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Cost of Selling "Buy to Let" Property

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  • 17-09-2017 2:43pm
    #1
    eddiem74
    Registered Users Posts: 2,027 ✭✭✭


    So what costs are associated with selling a "Buy to Let" Property?

    - Estate agent e.g. 1% + VAT
    - Solicitor
    - ????

    Is there any difference or is it more expensive than when buying the property?


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    #2
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,505 Mod ✭✭✭✭johnnyskeleton


    Capital gains if sold at a higher price than purchased for.


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    #3
    eddiem74
    Registered Users Posts: 2,027 ✭✭✭eddiem74


    johnnyskeleton wrote: »
    Capital gains if sold at a higher price than purchased for.

    Is that 33% on the profit less 1270 allowance?


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    #4
    Fkall
    Registered Users Posts: 135 ✭✭Fkall


    eddiem74 wrote: »
    So what costs are associated with selling a "Buy to Let" Property?

    - Estate agent e.g. 1% + VAT
    - Solicitor
    - ????

    Is there any difference or is it more expensive than when buying the property?

    Estate agents fees - 1.75% plus Vat in Dublin


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    #5
    eddiem74
    Registered Users Posts: 2,027 ✭✭✭eddiem74


    Fkall wrote: »
    Estate agents fees - 1.75% plus Vat in Dublin

    Thanks I am just looking on get a sense of all costs involved and how different from buying they will be.


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    #6
    lcwill
    Registered Users Posts: 259 ✭✭lcwill


    @eddiem74 sorry to butt in to your thread, but if anyone has experience of selling without going through an agent I would be very interested to hear.

    I assume this is more common for landlords buying and selling rental properties than for individuals buying and selling their homes


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    #7
    Lumen
    Registered Users Posts: 31,080 ✭✭✭✭Lumen


    Fkall wrote: »
    Estate agents fees - 1.75% plus Vat in Dublin
    I paid 1% in 2016. Have they gone up?


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    #8
    paudgenator
    Registered Users Posts: 150 ✭✭paudgenator


    What differentiates a "Buy to let" property?


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    #9
    wordofwarning
    Closed Accounts Posts: 697 ✭✭✭wordofwarning


    lcwill wrote: »
    @eddiem74 sorry to butt in to your thread, but if anyone has experience of selling without going through an agent I would be very interested to hear.

    I assume this is more common for landlords buying and selling rental properties than for individuals buying and selling their homes

    I personally would not buy a house from a seller who won't use an agent. There is literally nothing stopping phantom bidders. A lot of people can't take emotion out of selling an item owned by them. Look at buying a used car from a dealer versus someone on donedeal. The seller on donedeal is generally a nightmare to deal with

    I know of a landlord who was willing to sell a house to a family friend for £240k. The family friend said no as they didn't like the ESB substation in the back. The seller put it on the market. The house sold for £400k.

    Moral of the story, sellers A) don't know the real value of their property B) lack the negotiation and marketing skills to achieve top dollar

    If Americans are willing to pay 3/4% to an agent to sell a house there. That says a lot about whether or not they are worth it


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    #10
    circular flexing
    Registered Users Posts: 2,587 ✭✭✭circular flexing


    paudgenator wrote: »
    What differentiates a "Buy to let" property?

    I would say a property that was bought with the intention of renting it out so was never the PPR of the person who bought it.


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