We Buy Any House: The 2024 Ultimate Seller’s Guide To Avoid The Tricks, Traps & Scams In The House Buying Company Industry.

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Picture the scene; you're all set to sell your home. You've got the removal team on speed dial and you’ve got a sale figure in mind; the one the estate agent said your property could probably fetch on a sunny afternoon with the right buyer.

But hold on a second…

Have you considered the actual cost of selling your house? You see, it's not just about the price tag; it's about what you get to keep after the fees have been paid and everything has been completed.

Hi there, I'm Dan Green, your guide to the nitty-gritty of house selling. And if you’ve read my other articles, you’ll know that I’m all about giving you facts to help you with your house sale. Join me as we unravel the true cost of selling your home, to make sure that you’re not caught off guard by unexpected fees.

So if you’re sat there thinking ‘how much does it cost to sell a house?’, then this article is for you. Grab a cuppa (and maybe a biscuit or two) and let’s get started…

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The basics of house selling costs

Ok, let's kick things off with the basics, shall we? There are a number of costs that you’ll need to keep on your radar and I’ll go through them now…

Estate agent fees

This is the big one, if you’re selling on the open market. When you talk to the average person in the street about the cost to sell a house, this is the one that most people will think about first.

Now, every estate agent is going to be different, and their fees could depend on your location and the type of service you choose. The majority of agents will charge you a percentage of the final sale price, which will need to be paid when your property is sold.

For a sole agency contract – when one estate agent markets your home – you should work on the agent taking between 0.75% to 3% plus VAT of the sale price. To help you understand just how much that is, here’s a little bit of maths for you; on a £200,000 house sale, that's anything from £1,500 plus VAT to £6,000 plus VAT. However, it’s not uncommon for some home sellers to be asked to pay up to 3.5% in commission. For that £200,000 house sale, that means the agent is taking £7,000 plus VAT. Here’s a table to summarise those figures:

0.75% of £200,000 £1,500
1% of £200,000 £2,000
1.5% of £200,000 £3,000
2% of £200,000 £4,000
2.5% of £200,000 £5,000
3% of £200,000 £6,000
3.5% of £200,000 £7,000

With a multi-agency contract, you can use as many agencies as you like. You’ll only pay commission to the one who sells your home, but the average fee for a multi-agency contract is usually around 3%.

But it’s not quite as straightforward as choosing the estate agent with the lowest fee. Why? Well, a low fee might mean less time spent on marketing your home, and less time negotiating offers for you or having those all-important chats with buyers. That can mean you’re on the market for a long time, waiting for your home to sell. That’s far from ideal.

Meanwhile, a more expensive agent might be more familiar with the market and have a dedicated marketing team, but are you actually getting good value for money? What you need to do is research by comparing the options, speaking to different estate agents, and reading online reviews to find out if other people speak highly of the agent you’ve shortlisted. The website ‘allAgents’ is a great place to start. Reviews that mention the cost to sell a house will really help you to determine which one gives you the best value for money.

There are local agents and national ones and they’ll have their own fee structure, so you’ll need to weigh up the costs against what’s included.

For example, do they operate on a ‘no sale, no fee’ basis, or do you have to pay even if your house isn’t sold? If it’s the latter, then the ‘how much to sell a house?’ question gets even more complicated to answer. Some online agents charge an upfront fee to list and market your property, whether or not you achieve a sale. Ask them and find out. And whilst you’re asking questions, don’t forget VAT.

Ah, yes, VAT. That’s a cost that can’t be overlooked, and it’s one I mentioned earlier. VAT will usually be included in the fee quoted by an estate agent, but it’s best to check so that you don’t have a nasty surprise later.

Now, some estate agents might offer you a flat rate fee instead of a percentage fee. These are usually offered by online estate agents that charge upfront fees, rather than an agent you’ll find on the high street. Whilst a fixed rate might seem like a good way to save money, make sure you know exactly what you’re getting before you sign up. After all, you’re paying a commission, so you want to know what you’re paying for. Remember though, you won’t have to pay any estate agency fees if you use a cash buying company.

