What is the Actual Cost of Selling a House?
Selling a house carries a number of different costs, all of which need to be considered when you’re planning a move. Here a few vital expenses that you must remember to factor into your budget.
Energy Performance Certificate
Anyone selling a house has to provide potential buyers with an energy performance certificate (EPC) for the property. You can expect to pay somewhere between £50 and £120 for an EPC - but they are valid for 10 years.
Estate Agent Fees
If you have sold your property through an Estate Agent, there will be the Estate Agent’s fees to pay. These are normally a percentage of the sale price, plus VAT, unless you have agreed a fixed fee with your Estate Agent.
Potential Mortgage Penalties
If you have a mortgage secured against the property being sold, you should check with your mortgage company to ensure you are not going to be subject to any early repayment penalties.
If you plan to use a removal company to help you move, you will need to obtain quotes from different removal companies. The final cost will depend on the size of your property, but you can generally expected to pay between £400 and £1,200.
You'll need to instruct a Conveyancing Solicitor to deal with all the legal aspects of selling your property. You can expect to pay anywhere between £600 and £1,500 in conveyancing fees.
In addition to conveyancing fees, you may also have to get a copy of the Title Deeds to prove that you own the property, this fee is paid to the Land Registry and costs £25. Once the property sale has completed, a Transfer of Ownership fee will be payable to the Land Registry which costs £200 - £300.
The overall cost depends on factors such as the complexity of the transaction and whether your property is freehold or leasehold.
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