How Much Does It Cost to Sell a House
When moving home, especially if you have a property to sell, there are several costs to budget for. From estate agent fees to solicitor fees, how much does it cost to sell a house? We break down the fees you can expect to incur when selling a house.
These can vary from home to home, and this is to be used as a guide only – always be sure you set up your budget.
Costs when selling a house
Moving home does not come without expense – some more obvious than others.
Below is a summary of where you are likely to incur a fee:
- Estate agent fees – depending on the type of agent and service you use these can vary
- Energy performance certificate – required before you can list your home for sale
- Mortgage redemption fee – if you are breaking the terms of your existing mortgage
- Getting sale ready – overdue repairs fixed
- Cleaning costs – doing a deep clean before you sell can be worth it
- Storage costs – if you declutter but want to keep rather than dispose of
- Conveyancing fees
- Removal costs
Some of these charges are expected when moving home, however, others are easily forgotten. So, let’s go into further depth to help you get your head around exactly what’s involved.
Estate agents’ fees when selling a house
When contemplating “how much does it cost to sell a house”, there’s no exact figure for the price of selling your home, as this entirely depends on the property, situation, and circumstances. Properties are all sold at different prices, and these vary from location to location.
A no sale no fee estate agent only charges a fee upon the successful sale of your property. You’re looking at around 1-3% of the final sale price of your home.
An online estate agent, for example, usually charges a fixed fee. With this, you may also get less personal service and fewer viewings.
The estate agent you choose is really important. Before choosing an estate agent make sure you do your research. As well as their fee make sure you are clear on their service, do they have industry accreditations, are experienced and qualified too. An agent that holds a Propertymark accreditation follows a code of conduct above what the current law requires.
A good estate agent will be able to demonstrate their local insights too.
Energy performance certificate
An EPC measures the energy efficiency of your property by giving it a rating from A to G. It’s a requirement to get an energy performance certificate when selling your home. Before placing your home on the market.
The cost for these is from £80+
If the energy performance certificate produces a low rating, it’s important to note that buyers may use this to haggle the asking price down. This is a crucial aspect to keep in mind when determining how much it might cost to sell your house, as it could influence the final selling price.
Mortgage redemption fee
There are two potential costs to be aware of when you are selling a house with a mortgage:
- Early repayment charges – usually 1-5% of the loan amount
- Mortgage exit fee also known as a “deeds release fee” or “admin fee” (sometimes up to £350)
Not all lenders will have these fees, but it’s important to be aware of what you’ll be paying. Sometimes, the charges can be much higher than initially expected.
Getting house sale ready
Getting your home ready for sale might mean getting those overdue repairs fixed or a lick of paint to get your home looking fresh and appealing to potential buyers. And don’t forget the outside, tidy your garden and drive if you have one – kerb appeal as part of your home staging process everything!
Whether you do this yourself or get tradespeople in to do this for you there will be an expense that you’ll need to factor in.
Deep clean & storage
In my opinion, your house should be clean and gleam when would-be buyers are viewing your home.
Remember that it only takes the first few minutes to bring in a property before people form an opinion on it. Making this time count is important, so ensuring your home is sparking clean is the first step to impressing potential buyers.
Also, if you have large items of furniture or nick-knacks you can’t part with then putting them in storage until you’re ready to re-home them can be a good idea. However, it costs money so working out how long you might need a storage solution for is important.
Conveyancing fees
Finding the right solicitor or licensed conveyancer is important.
Charges will vary; some will charge a flat fee while others will be a percentage of the property’s sale price. To review your options and receive some quotes complete our form below.
Removal costs
A removal company will charge you for their services, which is why some people choose to do it themselves.
DIY removals will still require you to hire a van and it’s worth considering that your possessions may not be covered by your home insurance provider while in transit.
For the ease of packing, loading moving and unpacking as well as having possessions insured in transit a professional removal service can be worth its weight in gold. What you’re charged will depend on the size of your property and how much you have.
Tips for selling a house
A good estate agent can help you with every step of the way. From home staging to providing market insights and negotiating offers.
Look for organised buyers, trying to avoid timewasters at all costs. These can be difficult to spot yourself but your estate agent should be alert to this, but tell-tale signs include not having a mortgage in principle and not being under offer on their home if they need to sell to move.
First-time buyers will be chain-free, so this can help you avoid the potential risks that can come hand-in-hand with being in a chain.
Need more advice?
We’re here to help sellers, buyers, renters, and movers navigate the property market from start to finish. By providing guidance every step of the way.
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Last Updated: November 1st, 2024
