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What is the Cost of Selling a House? 

Property Saviour » Selling » What is the Cost of Selling a House? 

The cost of selling a house in 2023 is £6,224 for a house priced at £277,000 – the average in the UK. Your total selling costs are dependent on the price your home sold for, solicitor fees, the estate agent’s commission, your mortgage situation and any additional services you may require.

In this guide, we provide a comprehensive breakdown of the entire cost of selling a house, including estimated and potential costs.

Table of Contents

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

The average cost of selling a home includes estimated costs and some possible extras, depending on your circumstances. This price is just an average, and the cost of selling a house can be higher or lower. Remember, the cost of selling a house in Scotland could be different.

Expected cost:

Service:

Cost:

Estate agent fees

£2,770 – £8,310 (1-3% of the final sale price)

Conveyancing fees

£1,690 (inc. VAT) solicitor’s legal fee.

Energy Performance Certificate (EPC)

£60 – £120 (inc. VAT)

Removal company cost

£1,181 – for a 3-bedroom house travelling 50 miles with packing.

Potential extra costs:

Service:

Cost:

Mortgage exit fee

£50-£300

Early mortgage repayment charge

1% – 5% of outstanding mortgage

Capital Gains Tax

Varies

Porting a mortgage

Up to £450 for valuation

Home Report (If selling in Scotland)

£585 – £820.

Estate Agent Fees

The average commission that high-street estate agents charge for selling your house is 1.18% plus VAT. For a house priced at the average UK house price of £277,000, the fees will total £3,268.

The commission rate estate agents charge is based on the final sale price. The amount payable is usually between 1% and 3% and is only due once the house is sold.

Many estate agents offer a ‘no sale, no fee’ service, so be sure to check this out before using one.

Alternatively, you could sell your home privately or via an online agent. Online estate agents typically charge a fixed fee between £300 – £1,500, regardless of the house price. Selling at auction is another option, with costs usually at around £4,713 + VAT.

Good to know:

  1. Make sure you understand all the costs that come with the quote. Ask for a detailed breakdown of the expenses, as some might charge extra for marketing or online listings. Utilize our convenient Conveyancing Fees Calculator to help you.
  2. Estate agents will assess the value of your property, but the final decision on the sale price is up to you. They have a great understanding of the local market, but if you disagree with their valuation, you can get multiple opinions.
  3. Estate agents are there to do their best to get you the best possible price. If you feel pressure from buyer requests, bear in mind that you are the client.
What Is The Cost Of Selling A House?
The commission rate estate agents charge is based on the final sale price. The amount payable is usually between 1% and 3% and is only due once the house is sold.

Solicitor Fees for Selling a House

When selling a property, you’ll need to hire a conveyancer or solicitor to handle the legal side of the sale.

The average conveyancing fees for a freehold property are usually £1,270, which includes the solicitor’s legal fee and conveyancing disbursements. Disbursements can include:

  • Title Deeds Copy at £6,
  • Telegraphic Transfer Fee of £40,
  • Anti-money Laundering Check at £5,
  • Mortgaged Property Supplement Fee of £220.

Leasehold sales tend to be more expensive due to the complex legal work involved. Some solicitors offer a fixed fee conveyancing service, so it’s important to find out up-front.

Good to know:

  • Choose your solicitor wisely. Ensure that they are regulated by the CLC, SRA, LSS, or LSNI.
  • Be cautious of quotes that seem too good to be true or too expensive. Ask for a breakdown of the quote and compare different conveyancers.
  • Don’t rely on the conveyancer that your estate agent recommends. Do your research by reading reviews and seeking referrals from friends.

Mortgage Fees

If you’re selling a house with a mortgage, you’ll incur some extra fees. The two primary mortgage fees to be aware of are mortgage exit fees and early repayment charges.

  1. Mortgage Exit Fee: You must pay your lender a mortgage exit fee to close your mortgage if it has been paid off. This usually costs between £50-£300, however, the amount will depend on the lender.
  2. Early Repayment Charge: If you’ve paid off your mortgage ahead of time or if you’re leaving your mortgage before the fixed term ends, you may be subject to an early repayment charge. This typically costs between 1-5% of the loan.
  3. Costs to Consider When Getting a New Mortgage: If you’re both buying and selling and still have a mortgage, you can either remortgage to find a better deal or transfer your current mortgage deal to the new property.
  4. Both options come with potential fees, such as an arrangement fee of £1,000-£2,000, a booking fee of £100-£250, and a valuation fee of £150-£1,500.

Good to know:

  • Verify that the fees you are charged are consistent with what is stated in your original mortgage agreement.
  • Discover if your lender will impose an early repayment charge or mortgage exit fee.
EPC Certificate Costs
The cost of an EPC certificate is usually between £60 and £120.

EPC Certificate Costs

You must get an Energy Performance Certificate (EPC) before you put your property on the market. The cost of an EPC certificate is usually between £60 and £120.

