If you’re thinking of selling your house or flat, then whether you’re selling for the first time or you’re an old pro, the costs of selling a house can easily get on top of you and out of control. Here you’ll find a comprehensive selling house costs guide, so you can plan for them, and keep them within budget.
Estate Agent Fees
There are three ways of selling a home. You can use an estate agent, you can do it yourself, and you can sell your home through an auction. If you decide to use an estate agent, then you have two options available to you; high street estate agents and online estate agents.
A high street agent will charge fees, but the type of contract that you have will affect the percentage of the selling price that they take. It can vary from under 1% to 3.5%, depending on how many agents are involved in the sale.
For ‘sole agency’ and ‘sole selling’, where you give one agent exclusive rights to sell your home, fees will typically be between 1-2%. If you appoint more than one agent to sell your home, i.e. on a multiple-agency basis, then you’re looking at percentages of 2-3.5%.
It’s also worth remembering that many agents will quote their fees without VAT, so you may have to pay an extra 20% on top.
Online estate agents on the other hand work a bit differently to traditional high street estate agent. Although both offer very similar levels of service, such as house valuation, marketing, negotiating on your behalf and liaising with your conveyancer; they will usually only charge you a flat fee, which means that they are often much cheaper than high street agents. Here at House Network, we offer a basic package with various add-ons which could save you thousands compared to going with a local estate agent.
To compare, if you sold a property for £250,000 with a high street agency that charged a 1.8% fee, then you’d pay £5,400 in fees. In comparison, House Network would charge you an upfront fee of £775, and we would make no commission on the sale, which means that we could save you £4,625.
Conveyancing is the legal part of selling your home – changing the ownership from you, the seller, to your buyer. This part starts when you accept an offer and ends when you hand over the keys.
A conveyancer will either charge you a flat fee or a percentage of the value of the property. You should expect to pay between £500 and £1,500, and it will depend on the cost of the property and how complex the transaction is. Always check what the fee covers so you know what to expect.
A ‘no sale, no fee’ conveyancer will have an incentive to get the job done quickly, and these types of conveyancing firms may also offer ‘fixed-fee’ conveyancing, which can help to keep costs down.
At House Network, we have our own in-house legal team offering services at affordable prices. Find out more here.
Energy Performance Certificates, or EPCs, is a certificate that you have to provide for your property. It gives information about the energy efficiency of a property from A to G, with A being the most efficient, G being the least.
The certification process is conducted by accredited domestic energy assessors, and you usually arrange this through your estate agent. You can expect to pay between £50 and £120 for one, but with House Network, you get one as standard for free.
It’s important to factor removals into the costs of selling your house as it can be a significant sum, depending on the size of your home and the distance travelled.
For a five bedroom house the cost may exceed £1,200, plus packing costs.
Get three to five different quotes from removals companies, and try to get them to scope out your property, rather than give you a quote over the phone. Things like tight stairways or access issues may affect the difficulty of the job.
Here at House Network, we’re committed to your customer service and keeping selling a house costs crystal clear.