Selling a house can be very expensive, from paying estate agent fees, EPC certificate, solicitors fees and refurbishment costs. There are several hidden fees when selling a house. These include:
- Mortgage payments until the sale is completed;
- Building insurance or empty property insurance if it is unoccupied;
- Utilities – standing charges for gas, electricity, and water;
- Council tax – if a property is empty, this could be as much as 200% of the normal rate;
- Regular maintenance costs such as grass cutting and washing windows.
There are unexpected costs involved in selling a house, some of which you may not even know about. There are many fees to factor in that can occur at various stages of the process, from preparing a house to go on the market to the buyer’s surveyor recommending essential repairs.
There are a few different options to consider when it comes to selling a house, so it is worth conducting some research into which is the best option for you and to get a clearer picture of how much it costs to sell a house.
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Average costs of selling a house in the UK
It can cost as much as up to 5% of resale value provided that you own your home mortgage-free.
These costs will include up to 2.5% of estate agency fees, 1.2% of solicitors fees, and 1% of removal and storage fees.
We’ve not factored in council tax, insurance, standing charges for utilities, works required to sell the property, renegotiation of price following an adverse survey and mortgage payments until it sells.
What are hidden fees when selling a house?
Estate Agency Fees
The commission varies between different high-street estate agents. If you are selling your home, you may pay anywhere from 0.75% to 3.0% + VAT of the house’s selling price. However, the fees can differ depending on the type of contract you have with the agency.
For lower-value properties, they may charge a fixed fee, whereas if you have a high-value home or can agree to a sole agency contract, there’s room for negotiation – this is when you cannot list your home for sale with any other agent for a set period.
Solicitors Fees
When it comes to selling your home legally, you must hire a solicitor or conveyancer. This person will handle the financial and legal process and usually charge a one-off fee or a percentage of your house’s value.
If you are selling a leasehold property, you may pay more. Other fees under this umbrella may include the copy of title deeds, money-laundering checks, and a bank transfer fee.
EPC Costs
It is compulsory to provide any prospective buyers with an Energy Performance Certificate (EPC). The results of the EPC should be included in all marketing material for the property once it has been commissioned.
The cost of an EPC is based on the type of property and the number of bedrooms.
Removal Costs
No matter if you have bought a new property or not, you will need to empty your home of all your belongings. Prices differ greatly; some people opt to rent a self-drive van, while others use a removal company. Naturally, the size of your home will determine which option you choose.
Renting a vehicle starts at £45, while the cost of a specialist removal firm can exceed £1,500 for bigger homes.
Be prepared for a possible no sale scenario
We are living in very uncertain times when it comes to the housing market, so even if you have done everything right and advertised your house well, there is still no guarantee that anyone will be able to buy it.
Lenders are much less willing to lend now due to this housing market uncertainty, so even if someone wants to buy your house, there is a possibility that they might not be able to.
With recent rises in interest rates, which is likely to affect housing prices, and even put people off buying. The Bank of England has raised its base rate.
Property Saviour to the Rescue!
If you are hoping to sell your house for a fair price, then Property Saviour can help you.
We are genuine cash buyers who are able to exchange contracts within days. On average, it takes us 10 days to exchange a contract, with you in the position to decide when you want the sale to complete.
With 25 years of experience, you can rest assured that you are in good hands when selling your house.
We offer a high standard of service every time, thanks to our team of property experts who are ready to work with you. Our values are honesty, integrity, and trust, so be sure to call us to make an enquiry.
We are different from others, more traditional house-selling methods as we buy any property for ourselves rather than act on behalf of other investors, meaning that there are no contracts to sign. We charge no fees, offer a free valuation and will even provide you with £1,500 towards your legal fees, free house clearance and a free energy performance certificate.
Don’t hesitate to get in contact today by calling us on 0113 320 6700.
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.
