If you’re selling your home, you’ll have a few different costs to consider. From estate agency fees to conveyancing costs, you can make a variety of choices that will save you money.
Here’s our breakdown of the different costs you may face, and how to get the best deal.
Estate agency costs
When it comes to estate agency fees, it really does depend on the type of package you choose.
If you go with a traditional high street estate agent, they will take a
commission based on the sale price of the property. You won’t pay anything if your property doesn’t sell. The percentage is around 1% but can go up to 3%, so be sure to negotiate a fee in advance.
The advantage of using a traditional estate agent is that there are no upfront fees, they’ll pay for the property to be listed on portals and they’ll arrange and host the viewings for you.
Can you save money using an online estate agent?
Online estate agents are much closer to doing it yourself – you often pay upfront for a package deal that includes online listing and an organisational tool to book in viewings, but they can also go all the way up to offering the same deal as traditional agents.
Be sure to read reviews when choosing a service – with online estate agents you will have to pay whether you’ve sold your home or not, and it’s often a lot more work for you.
For those who are happy to do more to get a cheaper deal, it can work, but estate agents do a lot more than just putting the property online. They can be a great go between for you and your buyer, and you do miss out on that with an online package.
Both offer advantages and disadvantages, but the price is significantly lower using online estate agents, because you get a more limited service.
You can make this easy on yourself by comparing estate agency fees and packages on
netanagent, to make sure you get the best deal.
Mortgage costs
Check what rate your mortgage is part of, and if it’s moveable. If you’ve finished your set offer and are on SVR (standard variable rate) then you should have no issues. If your mortgage is not portable, you may find you have fees to pay.
If
remortgaging is possible, you may manage to save money, but take the fees into account.
Early repayment charge
If you want to pay your mortgage off early or make an overpayment, then you might have to pay your mortgage provider an early repayment charge.
The amount you will have to pay varies so it is important to check what your mortgage agreement says about
early repayment.
Mortgage exit fees
You may be subject to mortgage exit fees if you want to change to a different mortgage before your fixed rate period ends in your current mortgage.
Talk to your lender as soon as you start thinking about selling to get more information.
EPC
EPCs last for 10 years, so be sure to check when yours was last done, and
arrange for a new EPC if necessary. An EPC
costs between £60-£120 and they are a legal requirement when you sell a property.
An EPC will tell you how energy efficient your home is, which will let your buyer know about possible bills or places to improve. You can also use your EPC as a way of improving your home, and then get another EPC after the changes have been made.
Have a look at our article on
how to get an EPC certificate.
Solicitor fees
Selling fees for conveyancing can vary widely, depending on location and house size. If you are buying and selling at the same time, it makes sense to put those prices together, so your conveyancing solicitor is dealing with the whole transaction.
However, if you’re only selling, or you want to do the transaction separately, it’s worth considering what your fees as a seller might be.
Conveyancing fees for selling
According to our data, the
average conveyancing cost for a seller on reallymoving is around £764, but that may be lower than the national average.
Traditionally, the buyer shoulders a bigger conveyancing cost because their costs include a variety of searches.
As the seller, the main task of your solicitor is ensuring that the sale proceeds appropriately, that you clarify what is included in the sale and transferring the money and the name on the deeds.
Try our
moving cost calculator to get a better idea of your conveyancing costs.
Removals costs
Your removals costs will depend on how much you have to move, and whether you need to pay for storage. If you’ve been living in your current home for a while, it may
be time for a clear out. Having fewer possessions to move will significantly cut down on your removals costs.
On top of that, making sure your removals team does a valuation in advance, so they can see how much stuff you have, and disassembling all your own furniture will cut costs further.
If you’d like to know more about
what removals can usually cost, or
how to pick a great removals firm, have a look at our guides.
In Scotland
If you’re selling in Scotland, the system is slightly different. You will require an up to date
Home Report before you put your home on the market. These are done by surveyors, and you can
compare prices of Home Reports to make sure you get the best deal.
When you sell your property in Scotland, the contractual element will happen much earlier on than in England and Wales. Your buyer will make a conditional offer, and you can return with a counter offer if you wish.
These letters of negotiation are called ‘missives’ and when you and the buyer agree, a contract is confirmed. For further information about all the stages of selling, have a look at our
conveyancing in Scotland article.
Extra costs you might have forgotten
There are always costs that get forgotten for services that can make the process easier. For example, using the
Royal Mail redirection service to forward all of your post for a few months will ensure nothing goes missing during the move.
If you require babysitters or pet sitters for the day of your move, if you can’t move immediately into your new property and require storage for your items, or you need to book an overnight hotel, extra costs will add up. Be mindful and try to plan out what you’ll need in advance.
Be sure to have a look at our
moving home checklist to keep yourself on track.
Profit when selling a house
If you sell your home for more than you bought it for you could be looking at making a profit.
You will need to consider all the costs of selling your home as well as any remaining mortgage that will need to be paid off. This will be taken from the amount you get for selling your house and can affect your profit.
Do I need to pay Capital Gains Tax?
If the property you sell is not your main home, then you might have to pay
Capital Gains Tax on any profit that you make.
If you work out that your gain is more than your yearly tax-free allowance, then you will have to pay tax on the profit.
There are different rules for paying Capital Gains Tax if:
- You are selling your only home (Private Residence Relief)
- You live abroad
- You are a company registered abroad
Example of costs
Based on selling a 2-bedroom house, worth £350,000, where you were moving 15 miles away, the costs would be:
Estate Agent fees (1%) – £3,500
Conveyancing (selling) – £764
Removals - £628
EPC - £60
The cost of selling a house FAQs
Do I pay stamp duty when selling a house?
No, it is the responsibility of the buyer to pay stamp duty, not the seller.
Who pays for searches when selling a house in the UK?
The buyer of the property will pay for searches as part of their conveyancing fees.
How long are you liable after selling a house in the UK?
Usually, you are liable for up to 6 years after selling a house if an undisclosed issue is raised by the buyer. It is important to disclose any problems with the property before to avoid any claims.
Do I need a solicitor to sell my house?
Although it is not a legal requirement to use a solicitor or conveyancer when you sell your property, it is highly recommended that you do. The selling process is complex and lengthy – solicitors and conveyancers are there to make sure it all goes smoothly.
Updated April 2024