How do I move house?

[nellyjelly]

I know I am an idiot but how does it work.

I am living in a house we bought as a ftb but want to move. Our house has around £100 g equity in it so that would be the deposit I guess on the next one. However we have very little spare cash for solicitors and agency fees. All our money is in the equity. Is there a way to move using this equity? Do people do this? Or do you have to have money ready for fees, surveys etc.

I suppose what am saying is that I would hold back around 5 grand from the sale for fees etc. just not sure I can do this.

Yes, you could look at your 100k equity and set aside say 5 or 10k to pay solicitors, stamp duty, moving costs at the end of it. Of course, this assumes that you do sell - if you think that you have sold, put in an offer on another house, sort out a mortgage, get survey etc but the whole thing falls through, you will still have to pay those costs but without having freed up the money from your own home.

Eek that is what worries me. I will put house up for sale and wait and see. If something does fall through, aside from survey, what else needs to be paid? Assume not estate agent as sale not gone through. I guess solicitor up to a point, depending on how far the sale has gone?

Thanks for your reply.