There are a number of different costs associated with selling a house, many of which you may not be aware of if you haven’t sold a property before. Before you embark on the upheaval of selling your home, make sure that you’re aware of the true cost of selling your home, and how to reduce them, so you can consider whether you can really afford it.
Many of the costs will vary according to the property being sold and where it is located, which means that you should do your own research into the costs before you decide to sell.
Estate Agent Fees
Many people choose an estate agent to sell their home. It is one of the easiest ways to sell a property, as going it alone is time consuming and highly stressful if you don’t know what you’re doing.
Charges range wildly, and if you’re in London, you’re likely to be looking at 2% of the final sale price, whilst in the north it could be as low as 0.9%. However, if you’re looking to save money and not pay an extortionate amount, you can save money by using an online estate agent.
An EPC is a requirement for anyone selling a house. It is an Energy Performance Certificate which tells any potential buyer how energy efficient a property is. From A to G, it rates the performance, with ‘A’ being the most efficient and ‘G’ is the least efficient.
You have to have an accredited domestic energy assessor conduct the survey, but your estate agent can organize this for you. However, you may be able to do it cheaper if you organize it yourself. You can pay anything between £50 and £120 for an EPC.
The legal side of selling your property requires a solicitor or licensed conveyancer. Depending on who you find, you may be charged a flat fee, or a percentage of the value of the property. The fee will also depend on how complex the transaction is.
Make sure that you don’t just go with the conveyancer that your estate agent puts in front of you, instead do your research and get quotes and prices from a number of different ones (at least three). That way, you can make your own informed decision. However, don’t assume that the cheapest will be the best, and be sure to balance good service with good value.