Marketing and advertising fees

I love to see high-quality photos when I’m looking at properties. Photos from different angles give me a really good idea of what I can expect to see when I’m there. And it’s the photography, floor plans and even video tours that can make all the difference when it comes to attracting buyers. Some estate agents will bundle the costs of these into their fee, while others might charge for them separately.

And let’s not forget that as well as the photos, an accurate description of your home will get the attention of the right buyer. But is a description included in the fee, or will you have to write it yourself? As ever, do check what you’re getting for your money and find out where your home will be advertised.

Also, you’ll need to ask the agent if they use Rightmove, Zoopla and other popular portals to help you to get a sale. Some agents may also offer to feature your property at the top of search results for more exposure, but this can come with an extra cost.

Oh, and don’t forget the offline marketing costs, too. This will include things like a ‘for sale’ sign outside your house, adverts in brochures or local newspapers, and leaflets about your home. Of course, these are all expenses that you won’t incur if you use a cash buying company.

Conveyancing fees

In short, conveyancing fees cover the amount you’ll pay to make sure the legal side of a house sale or purchase is handled correctly.

Conveyancing fees can be split into two parts. There’s the legal fees; what the conveyancer or solicitor charges for doing the work. Then there’s the so-called ‘disbursements’. This is what third parties charge for home selling services like searches. Some conveyancing fees only apply to sellers, while some only need to be paid by buyers.

According to research by comparison site Reallymoving, average conveyancing fees can cost around £2,000, although fees are usually linked directly to the value of a property.

The legal portion of the conveyancing fees bill covers the work done by the conveyancing solicitor themselves. The amount varies due to factors including:

  • Where the conveyancer is based
  • If you’re using a solicitor or a licensed conveyancer
  • If you’re using an online conveyancer
  • The price of the property
  • Whether the property is leasehold or freehold

If you're selling a leasehold property, there is usually an additional charge of between £100 to £300 for the extra amount of legal work involved. Remember though, you won’t have these fees when you use a cash buying company.

Ok, earlier, I mentioned disbursements, so what are the main disbursements? Well, there’s the title deeds for starters. Then there’s transferring ownership. You’ll have to pay the Land Registry a fee for transferring your name with your buyer’s name on completion. The cost of transferring ownership is usually £200 to £300.

Mortgage and loan settlement costs

If you're waving goodbye to your mortgage before its term ends, you might face an early repayment charge. This could be a percentage of your remaining loan, as well as a painful mortgage exit fee.

However, most mortgages are what’s called ‘portable’, meaning that you can transfer or 'port' them from the property that you originally borrowed against to the home you're moving into. Now, porting your mortgage is relatively simple if you plan to move to a similarly priced or cheaper property. You'll just need to pay for a valuation and then undergo an affordability check. But if you're moving to a more expensive property, you'll probably need to borrow extra cash which can make porting a mortgage more difficult and costly.

However, moving house is a great opportunity to see if you can save money by remortgaging. This could be a savvy move if you've come to the end of an introductory rate and are now paying a higher standard variable rate. A mortgage broker can help you understand what deals are available to you and calculate whether the cost of remortgaging is worth it.

Energy performance certificate

An energy performance certificate, or EPC, is a certificate that shows how energy-efficient your property is. Think of it like a school report for your house because it ranges from ‘could do better’ to ‘top of the class’. An EPC is valid for 10 years and includes estimated energy costs, as well as a summary of your home’s energy performance-related features. If you need a new one, EPCs can cost up to £120. To check whether you already have an EPC certificate, go to the Gov.UK website.

