So what’s the cheapest way to sell a house?
When it comes to selling your house, one of your main goals will be to get the most out of the sale. There is no guarantee that you will achieve your asking price, but what you can control are your costs of selling.
We will show you the different selling methods and reveal the cheapest way to sell a house.
Using the cheapest method will allow you to get the maximum amount of money offered, after factoring in the cost of fees.
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The Cheapest Way to Sell Your House: A Comprehensive Guide
Selling your home can be costly, but there are ways to minimise expenses and maximise your profit. Let’s explore the most cost-effective methods to sell your property in the UK.
Estate Agents: Traditional vs Online
High street estate agents offer comprehensive services but come with hefty fees, typically 1-3% of the sale price. Online estate agents provide a more basic service at a lower cost, often with fixed-fee packages. While these options are common, they’re not necessarily the cheapest.
Selling a house through an estate agent is typically the most popular way to go. But is it the cheapest? That depends on the kind of estate agent you choose.
High street estate agents are well-known and offer a comprehensive service.
They will do valuations, photos, floor plans, and EPCs, advertise your property on portals, conduct viewings, and handle negotiations. This comes with a higher price tag for the estate agent fees. However, you won’t have to pay anything if the sale doesn’t go through.
Online estate agents offer a more basic service but at a lower cost. Hybrid estate agents are a combination of high street and online agents. They offer a ‘local property expert’ for valuations and may also manage viewings for an additional fee.
High street estate agents cannot be seen as the cheapest way to sell as you will have to pay the estate agent fees, as well as other fees such as legal and removal fees.
Hybrid and online estate agents offer a cheaper option but are still not the cheapest way to sell a house. For the lowest costs, you will need to use another sale method.
Private Sale: A Hands-On Approach
Selling your house privately can save you money on estate agent fees. However, it requires significant time and effort. You’ll need to:
- Value your property accurately
- Create compelling listings and photographs
- Advertise on property portals and social media
- Conduct viewings and negotiate with potential buyers
- Handle paperwork and legal aspects
While this method can be cost-effective, it’s time-consuming and may result in a lower sale price without professional marketing.
Auctions: Speed & Potential Savings
Selling at auction can be quick and potentially cheaper than using an estate agent. However, be aware of:
- Entry fees and commission (usually 2-3% of the sale price)
- The risk of selling below market value
- The need for a low guide price to attract bidders
Cash Buyers: A Swift Solution
Companies like Property Saviour offer to buy your house for cash, often completing the sale within 10 days. While you might sell for less than market value, you’ll save on estate agent fees, marketing costs, and potentially legal fees. This option is particularly attractive if you need to sell quickly or have a problematic property.
If you’re considering a cash sale, why not get in touch with Property Saviour? We offer a no-obligation cash offer and can complete the purchase at a timescale that suits you.
Sell with certainty & speed
Part Exchange: A New Build Option
Part exchange schemes allow you to trade your current home as part payment for a new build property. While this can save on estate agent fees, remember:
- You’ll likely receive less than market value for your current home
- You’ll be paying a premium for a new build property
- There may be delays in completion dates
What about Free Property Auctions?
Estate agents promote a free auction service called Modern Method of Auction. The sellers are told there are no fees payable.
But what they don’t tell you is that auctioning a house will cost your buyer £9,600 buyer’s premium. This means that your buyers will bid £10k less for your home.
You will also need to put in a very low guide price and risk selling the property at just 10% above it.
Auctions aren’t not fast. You’ll need to allow up to 3 months for it to conclude.
Even after paying upfront entry, legal fees and searches, there’s no guarantee that your property will sell.
The Cheapest Way to Sell a House: DIY Approach
The absolute cheapest way to sell a house is to handle everything yourself:
- Research local property prices to set a competitive asking price
- Prepare your home for sale with minor repairs and decluttering
- Take high-quality photos and write a compelling description
- List your property on free platforms like social media and local community boards
- Conduct viewings and negotiate with potential buyers
- Handle the legal paperwork yourself (though this is risky without expertise)
This method requires significant time and effort but eliminates most selling costs.
Tips for a Cost-Effective Sale
- Boost your home’s kerb appeal with simple, low-cost improvements
- Consider timing your sale during peak buying seasons (spring and autumn)
- Be realistic about your asking price to attract more potential buyers
- Negotiate with estate agents for lower fees if you decide to use one
- Compare conveyancing quotes to find the best value
What is the average cost of selling a house in the UK?
The average cost of selling a house in the UK ranges from £5,000 to £10,000, including estate agent fees, conveyancing, EPC, and removal costs. However, costs can vary significantly depending on your property value and the selling method you choose.
Can I sell my house without an estate agent in the UK?
Yes, you can sell your house without an estate agent in the UK. This can save you money on fees but requires more time and effort on your part. You’ll need to handle marketing, viewings, negotiations, and paperwork yourself.
How can I sell my house quickly in the UK?
To sell your house quickly in the UK, consider:
- Pricing it competitively
- Using a cash buying company like Property Saviour
- Selling at auction
- Ensuring your property is in good condition and well-presented
- Being flexible with viewings and negotiations
Remember, the cheapest way to sell your house may not always be the best option for your situation. Consider your priorities – whether it’s speed, convenience, or maximising profit – and choose the method that best aligns with your needs.
If you’re looking for a balance of speed, convenience, and cost-effectiveness, why not consider Property Saviour? We offer a hassle-free sale process with no fees and can complete the purchase in as little as 10 days. Get in touch today to discuss how we can help you sell your house quickly and efficiently.
Sell with certainty & speed
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
