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The Fees To Sell A House

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The cost of selling a house in 2023 can be as much as £6,224 for a property priced at the UK’s average of £277,000.

Your total costs for selling will depend on the price your house ultimately sells for, as well as solicitor fees, estate agent commission, your mortgage situation, and any additional services you may need.

In this guide, we provide a breakdown of the costs associated with selling a house, including expected costs and potential ones. We explain it all in a way that’s simple to understand, so you’re aware of the full cost of selling your home.

Table of Contents

How Much Does it Cost to Sell a House in 2023?

The average cost of selling a house includes a range of expected costs, as well as some additional expenses that may be required depending on your situation.

It’s important to note that the average price is just that – an estimate – and the actual cost of selling your house could be more or less.

How much will this move cost?

Add up all the costs associated with your move, including estate agent fees, legal fees, and removals. Do this now to avoid any unpleasant surprises later.

Your Move has teamed up with Embrace Financial Services, so their professional financial consultants can help you figure out the expenses of buying a house.

The Fees To Sell A House
It's important to note that the average price is just that - an estimate - and the actual cost of selling your house could be more or less.

Estate Agent Fees

The average commission for selling your home with a high-street estate agent is 1.18% plus VAT.

This works out to £3,268 for a house with the average UK house price of £277,000. Estate agents generally charge between 1% and 3% of the property’s sale price, but this is only payable after the house is sold.

Many estate agents offer a ‘no sale, no fee’ service, so check this before deciding to use one.

Alternatively, you can opt to sell your home privately or via an online estate agent, which usually charges a fixed fee of between £300 and £1,500. Selling at auction costs roughly £4,713 plus VAT.

Good to know:

  • Make sure you are aware of all costs before you start. Ask for a breakdown of the quote to check if there are any extra costs for marketing or online listings. 
  • Estate agents will estimate the value of your property and advise you on the best-selling price. However, it is up to you to decide what price you want to sell your house for. They know the local market, so they will be able to help you. If you feel the price they suggest is too low, you can get multiple valuations.
  • Estate agents will work on your behalf to get you the highest sale price possible. Should you feel pressured by buyers’ requests, remember that you are the client.

Auction

When you’re selling via auction, you need to plan for two fees:

  • The Auction Entry Fee (from £0-£3,000+VAT) and
  • The Commission on sale (2%-3%+VAT, no sale no fee).

Some auction houses advertise 0% commission, but they’re passing the fee onto the buyer. This means that one way or another, you (the seller) will still pay.

Early Repayment Charge (ERC)

The cost of early redemption can range from 1% to 5% of the loan amount. Make sure to check with your lender to see if such a fee will be applied.

This charge can be higher than anticipated, so make sure you are aware of any exit fees before you sign up for a mortgage.

The details should be outlined in your original mortgage offer. If you feel the early redemption charge is too high, contact the Financial Ombudsman Service.

How much do solicitors charge to sell a house UK
If the market is slow and you want to make sure your estate agent is giving it all they have, you can incentivise them directly by offering a 'sweetener'.

Incentives

If you’re struggling to sell your property due to competition, you have two options: lower the price or make your home more attractive by offering incentives (which depend on the offer).

Seller/Buyer Incentives

Pro Tip: It’s best to tailor incentives to the type of buyer you’re targeting. For example, if you’re targeting property investors, offering 3 months’ worth of rental income could work.

Here are some incentives we’ve used successfully over the last 12 months:

  1. Free legal fees (costs between £500 and £1000)
  2. Stamp duty paid (amount depends on property value)
  3. Furniture pack (worth £1000)
  4. Removals paid (costs between £250 and £4000)
  5. 2-3 months’ rental income paid (depends on market rate)
  6. High street voucher (worth £500)

Estate Agent Incentives

If the market is slow and you want to make sure your estate agent is giving it all they have, you can incentivise them directly by offering a ‘sweetener’.

Solicitor Fees for Selling a House
Be cautious of any quotes that are too low or too high. Request a breakdown of the quote and compare different conveyancers.

Solicitor Fees for Selling a House

When you’re selling a property, you’ll need to hire a conveyancer or solicitor to manage the legal side of the deal. The average conveyancing fee for a freehold property is typically £1,270, which includes the legal fee and conveyancing disbursements.

Disbursement costs could include:

  • Title deeds copy for £6,
  • A telegraphic transfer fee of around £40 (including VAT),
  • An anti-money laundering check for £5, and
  • A mortgaged property supplement fee of £220.

Leasehold sales typically involve more complex legal work, so the conveyancing fees may be higher – around £1,420 on average. However, some solicitors offer a fixed-fee conveyancing service, so it’s worth asking about this upfront.

Good to know:

  • Choose your solicitor carefully. Ensure they are regulated by the Council for Licensed Conveyancers (CLC), the Solicitors Regulation Authority (SRA), the Law Society of Scotland (LSS), or the Law Society of Northern Ireland (LSNI).
  • Be cautious of any quotes that are too low or too high. Request a breakdown of the quote and compare different conveyancers.
  • Refrain from using the conveyancer recommended by the estate agent. Read reviews and get recommendations from friends when selecting a conveyancer.

Mortgage Fees

If you are selling a property that has a mortgage attached to it, you may be subject to extra fees. The two most common fees are mortgage exit fees and early repayment charges.

Mortgage Exit Fee: You will need to pay a mortgage exit fee to your lender before you can close your mortgage. This fee usually ranges from £50-£300, however, this amount varies depending on who your lender is.