Capital gains tax

You’ll need to pay capital gains tax, known as CGT, when you sell an asset that has increased in value since you bought it. Usually, when you sell your main home, or your only home, you don’t have to pay any capital gains tax due to what’s called private residence relief I know that tax is not as exciting as finding loose change down the back of the sofa, but it's important to check if this applies to you because if you are liable to pay CGT, it must be reported and paid within 60 days. As ever, find out by seeking professional advice if you’re unsure.

Home staging and repairs

Now, this covers all sorts of things and if you’ve got an eye for interior design, you can probably do a lot of it yourself by dressing rooms and making everything feel, well, ‘homely’. But what if your property needs some repairs and updating?

According to CheckATrade.com, the average UK hourly rate of a handy person is £30 per hour, but charges can range depending on their skill set and your location. And if you live inside a ULEZ area, the handy person might have to pay more to reach your property, so that’ll be an added cost. Factors such as the complexity of the job could see additional charges, too, but if you have a large job, or a number of small jobs that are likely to take a whole working day, it’s worth asking a handy person to charge you a day rate because that could be cheaper for you.

I’ve been talking about repairs, but what if your house needs big things like a new kitchen or bathroom, or even a garden makeover?

Well, the website Loft Era says the average cost of a new kitchen is around £10,500, whilst kitchen renovations can come in at just over £5,000. Meanwhile a new bathroom will cost on average £5,000, according to CheckATrade.com. The same website suggests you’ll need about £5,000 to £10,000 for a transformational project on a garden.

As you can see, the cost to sell a house can quickly add up! But don’t worry if you don’t want to upgrade your property before selling. You can always sell in ‘as is’ condition if you sell with a cash buying company.

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Hidden fees for house sellers

Now, we all love a good mystery, but not when it involves mysterious fees. Let’s face it, they’re about as welcome as a downpour on your moving day. Time to shed some light on these costs so they don't sneak up on you…

Removal costs

Whether you're a minimalist or a 'keep everything just in case' person, moving your belongings is going to incur some costs. CompareMyMove.com claim that the average removal company costs for a three-bedroom house, travelling 50 miles, are £806. They say that it will cost around £1,200 with packing and furniture dismantling services added. Naturally, removal costs will vary and depend on the distance travelled, the number of items, the location and the services you require, but hopefully that gives you a rough idea of the costs that can be expected.

If you decide to do it all yourself, van hire costs will depend upon the size of vehicle and the hire duration. To give you an approximate ballpark figure, the hire company Enterprise will charge around £245 near Manchester for the two-day hire of a Luton van with a tail-lift; the thing you’ll need for moving heavy furniture. You’ll also need some muscles and lots of energy, as well as money for putting fuel into the van.

Other miscellaneous costs

These are the ‘oh yeah, I didn’t think of that’ costs, like a professional house clean, redirecting your post to your new address, and storage costs in case you need to put your furniture and most fragile items into storage for a while. These miscellaneous costs could make a significant dent in your pocket, so it's best to keep them in mind as early as possible.

In our next section, we'll chat about how to get your house ready for the big sale, without breaking the bank…

Preparing your home for sale

Let's talk turkey... or rather, let's talk tiling and taps. Prepping your home for viewers can feel like getting ready for a first date; you want to look your absolute best. But how do you do that without your wallet giving you the cold shoulder? I’ve got a couple of tips…

First impressions count

Start with the kerb appeal. Tidy the garden, add a few flowers, and maybe a new, clean doormat. A freshly painted garage door and pulling up the weeds can work wonders, too.

Declutter and depersonalise

Whilst you might love your collection of vintage teacups, buyers want to see themselves in the space. Clearing out clutter makes rooms feel bigger and more inviting. Remember, the goal isn't to pour money into a home you're leaving, but to make small, savvy upgrades that increase its appeal and value. Of course, you won’t have to worry about appearances and tidying-up when you sell to a cash buying company because they’ll buy any house in any condition.

The realities of market fluctuations

Ah, the property market; one minute it's all sunshine and rising house prices, and the next, it's cloudy with a chance of market dips. Understanding these fluctuations can be your superpower when deciding when to sell.

