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Battersea Office
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6 Battersea Rise
London SW11 1ED
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Tel: 020 7924 4400
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Munster Village Office
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191 Munster Rd
London, SW6 6BY
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Tel: 020 7471 2020
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Parsons Green Office
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78 New Kings Rd
London SW6 4LT
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Tel: 020 7731 4448
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battersea
office
covering the areas of Battersea, Clapham,
Brixton, Balham and Wandsworth
fulham
offices
our two offices covering the areas
of Parsons Green, Munster Village, South Park, Sands End, Hammersmith,
Barons Court and West Kensington
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selling property
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;
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- Mortgage arranger's commission;
- Legal costs of selling (solicitor);
- Transfer taxes;
- Agent's selling commission (Wellingtons' marketing fee)·
- Unpaid property taxes, water and other utility bills;
- If required by the contract: cost of survey, buyer's completion
costs, repairs, etc.
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