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When To Sell | Table of Contents | Who Will Sell Your Home |  |
You should have a rough estimate of how much the whole selling process will cost you. This helps you to adjust your financial priorities and prevents you from unpleasant surprises when the bills start coming in. Please keep in mind that these are only guidelines for estimates - how much you end up spending always depends on your individual circumstances.
Costs of preparing your house for sale
It is eventually up to you how much you want to spend on getting your house ready for sale. If you are a DIY expert with all the necessary materials to hand, you can end up spending very little money and a lot of time on repairs and refurbishment. If you are not, however, you will have to pay someone to do it for you. Make a list of things that have to be done and get quotes!
Selling fees
These costs depend on how you decide to sell your house.
- Estate Agent fees: Agents normally charge
a percentage-based commission -
usually 2-3%. This means that the higher the sale price of your home, the more money the Agent will earn. - Auction fees: Usually amount to 2% of the selling price. Check whether you will be charged separately for advertising and cataloguing. Keep in mind that you will have to pay the latter even if your house is not sold.
- Private sale: You will usually incur some costs for marketing and advertising. The advantage is that these are one-off costs unrelated to your property's sale price, so clear budgeting is easier.
Conveyancing
Unless you are a legal expert with strong nerves, you will have to hire a solicitor for the legal and administrative aspects of the sale. Although your expenditure will be lower than when you buy a house, solicitors will still charge you according to the price band your property is in. This can amount to anything between £250 and £500. |
When To Sell | Table of Contents | Who Will Sell Your Home | |
