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How Much Does it Cost to Sell a House

Laura Jones
How Much Does it Cost to Sell a House

If you are looking to sell your residential property through traditional means, then the biggest fees you need to pay are for solicitors and estate agents. That being said, you still need to ensure that you budget for your final utilities bill and mortgage exit fee.

It can very easily feel like it’s all getting on top of you. To help you out, especially if this is your first time selling property, in the following post we are going to break down the different costs involved in selling a home.

Preparing for Marketing Your Home

For you to have the best chance of securing a buyer for your property, it may be worth investing in home improvements. This could be something relatively small like a deep clean from a professional company or more large-scale like a new kitchen or bathroom installation. It really depends on the aims you have with the sale and the condition of your home.

Some of the basics you will want to consider when preparing to sell your home are:

  • Thorough cleaning inside and out
  • Basic maintenance and repair work
  • Repaint damaged and tired-looking walls
  • Declutter and tidy up
  • Tidy the garden up

Whatever you decide to do when preparing your house to go on the market, you need to put yourself at the feet of potential buyers. You want to make your home look appealing to them. Which may mean getting rid of family items and making the property look more neutral.

Estate Agent Costs

The largest expenses when selling your home that you will have to pay out are estate agent fees if you choose to go down the traditional route. These are also the most important. A professional estate agent can fulfil the role of negotiator, marketer, and security for your property sale. They will provide you with a strategy for marketing your home, screen and accompany any buyers as they visit your property and help to negotiate the best prices.

Pay for Performance or Pay Now

When it comes to paying estate agents, you have two options, pay on completion, or pay now. Most commonly, pay on completion, also referred to as commission fees are used by estate agents. This means you will only need to pay them after the property sale has been completed, you have been paid by your buyer and handed the keys to them. These normally are between 1% and 3% of the sale price of your property.

Laura Jones
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