Early Repayment Charge: If you have paid off your mortgage early or if you are terminating your fixed-term agreement before its end, you may have to pay an early repayment charge. This usually costs between 1-5% of the loan.

Costs to Consider When Taking Out a New Mortgage: If you are buying a new property and still have an existing mortgage, you can either remortgage to get a better deal or transfer your current mortgage to the new property. In both cases, you may be subject to additional fees such as:

  1. Arrangement fee – £1,000 – £2,000
  2. Booking fee – £100 – £250
  3. Valuation fee – £150 – £1,500

Good to know:

  1. Check that the fees charged align with what is stated in your original mortgage agreement.
  2. Discover if your lender will impose an early repayment charge or mortgage exit fee.

EPC Certificate Costs

You must get an Energy Performance Certificate (EPC) when you’re selling your house. This must be done before you put the property on the market. An EPC will cost you between £60 and £120.

Getting an EPC is essential; it will help you to make your property more desirable. The certificate will give you an accurate picture of the energy use and costs associated with your property, helping you to make any necessary improvements to make it more appealing.

Cost of an EPC certificate: £85

Good to know:

  • You can purchase an Energy Performance Certificate (EPC) online from providers.
  • Alternatively, you can ask your estate agent to get one for you.
  • The certificate is valid for up to 10 years, so you won’t need to get a new one if you sell within that timeframe.
How Much Are Removal Company Costs
Make sure the removal company you employ has both Goods in Transit and Public Liability insurance.

Removal Company Costs

Once you’ve found a buyer for your property and organised the completion day, you’ll need to book a removal company. Removals for a 3-bedroom house, travelling 50 miles, will usually cost an average of £1,181.

The cost of your house removal will depend on the size of your house, the distance travelled, and whether you need any additional services such as packing or storage. Here are the average costs for various moves, travelling 50 and 150 miles respectively:

Good to know:

  1. To save money, you might want to consider self-storage so you don’t have to bring as many items with you.
  2. Make sure the removal company you employ has both Goods in Transit and Public Liability insurance.

Preparing House for Sale Costs

Cleaning can cost between £0 and £150 while painting and fixing repairs range from £50 to £2,000. It doesn’t have to cost a fortune to get your house looking great for a sale, yet it could make a huge difference when it comes to getting a better offer.

We highly recommend thoroughly cleaning your house before viewings, and photographs, and again before the buyers move in.

If there’s a damp issue, it might be worth getting a quote to understand how much it’ll cost to sort it out. If that’s too much trouble, make sure to factor this into the sale price, as it will be highlighted in a property survey.

Good to know:

  • Buyers may attempt to negotiate the price if their survey reveals any repair work needs to be done. To avoid this, address any repairs and be ready for it to be a topic of discussion.
  • Simple things like broken door handles or radiators can be fixed quickly, making your home more appealing.

Capital Gains Tax (CGT)

If you make a profit on the sale of a property that is not your primary residence, such as a buy-to-let, you may have to pay Capital Gains Tax (CGT). For basic-rate taxpayers, the rate is 18%, and for higher tax bands, it is 28%.

You must pay Capital Gains Tax on a house you are selling if it is:

  1. Inherited property,
  2. A buy-to-let,
  3. A holiday property,
  4. Business premises, 
  5. Land

Good to know:

  • If you’re a cash buyer or selling a home that you have been living in for the last 18 months, you won’t have to pay Capital Gains Tax.
How to calculate profit when selling a house
To calculate your net profit, you need to subtract the initial purchase cost of the property (and any other associated buying expenses if you're feeling extra precise) from your total earnings.

How to calculate profit when selling a house?

Let’s talk about what most house sellers want to know: their profit from the sale. To figure this out, you need three numbers:

  • The sale price (A),
  • The mortgage balance (B), and
  • The total cost of selling (C).
  • From there, it’s just a matter of simple math: Gross Profit = A – (B + C).

Here is a quick, basic example of selling a property worth £100,000 with a £30,000 mortgage that needs to be paid off:

To calculate your net profit, you need to subtract the initial purchase cost of the property (and any other associated buying expenses if you’re feeling extra precise) from your total earnings.

This will give you the net gain from your investment, so you’ll be able to see how much you’ve made.

Can You Reduce The Cost Of Selling Your Home?

  1. Hiring the right estate agent is key to reducing the cost of selling your home. Do your research to make sure you’re getting a good deal and that you aren’t tied into any long-term contracts.
  2. When it comes to improvements, think twice before investing too much. It can be tempting to turn your home into a showroom, but you won’t necessarily get a return on your investment. Timing is also important when selling your home.
  3. Pay attention to the market and avoid slow times such as the Christmas period.
  4. Lastly, consider all your options before deciding how to sell your property. The open market may take time, but if you need a quicker sale you could look into alternative options like

Alternative Sales Route (Free)

At Property Saviour, we can buy your home quickly with no agency fees, legal fees, or EPC fees. Furthermore, we will even get rid of any unwanted items from your house at no cost. We are cash buyers, which means the process is fast and straightforward.

With us, you can have your house sold in as little as 7 days. We will take care of everything for you, making the sale process worry-free.

To make sure our cash offer is precise, we only need one quick viewing. And since we are an authentic cash buyer, the amount you accept with our offer will be the precise amount that you will receive in your bank account in full.

If you would like to get a no-obligation cash offer, give us a call or fill in our online form. We will ensure that you get the full amount in your bank account without having to pay any legal or estate agent fees.

auction hammer

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.
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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

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.

Sell with certainty & speed

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