Timing is everything

Spring and early autumn often see a flurry of activity in the property market. Families want to move during the school holidays, making these prime times to sell. Winter, on the other hand, might see your house sitting longer on the open market, potentially achieving a lower price.

Reading the market

Keep an eye on local property trends. Are houses selling like hotcakes in your area, or are ‘For Sale’ signs becoming permanent fixtures, complete with cobwebs? Or are only some types of properties selling? Are buyers going barmy for bungalows? Or doolally for detached? Check what’s selling so that you know the market.

Economic factors

Interest rates, employment rates, and even political stability can affect buyer confidence and, consequently, impact your house price. A stable economy usually means more people are willing to take the leap into homeownership.

Plan for the unexpected

Admittedly, this is one of those ‘easier said than done’ things. Sometimes, life doesn't wait for the perfect market conditions. If you need to sell during a downturn, focus on what you can control; like presenting your home at its best (if you’re going to use an estate agent).

The silver lining

Navigating market fluctuations can feel like trying to read tea leaves, but with a bit of research and the right strategy, you can make informed decisions that work to your advantage.
 

So, with all that in mind, it’s time to get into the nitty-gritty of calculating the total cost of selling a property, but not before I share with you a way to minimise your home selling costs.

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Calculating your costs - a step-by-step guide

How 'we buy any house' scams work

Ok, so how do you minimise your home selling costs?

Well, here's how…

You sell your house with a cash buying company.

For a start, a cash buying company won’t charge you any commission. They’ll also cover all of your legal and conveyancing fees. And they will buy any house in any condition, whatever jobs needs to be done, big or small.

Yes, you probably won’t get the full market value, but you won’t have to pay any fees, you won’t have to pay for repair work, and you’ll save a lot of time and hassle. 

If we use an example of a freehold three-bedroom semi-detached house in England that had an asking price £200,000, let’s run the numbers…

  Estate agent  Cash buyer
Typical timescale 6 months Under 30 days
Original asking price £200,000 £200,000
Offer accepted £196,000 £178,000
Final price agreed after survey £194,500 £178,000
Estate agent fee (2.5%) -£4,862 £0
Legal fees (including conveyancing)  -£1,000 £0
Minor repairs and staging  -£2,000 £0
Estimated bills and council tax -£2,000 £0
Estimated mortgage costs -£3,000 £0
Amount in your bank account  £181,638 £178,000

The amount offered will vary from one cash buying company to another, but let’s say that you’ve chosen one that offers you 89% of the market value. That means you get one £178,000 for your house. 

There’s no commission to pay.

There are no legal fees to pay. 

You won’t be paying utility bills, council tax and a mortgage on a property you want to leave, and you won’t have to pay for any repairs or staging.

Plus, it saves you the inconvenience of finding tradesmen and being around when they visit. 

Yes, you would get slightly more with selling on the open market with an estate agent, but you’ve saved several months of your time and a lot of stress, delays and uncertainties, as well as the inconvenience of showing people around your house and sorting out paperwork.

And it’s a guaranteed sale that won’t fall through, like one-in-three sales that fall-through with estate agents.

But if you are going to sell on the open market with an estate agent, you can see the approximate costs that you can expect. Remember, each sale is unique, and costs can vary. But now, you're armed with knowledge and ready to face the numbers head-on.

Next up, we'll explore DIY sales versus enlisting the professionals.

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Comparing DIY sales vs. using professionals

If you're pondering whether to go solo or team up with the pros on your house-selling journey, stick with me whilst I look at the pros and cons of each…

DIY sale
Ah, the thrill of taking matters into your own hands. Here's what you need to know:
 

Pros

  • Cost savings: This is the most obvious perk. No estate agent fees here, thank you very much.
  • Control: You call the shots, from listing price to viewing schedules and negotiations.
  • Personal touch: Who better to sell the charm of your home than you? After all, you know your home better than anyone else. 


