hi everyone. need a little help with my form E.
2.1 is asking me to estimate "cost of sale of property" does this mean what estate agents & solitors etc would charge to sell the house? & next question is "total equity in the property" is this asking me to deduct the answer the the above?

sxi jayne wrote:
estimate "cost of sale of property" does this mean what estate agents & solitors etc would charge to sell the house?

I put 2% I think!? Estate Agency commission fee. Not sure if I should have factored in conveyancing? (My sol said 2.5% is normal)

Hi sxi,

Normally the cost of sale of a property includes estate agent commissions, legal costs, HIP packet and removal costs.
Was told that it was roughly 3% of the value of the property.

Question two : you are right, your interest in the house is your equity minus the cost of sale.

One other thought : be careful when valuing the property, especially if it is - like for most people - your biggest asset.
In these uncertain times even estate agents are no longer sure as to what a property will fetch realistically.

Red XX

I did all these calculations, HIPs, estate agents etc, for form E but when I talked to my solicitor he had a formula to apply. Easy! And I had underestimated by half...

thank you for that guys.
so after hip pack, estate agents, solicitors, removel fees & any outstanding morgage etc are deducted from the selling price & lets say for arguements sake that is £100,000.000 & iam going for 50% of the equity which gives me £50,000.00, if my ex decides to just "pay me out" why should estate agent fees, solicitors, hip packs, removel fees etc be deduced first has these people will not be involved so nothing to payout in that respect, i could be looking at a few more £100s surely, will any judge take this in to account????? thanks sxixx