With ever-changing house prices often hogging the headlines when it comes to property news, it can be difficult for sellers to find out and understand exactly how much it is going to cost to part with and sell their property.
Keystones Property’s estate agents in Chadwell Heath, guarantee complete transparency when it comes to selling – especially with regards to the fees that you are contracted to pay. But what do those payments look like, what fees do you need to budget for, and what is the real cost of selling a property in the UK in 2023?
Selling Costs Vs. Moving Costs
Before we get into the nitty-gritty of what it costs to sell a property in the UK, it’s important to note the difference between the cost of selling and the cost of moving. Many guides and articles on the internet cite the overall cost of selling a house as rising into the tens of thousands; however, almost all of these factors the cost of moving into that figure.
As such, understanding the breakdown of different fees and costs is crucial when creating a realistic budget and projected spend for your own property sale – whether or not that includes moving, how far you’re moving, and the type of property you’re moving to.
The Seller Fees You Need To Be Aware Of
The number one fee that is linked with selling a property is the estate agent fees, which is why it’s so important to partner with and choose an agent that operates 100% transparency about their fee structure.
By acting on your behalf, facilitating viewings, marketing the property, and ultimately carrying the sale through to completion, the estate agent you choose plays a major part in the success of the sale as a whole – with some charging flat rates while others charge a percentage of the overall sale price for the property.
Here at Keystones Property, we offer various packages depending on the type of property you are selling, the ideal timeline around selling, and the existing market conditions – with every client benefiting from a tailored quote upon request and consultation. This quote is always inclusive of all fees, with no hidden costs thrown at you during the sale process.
Aside from estate agent fees, other costs that you need to be aware of when it comes to selling property include:
- Conveyancing fees – fees paid to a solicitor who helps to handle the legalities of the sale and any contractual obligations in terms of the mortgage.
- Energy performance certificate – a compulsory order before your property can be listed, which provides information about how energy efficient the property is.
We also recommend a little additional budget for upgrades to prepare your property for sale, any mortgage exit fees on your existing property, and the removal costs we mentioned earlier.