The Real Cost Involved in the Sale of a Property

Mar 1 2012 / By
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money 150x150 The Real Cost Involved in the Sale of a PropertyMost sellers can expect to make a tidy sum selling their property in today’s strong housing market. There may be a price to pay before you begin to harvest your rewards however.

1. Energy Performance Certificate:
Sellers are now required to provide the prospective buyer with an Energy Performance Certificate (EPC). Consult the fact sheet for a thorough explanation of the EPC’s. 

Tip: The costs run around £100 so consider asking your estate agent if they would cover the cost of the EPC as an incentive for you to use their services.

2. Estate Agent Fees:
When a seller uses an estate agent to list their property for sale, they charge a commission based on one or two percent of the final selling price.

Tip: Think about cutting the estate agent fee out altogether by selling your property privately. Without an estate agent, you need to prepare yourself to do the extra work it entails to get your home sold.

3. Conveyancing:
This covers the legal aspect of both selling and purchasing a property by allowing your solicitor to take care of the necessary paperwork and guidance.

Tip: If you are also purchasing a property, inquire to see you if you can work a discount fee to cover both transactions.

4. Storage:
Not all housing transactions can be timed to the precise date, so you may need to find storage for your belongings. A rough figure to go by includes one hundred square metres equating to 200 boxes.

Tip: Ask a professional exactly how much room you will need, so you don’t pay for unnecessary space.

5. Removals:
Once you’re property has been sold, you will want to move your belongings to your new dwelling. You can enlist a firm to transport your furnishings from start to finish.

Tip: To provide protection for your cherished items, consult with the firm on purchasing moving insurance if your current insurance company doesn’t already cover this for you.

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