Cons

  • Time and effort: It's all on you to market the property, arrange viewings, and haggle over offers. Time to brush up on your salesmanship and put everything else on hold whilst you sort out your sale. 
  • Less exposure: Without an agent, your property might not be featured on the big portals, potentially limiting your pool of buyers.
  • Legal muddles: Navigating the paperwork without a pro can be tricky. Fancy a crash course in property law?
     

Using professionals
Letting the experts take the reins sounds relaxing, right? Here's what you need to know…


Pros

  • Market knowledge: They have the lowdown on how to price and present your property.
  • Wide exposure: Access to major listing sites means your property gets seen by the masses.
  • Negotiation skills: They do the haggling for you, aiming to get the best price possible.

Cons

  • Costs: Remember those fees we talked about? They can be a bitter pill to swallow.
  • Less control: You might not agree with their selling strategy or suggested price, but feel you’re at their mercy because they’re the professionals. 
  • Impersonal: It could be said that agents lack the personal touch in selling a home that's been part of your life.
     

Decision time
Choosing between DIY and using a professional depends on what you value more; the potential savings and personal involvement of a DIY sale or the convenience of going with an agent.
 

In our next section, we'll navigate the art of negotiating with agents and buyers. Whether you're a DIY enthusiast or a professional's pal, knowing how to talk turkey can save you a pretty penny. Stay tuned for negotiation nuggets…

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Negotiating with agents and buyers

9 rules to protect yourself from scams

If you're dealing with agents or talking directly with buyers, your ability to negotiate can mean the difference between a ‘so-so deal’ and a ‘wallet-smiling, fist-pumping, run all the way to the bank and scream from the rooftops’ victory. Let's unwrap some top tips on navigating these crucial conversations…

Negotiating with estate agents

  • Research is your best friend: Know the average commission rates and what services you should expect, before you start the conversation. Knowledge is power, and in this case, it could also mean savings.
  • Ask for what you want: Whether it's a lower commission rate or additional marketing for your property, I always work on the principle of ‘if you don't ask, you don't get’.
  • Highlight your position: If your home is likely to sell quickly or you're using the same agent to buy your next home, use this in your negotiations.


Negotiating with buyers:

  • Keep your cool: The first offer might be lower than you hoped for, but remember, it's just the starting point. Take a deep breath before you make a counter-offer.
  • Know your bottom line: Before you dive into negotiations, decide the lowest offer you're willing to accept. This keeps you from getting swept away in the heat of the moment.
  • Be ready to sweeten the deal: Sometimes, it's not just about the price. Offering to include certain fixtures or being flexible with the moving date can make your property seem much more appealing.
     

A word on body language
Whether you're chatting over the phone or face-to-face, your tone of voice and confidence can influence the outcome. Standing (or sitting) tall and speaking clearly says, ‘I mean business,’ in a language everyone understands.
 

And don’t forget to listen. Negotiation is a two-way street. Understanding what the other party values can give you the upper hand. Maybe they're in a rush, or perhaps they're looking for a home that's ‘move-in ready’. Use this info to your advantage.
 

Navigating negotiations might seem daunting but armed with these tips and a bit of practice, you'll be securing the best possible deal for your home. Remember, every pound you save or gain is a triumph in the great game of property selling.

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Wrapping it all up: Dan Green’s final thoughts on selling your house

Selling your house to a 'we buy any house' company

Phew, we’ve covered quite a bit of ground together here! From initial costs to navigating the winding roads of market fluctuations and the strategic manoeuvres of negotiation, as well as a way to minimise the costs, selling your house is indeed a journey. But fear not, because equipped with the right knowledge and a sprinkle of preparation, you're more than ready to embark on this adventure.

Remember, knowledge is your best companion in this journey. Understanding the true cost of selling your house can turn a daunting process into a rewarding experience. Yes, there will be costs and challenges, but with a clear strategy and a bit of savvy, you can maximise your home’s value and get through the sale with confidence.

