How much does it cost to sell your home?

How much does it cost to sell your home in the UK?

Selling your home comes with a few price tags, so even if you’re planning to make money from the move, it’s a good idea to take note of the common costs and plan to budget accordingly.

While it isn’t possible to outline the exact figures here, as these will be unique to your sale plus change over time with the market, we can help you to be aware of what to expect.

See our guide to selling your property from finding an agent to those all-important exchange and completion dates.

What are typical estate agent fees in the UK?

The average UK high street estate agency commission fee for a ‘no sale, no fee’ sole agency service can vary depending on where you are in the UK.

Sole agency means that you can only list your house with one estate agent, but it is possible to go with more than one. This is called a multi-agency listing and is more expensive. It can work out as costing almost twice as much as a sole agency agreement, but as you are increasing your chances of selling your property at a good price, estate agents charge more for this service. Estate agents are also not guaranteed to win the commission from the sale in a multi-agency agreement.

For a property expected to sell for £250,000, for example, you should be paying around £3,000-£3,500 in estate agents fees in a sole agency agreement.

At haart we use a unique technology to get your property seen by the right kind of buyers. Learn more about FLINK here. Choosing the right agent is vital to a smooth sale, so make sure you’re happy with your final choice and your fee.

Can you negotiate estate agent fees?

Yes, it is possible to negotiate with estate agents over the level of their fee. They will usually quote at the top of their price range. When you book a valuation with an estate agent, you should ask them to provide a commission quote. Ideally you should get 3 or 4 valuations, and this will give you an idea of a range of different fees. If you have a preference for a particular estate agent, use the lowest quote you receive as a bargaining tool – try to get the agent to match or get close to this fee.

An estate agent may also be prepared to lower a previous commission quote if your property is not selling, or has reduced in price since it first went on the market.

Are there any hidden costs when selling a house?

You may have to pay for minor repairs that come to light as you prepare to put the property on the market, or to give it a more neutral look. You also might consider using a staging service to make the property as attractive as possible during viewings.

If you’re selling a second home or a property you previously let to a tenant, remember that you’ll be responsible for all the running costs while you try to sell it – such as utility bills and council tax.

Solicitor and conveyancer fees

Your estate agent may recommend a conveyancing solicitor they prefer to work with, but don’t be afraid to shop around. Their fees for handling the sale of a property can range from £850 - £2000, with the cheapest likely to be online conveyancing services. There will be some extra charges if you live in a leasehold property, and don’t be fooled by low quoted fees – expect to see an initial low quote increase with separate charges for searches, bank and land registry fees.

You usually get what you pay for, so be prepared to spend a bit more on your solicitor. Get recommendations from friends and family on good local solicitors.

Mortgage fees when selling

There are two possible mortgage-related charges you could face:

Mortgage exit fees

Some lenders charge mortgage exit fees. These can be from £50 up to £300, but are usually nominal charges. These charges might also be called ‘repayment administration fee’ or ‘closing administration fee’. This is a lender’s admin charge for closing the file on your mortgage. It is a charge made when your mortgage balance is cleared, but not all lenders have it, so check before you decide to sell.

If you’re moving house, but not clearing your mortgage or changing lenders, you shouldn’t have to worry about mortgage fees.

Early repayment charges (ERC’s or redemption fee)

Paying off your mortgage before your fixed rate deal has ended, or moving to a different lender, usually comes with a fee attached. Early repayment or redemption charges are around 1% – 5% of the loan’s amount, and usually reduce as your deal comes nearer to ending. Check with your lender to see if a redemption charge is payable, especially if it wasn’t made clear (or you missed it) in your original mortgage offer.

Energy Performance Certificate (EPC)

An EPC is a way of showing how energy efficient a property is. Each has an EPC rating from A, the most efficient, to G, the least efficient. The rating lets you know how costly it is to both warm-up and cool down your home. An EPC also tells you what rating you could achieve by making recommended improvements and alterations to the property. Before you can sell, you have to have an up-to-date EPC certificate, which costs around £60 – £120 depending on the provider.

EPCs are valid for 10 years, so your property may already have one. You can check whether your EPC is still valid using Gov.uk.

Removal and moving costs

The cost of hiring a removals company will vary, depending on a number of factors:

• The size of your property
• The distance to the property you are moving to
• Accessibility issues
• Any special, large or fragile items that require extreme care or a specialist service
• Whether you will require storage for any items
• Whether you are packing the items yourself, or asking the removal company to do this for you

If you are moving from a 1-bedroom flat, you might expect to pay as little as £400 if you are packing up the items, but for 3 or 4 bedroom properties, the removals cost could rise to over £2,000 or more.

If you decide to do a lot of the moving yourself, you still have to think about:

• The cost of hiring a van, including fuel
• Paying for ‘goods in transit’ insurance
• Suitable packing materials

Other costs to consider when selling your home

As well as these main cost considerations, make sure you’re on top of your household building and/or contents insurance. For example, will your policy cover the cost of damage to your possessions during the move? Check your policy, or take out extra cover. Some removal companies include removals insurance in their fee, or will provide a quote.

How to budget when selling your home

Here’s an at a glance summary of the costs involved in selling a house:

Everyone’s costs will be different, and some of those above won’t affect you. Some, however, are non-negotiable. You will have to pay estate agents, solicitors and removal companies, and you should budget accordingly. Even on an average property sale, this can easily be a figure in the region of £6,000 or more.

Thinking about selling? Find out how much your home could be worth

If you’re looking to move, let us help you get it done quickly and with minimal stress. Find your local haart branch and arrange a valuation. See how we can put our expert local knowledge to work for you.