As independent West Sussex estate agents, people often ask us; How much does it cost to sell a house? So, in this article, we thought we would set out a list of costs you can expect as the vendor. However, we’ve also included some moving expenses. We’ve done this because people always expect to pay agents’ and solicitors’ fees but can sometimes overlook the cost of relocation and mortgage fees, which are essential to include in your overall budget. Read on for all the details.
Generally, estate agents charge between 1% and 3% for selling your house. But it’s always worth checking with your agent what marketing costs they include in their fees. At Penfolds, we cover all photography costs, but not every agent does.
We are happy to discuss our fees with you when we first meet, as we know how important it is to be upfront about what is likely to be one of your more significant costs when selling your home. We believe our rates are competitive and that we’re worth the fees we charge. That’s because with estate agent fees it all boils down to the value of the services you receive. And, at Penfolds we do things slightly differently from many of the High Street agencies. You (and your potential buyers) will only ever deal with Becky or Helen, who conduct every viewing and answer all calls and questions personally. But don’t listen to us, here’s what our customers say;
“We could not have chosen a better estate agent – Penfolds have been absolutely amazing – nothing was too much trouble. Becky was always attentive and there to hold our hand, making sure the people around us did what they were supposed to do. Penfolds aren’t your usual estate agent – they are special and you will not regret choosing them.” – Mr S, Wisborough Green
Since December 2021, we have achieved or exceeded our seller’s asking prices in 99.5% of sales.
If you’re looking at the cost to sell a house, you may have explored online estate agents who tend to offer a fixed fee. It’s also likely that their rates will be lower than most independent or High Street estate agents because you will be doing most of the legwork (viewings and negotiations) yourself.
Do also consider whether an agent offering a fixed fee will be fully motivated to get the best price for your property. And finally, remember that an online estate agent will expect their fees to be paid upfront. At Penfolds, and in most cases, our fees are generally deducted from your house sale’s proceeds by your solicitor.
As part of your house sale, good legal representation is essential, so ensure the solicitor’s office you contact has experienced conveyancers. Fees will depend on the value of your property and whether it is Freehold or Leasehold. Most solicitors will base their costs on your sale being a standard transaction with no unforeseen matters arising. For properties up to £750,000, you can expect to pay up to £1500 (plus VAT) for legal representation.
However, you will also need to consider disbursement fees in your budget. These are costs that your conveyancer pays on your behalf for third party services such as Land Registry fees and Bank Transfer fees. Solicitors will also carry out anti-money-laundering checks and will charge for this service. In the grand scheme, disbursements and other charges are minimal, costing tens of pounds rather than hundreds.
Anybody wishing to sell must have an Energy Performance Certificate (EPC) by law. These cost between £35 and £120 depending on several factors, including the type of property and the number of bedrooms. You can find out more about EPC certificates on the Government website.
An EPC certificate is valid for ten years. So, if you have bought your home within this timeframe, you may already have an EPC certificate.
At Penfolds, we cover the cost of your EPC within our fees, so it’s one less thing for you to worry about.
You may wish to repay your mortgage from the proceeds of your sale. You can also transfer a current mortgage from the property you’re selling to the one you’re buying. This action is called porting a mortgage. Or, you may also wish to remortgage completely.
All these actions will have associated costs and depend on your lender and the terms of your mortgage. So, it’s difficult for us to be specific about these fees, other than to say you should be aware of them.
This cost only becomes a liability if you profit from the sale of a house that is not your primary residence where you live.
While the above list covers most of the fees associated with the cost to sell a home in West Sussex, there are other items to consider in your budget.
Preparing your House for Sale: While no homeowner wants to conduct major renovations before selling, it makes sense to include a contingency budget for a quick wash and brush up! So, tucking £500 to £1000 behind your ear for a handyman or painter to come in could be money well spent! Most of us learn to live with the broken cupboard door or the scuffs on a skirting board. But it can be these minor imperfections that will stand out for a potential buyer.
Removal Company Costs: These can vary depending on the type of service. Find out more in this article from the archives. Associated fees will also vary depending on your house size and where you are moving to. Ideally, consider quotes from at least three reputable companies.
Storage Fees: If you’re not moving into a new home straight away, you may need to consider storage for your belongings. Your removals company may be able to help with this.
Now you know more about the cost to sell a house in West Sussex are you ready to find out how much your home is worth. Contact us to request a valuation.
