{"id":1143,"date":"2018-05-17T11:13:27","date_gmt":"2018-05-17T10:13:27","guid":{"rendered":"https:\/\/www.investate.co.uk\/blog\/?p=1143"},"modified":"2021-08-17T17:31:56","modified_gmt":"2021-08-17T16:31:56","slug":"the-cost-of-selling-a-house","status":"publish","type":"post","link":"https:\/\/www.investate.co.uk\/blog\/the-cost-of-selling-a-house\/","title":{"rendered":"The Cost Of Selling A House"},"content":{"rendered":"

Selling your home<\/a> can be a costly experience.<\/p>\n

The majority of people still use their local estate agent without even enquiring about the selling fees involved! And in the words of Les Dennis “Our survey said…” – err err!<\/p>\n

Choosing an estate agent<\/a> has the largest financial impact when selling your home, so choose wisely! There are one or two other potential costs that need to be considered when selling your home<\/a>, so read our guide below to obtain a quick overview.<\/p>\n

Estate Agent Fees<\/h2>\n

How much do estate agents charge? Unfortunately estate agent fees can vary massively. Some estate agents charge commission, which is a percentage of the sale value. For a property that sells for \u00a3250,000, based on a 1.5% commission fee it would cost you \u00a33,750 in estate agent fees. Extortionate if you ask us.<\/p>\n

Then there are flat fee online estate agents (largely known as hybrid estate agents) that do a similar job but don’t have a high street presence. They usually charge a one-off fixed fee of around \u00a31,000. This provides better value, but is still on the expensive side.<\/p>\n

Finally we have the best of both worlds; Investate is a tailor-made estate agent where you can save hundreds, if not thousands of pounds. See why you should use Investate to sell your home<\/a>, check how much you can save using our savings calculators<\/a> and keep an eye on our pricing options<\/a>.<\/p>\n

Energy Performance Certificate (EPC)<\/h2>\n

An EPC reveals just how energy efficient (or indeed not!) a property is. The rating is from A (very efficient) to G (very inefficient). An EPC is a legal requirement in England, Wales and Northern Ireland.<\/p>\n

If the property isn’t very energy efficient it may require additional expenditure to run (gas and electricity bills) or upgrade, and hence a buyer would need to factor this into their offer. The cost of an EPC typically ranges from \u00a350 to \u00a3150.<\/p>\n

Home Report (Scotland Only)<\/h2>\n

For people selling their home in Scotland, a Home Report is required and must be provided by the person selling the property<\/strong>. This report consists of a survey (detailing the condition of the home, a property valuation and an accessibility assessment), an energy report (how efficient the property is at utilising energy) and a property questionnaire (council tax band, parking facilities, alterations etc). Home reports typically cost between \u00a3500 and \u00a3700 and we’d recommend obtaining it from a qualified member of the Royal Institution of Chartered Surveyors (RICS)<\/a>.<\/p>\n

Capital Gains Tax<\/h2>\n

If you’re lucky enough to own more than one property and the property you are selling is not your primary residence, you will be required to pay a capital gains tax on the gain that you make<\/strong> upon selling your property<\/a>.<\/p>\n

The first \u00a311,100 (after selling fees such as estate agent fees and legal fees) is exempt from tax. If you’re a higher or additional rate taxpayer<\/a> you’ll pay 28% of your gain. If you’re a basic rate taxpayer<\/a> you’ll pay from 18% upwards, depending upon the size of the gain.<\/p>\n

Legal Costs<\/h2>\n

Once again you will need to pay for a conveyancing solicitor to carry out legal works. When you are selling a property you do not need to pay for any local searches or land registrations. However you may be charged for a bank transfer when receiving the funds for the sale of your property. The cost of a conveyancing solicitor can range from \u00a3300 to \u00a32,000 depending upon the size and value of the property.<\/p>\n","protected":false},"excerpt":{"rendered":"

Selling your home can be a costly experience. The majority of people still use their local estate agent without even enquiring about the selling fees involved! And in the words of Les Dennis “Our survey said…” – err err! Choosing an estate agent has the largest financial impact when selling your home, so choose wisely! […]<\/p>\n","protected":false},"author":1,"featured_media":2255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[110,108,109,130,111,107],"class_list":["post-1143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-property-news","tag-capital-gains","tag-energy-performance-certificate","tag-home-report","tag-how-much-do-estate-agents-charge","tag-legal-costs","tag-selling-a-house"],"yoast_head":"\r\nThe Cost Of Selling A House - Investate<\/title>\r\n<meta name=\"description\" content=\"Choosing an estate agent has the largest financial impact when selling your home. 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