The property market is ever-changing, but staying informed about market trends and being adaptable can make all the difference. Whether you choose to go DIY, use a cash buying company, or go with a national or local (or online) estate agent, only you can make those decisions based on what’s best for your unique situation.

After all, who you sell your house to, and how you do it, has got to be your decision. You should never feel pressured into selling, so if you do, walk away and use a different company.

And finally, I always think that selling your home is not just a financial transaction; it's a chapter in your life story. Approach it with care, thoughtfulness, and a dash of optimism. Focus on the end goal of your next adventure, with fond memories of the past and exciting plans for the future.

So there you have it, that’s my comprehensive guide that hopefully answers your question of ‘what’s the cost to sell a house?’ I hope you’ve found it enlightening. Here’s to your successful sale, and new beginnings.

FAQs

I've gathered some of the most burning questions you have and provided the answers…

Q1: What is the average cost to sell a house in the UK?
Well, the cost can swing quite a bit, but let's break it down. Estate agent fees usually hover around 0.75% to 3% of your selling price, plus VAT. Add in conveyancing fees (£500-£1,500), an EPC (£50-£120), and maybe some minor fix-ups (£500+), and you're looking at a few grand at least. Keep in mind, it's all about the details of your sale.
 

Q2: Are conveyancing fees negotiable?
Absolutely! It's always worth asking for a better deal or shopping around to compare prices. Remember, cheaper isn't always better. Make sure you're getting good value by checking what services are included.
 

Q3: Should I make home improvements before selling?
It's a fine balance. A fresh lick of paint or fixing that wobbly door handle can work wonders without costing the earth. As for major overhauls, I’d think twice. You might not recoup the cost in your selling price. Stick to improvements that enhance first impressions. Of course, if you use a cash buying company, you won’t have to spend on home improvements because they’ll buy any property in any condition.
 

Q4: How can I ensure my house sells quickly?
Presentation is key. Declutter, clean, and maybe even stage your home to show it in the best light. Price it right – not too high to put off potential buyers, and not too low that you're giving it away. And, of course, market it well. Good photos and a compelling listing can make a huge difference. If a fast sale is ultra important, the open market might not be the best place for you. That’s where fast cash sale companies can save the day by giving you a sale within 30 days.
 

Q5: Is it worth using an estate agent, or should I sell my house myself?
It depends on your confidence, skills, and how much time you can dedicate to the tasks involved in selling. Estate agents can offer market insights, wide exposure, and handle negotiations. Selling it yourself can save you money but requires more legwork. Weigh up the pros and cons for your particular situation.

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Further reading

To keep you well-informed on the cost to sell a house, and one step ahead in your house-selling journey, I've compiled a list of essential resources. These gems will offer info on specific topics…
 

Resource Website

Description

GOV.UK www.gov.uk Your go-to for legal requirements, government advice on selling your home, and understanding property taxes, as well as checking your EPC certificate and finding out about CGT. 
The Property Ombudsman www.tpos.co.uk Find guidance on estate agent standards and how to resolve disputes should they arise.
Rightmove www.rightmove.co.uk Access market insights, valuation tools, and a wide range of properties to benchmark your own against.
Zoopla www.zoopla.co.uk Another excellent resource for valuation tools and property market trends.
MoneySavingExpert www.moneysavingexpert.com Financial tips related to moving and selling homes, including how to save on fees and maximise your sale price.
Citizens Advice www.citizensadvice.org.uk For legal matters in property sale and more, this site offers free, confidential advice.
allAgents www.allagents.co.uk This is the UK’s largest customer review website for the property industry. It’s a great place to find out what people think about the agents you’ve shortlisted. 

This table of resources serves as your compass, guiding you through the complex terrain of the UK property market when you’re trying to find out how much it’ll cost to sell a house. Whether you're looking for legal advice, market insights, or financial tips, these seven websites are invaluable.

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