š Property Investing Fees! Good, Bad & the UNEXPECTED! | Nottingham Property Investment Journey! š
Property investing fees! the good! the bad! and the unexpected! Iāve just gone through the Bridge to let let process and in this blogĀ Iām going to list 4 main fees that I had pay some of which totally unexpected!
Intro:
- Some of these fees where expected and some defiantly where not! These fees I feel like all the gurus don't go into as much depth and tell you everything!
- But these are the fees I had to pay on for may last property purchase and for the one thatās Iām fighting to get through now!
Main Body:
- Broker fee - Ā£300 + completion fee, they did a lot for this fee, they found the initial deal in the first place, on this I had a very valid comment the other day on brokers saying that they wouldn't use a broker as they paid of by the lenders so you might not be getting the best deal!
- This is a very interesting point what your view on this pop this down in the comments. Iāll do a blogĀ on this topic ion the future soon to come,
- My brokers pushed the sale through, I know they getting a fee for this but to be honest any help and support in this regard I feel is invaluable.
2. Valuation fee - I didn't know this expected this to be as high as it was, commercial valuation is a lot higher, Ā£1350 + tax a lot higher than residential fee however I didn't have to pay stamp duty
3. Stamp duty - Ā£2300 paid on flat as it was a residential purchase, but didn't pay stamp duty on the commercial property that I buying at present. fingers crossed it goes through!
4. Solicitor fees - independent advice, directors loan agreement
Bonus fee - Insurance fee
Outro:
- Please do your own research into this and this was my experience, every one has different experiences based on their circumstances! so please always do your research!
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