It is vital to get an EPC to maximize your chances of selling your property. It will provide you with an accurate assessment of your property’s energy usage and costs, so you can make any necessary changes to make it more attractive to potential buyers.

Good to know:

  • You can easily order an EPC online from providers.
  • Alternatively, you can get your estate agent to do it for you.
  • These documents are valid for up to 10 years, so if you sell your property within that time frame, you won’t need to get another one.

Removal Company Costs

Cost of removal company: £1,181

Once you’ve found a buyer for your home and arranged a completion day, you’ll need to book a removal company. On average, a removal company for a 3-bedroom house travelling 50 miles will cost £1,181.

The cost will vary depending on the size of your home, the distance travelled, and if you require any extra services such as packing or storage. Here are the average costs for different sizes of moves, travelling 50 and 150 miles.

Size of Move

Cost of Removal Company Travelling 50 Miles

Cost of Removal Company Travelling 150 Miles

1-bedroom

£356

£468

2-bedroom

£576

£688

3-bedroom

£806

£918

4-bedroom

£1,056

£1,168

Good to know:

  1. To save money, you could opt for self-storage, so you don’t need to take as many belongings with you.
  2. Always make sure the removal firm you’re using has Goods in Transit and Public Liability insurance.

Preparing House for Sale Costs

Cleaning costs can range from £0 to £150, painting from £50 to £1000, and fixing repairs from £0 to £2000. Giving your house a good clean before any viewings or photographs can make a big difference when it comes to getting a good offer.

If your house has a damp problem, it’s worth getting a quote to see the cost of resolving this. If it’s too much trouble, you should factor it into the sale price as this will be highlighted in a property survey.

Good to know:

  • Buyers may attempt to negotiate the price if their survey reveals any repair work is needed. Anticipating this, it’s beneficial to fix any repairs or be aware of any potential repairs.
  • Minor fixes such as broken door handles or radiators can make your house much more appealing.
What is a Capital-Gains-Tax?
Basic-rate taxpayers should expect to pay 18% CGT, while higher tax bands will pay 28%.

Capital Gains Tax (CGT)

If you make a profit from selling a house that is not your primary residence, such as a buy-to-let property, you may have to pay Capital Gains Tax (CGT). Basic-rate taxpayers should expect to pay 18% CGT, while higher tax bands will pay 28%.

You may also need to pay CGT on:

  1. Inherited property,
  2. Buy-to-let properties
  3. Holiday properties,
  4. Business premises,

Do You Have Any Extra Tips?

There are several options to consider when selling your house. You can go with an online estate agent to save some money, try a house auction, contact property investors, or opt for a ‘sell house fast’ option. It all depends on your circumstances and which option is most suitable for you.

If you choose to go with the open market, it is important to select the right estate agent, while not compromising on your profit. Depending on the value of your property, you may want to look into an agent with a fixed fee.

We have done extensive research into estate agent commissions, which you can access if you are interested.

Another factor to consider is the time it takes to sell your house. The longer it takes, the more bills you will accumulate.

Therefore, it is essential to do your research and check comparable properties in the area to make sure your house is priced correctly before listing it on the open market and trusting your estate agent’s valuation.

Can You Reduce The Cost Of Selling Your Home?

Hiring a good estate agent is key to reducing the cost of selling your home. Research the estate agent’s reputation and other people’s experiences with them. Make sure their contract is flexible enough that you can switch agents if they don’t perform well.

Don’t overdo the improvements!
The money you invest in these larger projects probably won't be reflected in the sale price.

Don’t overdo the improvements

When you’re selling your home, it can be tempting to give it a complete overhaul. Although adding a new coat of paint or fixing a crack in the wall is a smart move, it may not be beneficial to make major improvements such as fitting a new bathroom or kitchen.

The money you invest in these larger projects probably won’t be reflected in the sale price.

Time your sale well

Timing is key when it comes to the housing market, as it is constantly evolving. Certain months tend to be better for selling than others – for example, the market slows down around Christmas time due to obvious reasons.

Assess your selling options

We discussed this before, and it’s about figuring out the best way to sell your home.

The open market can be a slow process, so if you need to sell quickly, you may want to look into other options, such as Property Saviour.

Also, auctions are another alternative you may want to consider.

Alternative Sales Route (Free)

At Property Saviour, we can buy your home fast and without any agency, legal, or EPC fees. We can even clear any unwanted items from your home for free. Our cash offer process is quick and simple – we can handle everything for you and take the hassle out of the sale completely.

All we need is one viewing to make sure our offer is accurate. Plus, as we are cash buyers, you will receive the full amount in your bank once you accept.

We are members of The National Association of Property Buyers and The Property Ombudsman, and we have an excellent rating on Trustpilot with over 1000 reviews, so you can feel safe in our hands.

Give us a call or fill in our online form to receive a no-obligation cash offer. You could have the full amount in your bank without any legal or estate agent fees to pay.

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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. 
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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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