utility bills;
- If required by the contract: cost of survey, buyer's completion costs, repairs, etc.
West Hampstead Estate Agent | Martin & Wright
Martin & Wright is an Independent Estate Agency based in West Hampstead. Associated in 1998, we are well established in the market place and command a strong market presence. Operating from our newly modernised, state of the art offices in West End Lane, West Hampstead our primary objective is to offer an honest, reliable and efficient service to our Clients. We specialise in quality Sales, Rentals and Management with Central and North West London.
Cricklewood, NW2 | Kilburn, NW2 | Hampstead, NW3 | West Hampstead, NW6 | South Hampstead, NW6 | Belsize Park, NW3 | St Johns Wood, NW8 | Maida Vale, W9
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