House sellers are often unaware of what is the cost of selling a house. If you want to sell a house quickly it’s useful to do some research at the start so you know what you’ll be expected to pay and therefore what sort of budget you might be left with for your onward move.
What is the cost of selling a house and are there any hidden costs?
When you want to sell a house there are several things you’ll need to consider.
Estate agency cost of selling a house
Estate agents are likely to be your biggest cost when you choose to sell a house. High street estate agents are likely to have the best local knowledge and a database of potential buyers that they can target with your property, but you’re looking at fees of between 1% and 3.5% of the agreed sale price.
On a property that costs the UK average of £288,000 you’ll be likely to pay anything from £2,880 to £10,080 in estate agency fees.
Online estate agencies can work out considerably more affordable – fixed fee services are available for around £800, but beware, some online estate agents charge extra for services such as floorplans, photographs and accompanied viewings, so the cost can quickly add up if these services aren’t included in the fee you agree at the start.
Legal fee cost of selling a house
How much you have to pay in legal fees to sell a house can vary, depending on whether the solicitor you choose to use offers a fixed fee service or charges a percentage of the agreed sale price.
If they charge a percentage, rather than a fixed fee, you’re likely to be looking at fees of around 0.5% of the final sales price for the average UK house price of £288,000 you’d be looking at a bill of £1,440, but fixed fee arrangements are often cheaper.
You should budget between £500 and £1,500 for legal fees but ensure you receive a thorough quote before you instruct a solicitor.
Energy performance certificate (EPC) costs of selling a house
Each property that is going to be bought or sold must have an Energy Performance Certificate (EPC) showing how energy efficient the property is and steps that could be taken to improve the property’s energy performance. These can be arranged through your estate agent or privately and costs between £60 and £120.
Selling a house doesn’t just cost you financially, it also takes up a considerable amount of your time. It currently takes an average of 116 days to sell a property on the open market in England and Wales – that’s nearly four months – and that average jumps as high as 235 days in Anglesey!
If you’d rather not spend four months, or longer, with your home on the market, there is an alternative.
Quick Move Now is the UK’s largest, professional home buying company. We can buy your property directly, with our own cash funds, and have the money in your account in as little as 7 days.
What’s more, Quick Move Now will cover the cost of your legal fees and EPC, and because we buy your property directly you’ll have no estate agency fees to pay either.
If you’d like to find out more about how Quick Move Now could help you secure a quick house sale, call our friendly, professional team now on:0800 068 3366.