Our Blog

How much does it cost to sell a house? Posted: 13th February 2023
img

How much does it cost to sell a house?

When it comes to selling a property there are a few things to consider surrounding the costs of putting your home on the market. These will include legal fees, administrative bills and other basic costs.

However this blog post is here to provide a quick reference point around the typical fees you will encounter during the selling process.

 

preparing your home for a property valuation

Preparing your house for sale

Firstly you will need to consider renovation costs.

To make your home more attractive to potential buyers and achieve the best sale price for your property it’s vital that it looks its best.

Whether these are small wear and tear fixes, rewiring or a fresh lick of paint, they can all make the difference – especially if it involves improving your home’s energy efficiency.

 

mortgage exit fees associated to cost of sell a house

Negotiating your current mortgage deal

Secondly you will also need to consider your current mortgage deal and contact your supplier to discuss remortgaging.

If you have a new property or spend in mind, you will apply for a mortgage agreement in principle to understand the loan amount available to you on your next deal and credit checks will then be carried out.

Once signed off you can often expect to pay an application fee (a charge to set up your new mortgage), a mortgage exit fee and/or early repayment charge (1% – 5% of remaining loan amount) at this time, but this varies between lenders.

 

improving your home's energy performance certificate epc

Home report & energy performance certificate

Part of your mortgage process will also include a home report to provide as a valuation of your current property, which legally must include an energy report which gives your home its energy performance certificate (epc).

You can expect to pay anywhere between £100 and £1,000 for this in Scotland.

 

solicitors fees during a house sale

Conveyancing fees

And of course, you will be required to hire a solicitor to deal with all the legal aspects of selling a house. From dealing with transfer of mortgage loan funds to exchanging contracts with the buyer’s legal team.

Solicitor costs will vary between £550 – £1,000, but may vary in some circumstances.

 

property marketing included in estate agent fees when selling a house

Estate agent fees

Then, when it comes to the marketing of your home to potential buyers, an estate agent will need to be hired.

They will organise photography, videos and floor plans, as well as placing your property on the relevant selling platforms and their own website.

Estate agent fees are usually paid on a % of the property sale price.

 

stamp duty included in cost of selling

land and buildings transaction tax

One of the final costs could also involve paying land and buildings transaction tax (LBTT).

This is applicable to any property over £145k and begins at 2% of the property value, with increased fees associated to anyone purchasing an additional dwelling.

 

removal costs associated to selling a house

Removal costs

And finally you will need to organise moving home and organising a removal company to transfer your belongings from your current property to your new home once the sale has completed.

 

Get in touch with us to sell your home

At Nicol Estate Agents we always provide our clients with a professional and personal service during any house sale, taking the stress out of the whole process. However we don’t think that selling a house should break the bank, you want to make the most of the money earned from the sale, that is why our services are priced fairly.

Contact our sales team today to discuss your property by phoning 0141 616 3960 or email [email protected]


Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.