The cost of selling a property
The cost of selling a house in 2023
Estate agent fees are one of the main costs when selling a house — and they can cost you thousands. Usually, their fees are worked out as a percentage of the purchase price. This typically ranges from 1% to 3% of the sale price, plus VAT. We do things a little differently — well, a lot differently. We'll sell your home and you let you choose optional extras along the way if you want them. In other words, you only pay for the services you actually want to use.
The costs of selling a house in the UK can vary depending on several factors, but some of the most common include:
1. To Explain Our Fees
Estate agent fees are one of the main costs when selling a house. Most UK sellers work with an estate agent to sell their property. The fee for this service typically ranges from 1% to 3% of the sale price, plus VAT. Use our estate agent fee checker to see how much it will cost you, and how much you could save with Purplebricks.
2. Conveyancing fees
A conveyancer or solicitor will handle the legal aspects of the sale, including transferring ownership of the property. Conveyancing fees typically range from £500 to £1,500, depending on the complexity of the transaction. Both can provide valuable advice and guidance throughout the selling process, which can help you avoid costly mistakes or legal issues down the line.
3. Energy Performance Certificate (EPC)
You’re legally required to have an Energy Performance Certificate in place before listing your property for sale. The cost of an EPC can range from £50 to £120.
4. Capital Gains Tax
If the property is not your primary residence, you may have to pay Capital Gains Tax on any profit you make from the sale. However, there is typically an exemption for primary residences. Not only is Capital Gains Tax important to consider, but there are other taxes to factor in when selling a house. You can read more about the taxes you might need to pay when selling a house.
Property sales come with mandatory fees, but there are also additional costs to consider. From home improvements to maintenance fixes and moving costs, below are some of the common things to budget for when selling your house.
1. Preparing your property for sale
In some cases, you may need to make repairs or upgrades to attract buyers and achieve the best possible sale price. Preparing your home for sale can also come with fees, including cleaning costs, decluttering and redecorating.
2. Removal costs
The cost of moving your stuff from your existing house to your new one is known as removal fees. These can vary depending on various factors such as:
You can read more about how to sell your home.
3. Unexpected fees
Unfortunately, unexpected fees may come up, such as fixing property damage, dealing with legal difficulties and utility closing costs if you’re exiting your contracts early. These fees can mount up fast and are often difficult to estimate, but it's critical to try to include them in your overall budget plan when selling your house.
4. Mortgage fees and advice
Got an outstanding mortgage on the property? Find out about any early repayment charges or other fees associated with paying off the mortgage early. If you plan to buy a new house after selling your current one, get advice to make sure you have the best possible mortgage deal in place. Factoring in the cost of mortgage advice can help you manage the selling process more effectively and avoid any unexpected fees or charges.
What are the average costs of selling a house?The average cost of selling a house in the UK can vary greatly depending on many factors, such as the property's location, condition, and the selling method.
You'll need to consider mandatory fees such as mortgage advice, solicitor fees, and energy certificates, as well as the cost of any necessary repairs or renovations before listing the property for sale. It's essential to budget for these costs to make sure the selling process is as seamless and stress-free as possible.
Do you get charged for selling your house?Yes, there are costs associated with selling a house in the UK. At Purple Bricks we don't charge commission, or a flat fee. Our estate agency fees are 0 — we just think that's a fairer way to sell your home.
Additionally, there will usually be legal and conveyancing costs, including a solicitor's fee for handling the legal aspects of the sale.
Who pays the transfer fees when selling a house?In the UK, transfer fees are paid by the buyer of the property. These fees, also known as Stamp Duty Land Tax (SDLT), are calculated based on the property’s purchase price. These will be organised by your solicitor, estate agent or conveyancer and paid to HM Revenue and Customs (HMRC).
Do I pay Stamp Duty Land Tax when selling a house?No, it’s only the buyer who pays Stamp Duty Land Tax. If you plan to buy a property, use the GOV.UK stamp duty calculator to estimate the costs.
How to calculate the fees of selling a house?Calculating the fees associated with selling a house in the UK can be complex. To get a clear idea of the costs, put together a spreadsheet of your predicted costs to get a realistic overview of what you need to spend. To get a better estimate of the fees associated with selling your house, we also recommend speaking to one of our local experts.
Thinking about selling your property?As the UK’s leading estate agent, our expertise makes us the perfect partner for selling properties.
Want to find out how much your house is worth? Book a free house valuation or sell your home today.