Let’s talk about the costs of selling a house. Fees are usually more associated with the buyer, but that’s not to say sellers don’t need to pay for a few things here and there. Understanding what you’re up against cost-wise can help you budget effectively and keep nasty surprises at bay. With that in mind, here are all the costs involved with selling a house, and how you can reduce them to zero.
Estate agent fee
First off, we’ve got the estate agent fees. On average, you’re looking at about 1.42% (that’s including VAT), which works out to roughly £4,000 for a house worth £285,000. They don’t come cheap, although there are alternatives (more on that in a bit).
Energy performance certificate
There’s the Energy Performance Certificate (EPC) to consider. This is a necessity for anyone selling a home in the UK, and it’ll set you back somewhere between £60 and £120 if you need to renew your EPC when selling.
Conveyancing fees include all the legal aspects. They’re conducted by a solicitor and can be anywhere from £600 to £1,200. You might even end up paying even more if you’re selling a leasehold property.
You’ll also need to factor in removal costs. Depending on how big your house is and the distance you need to move, these fees could range from £350 to £2,250. The more items you need to move, the higher the removal cost.
Let’s not forget the additional costs. Depending on your situation, you might need to cover an indemnity policy, capital gains tax or even home repairs before you can sell.
Can I reduce house-selling fees?
In the world of house selling, expenses can rack up quickly. But with a little savvy thinking, you might be able to sidestep some of these costs, potentially even bringing them down to zero.
Estate agent fees: go online
Usually, estate agent fees are a substantial chunk of the cost. One way to reduce this is through online estate agents. Some offer free packages or significantly reduced fees compared to traditional high street agents, meaning you can potentially save thousands.
Just make sure you carefully assess the services included in the free package and consider the potential trade-offs. Most services are seriously stripped down, so you’ll need to pay for extras like photography and floor plans – or do them yourself.
Energy performance certificate: timing it right
Getting an Energy Performance Certificate (EPC) is necessary when selling a house, but you might get lucky and won’t need to pay for one. These certificates are valid for ten years. So if you’ve had an EPC done in the past decade, you can use it again, which effectively makes this cost zero.
Conveyancing: the DIY approach
Of all the things you probably shouldn’t do yourself when selling a house, conveyancing is right up at the top of the list. Still, if you’re really keen to avoid paying anything, it’s possible to conduct the conveyancing process yourself. Just remember that it’s complex and requires a good understanding of property law. You’ll also need to be prepared to dedicate a significant amount of time and effort to ensure everything is conducted correctly. If something goes wrong, then normally you’ll have no cover. If you use a professional conveyancer, you’ll be covered by their professional insurance.
Removal costs: call in favours
With a bit of planning and the help of friends and family, you can potentially tackle the task of removals yourself. Hiring a van for the day and rallying a willing team could see this cost significantly reduced or even eliminated altogether if you know someone with a van. It’s definitely more hard work, and remember that moving home is regarded as one of the most stressful activities a person can do. Indeed, 57% of Brits rank moving house as life’s most stressful event.
With a bit of savvy planning and a willingness to take on some tasks yourself, you can reduce or even eliminate some of the costs associated with selling a house. However, the most important thing is to ensure a smooth sale. It’s fine to do some elements yourself, but other tasks – like conveyancing – should be left to the professionals if you want the sale to go off without a hitch.
How to reduce house selling costs to £0.00
There is another way to sell your house without incurring any costs what so ever. Enter Property Rescue. We will buy any house or flat in England or Wales. We guarantee to buy your home for cash, we can do it very fast if you need, and the best part – we pay all the costs so you don’t pay a single penny.
Just need to fill out an online form or give us a call, and we’ll send you your free, no-obligation cash offer.
One of the most attractive aspects of selling with Property Rescue is that it’s a rapid process. We’re able to exchange contracts in as little as 48 hours, allowing you to move within days. Plus, we work to a timeframe that suits you, ensuring a hassle-free and seamless move in the process.
After you accept our cash offer and an independent home survey is carried out, the sale is guaranteed. You won’t have to worry about a chain collapsing or the sale falling through, which is a common concern with traditional methods of selling a house.
Property Rescue proudly operates with full transparency, promising no hidden costs. Unlike a traditional sale, you don’t have to deal with legal costs, estate agent fees or EPC costs.
Okay, we don’t literally move all your stuff out of the home with a van, but we can help source a low cost removals company for you and we can give you a cash advance to pay for it all.
The entire process is hassle-free. We handle all the complicated legalities and sidestep the usual delays associated with property sales. And we promise to buy your property, regardless of its condition. So there’s no need to spend money on any repairs or renovations before selling.