What is the Cost of Selling a House?
The cost of selling a house in 2021 is £5,723 for a house priced at £251,000, the UK's average. The total selling costs will vary depending on the price of the house, your solicitor fees for selling, whether you use an online or traditional estate agent and if you need any additional services.
It should be noted that this cost is just an average price and the costs involved in selling your house could be more or less. Compare My Move work with property industry experts to bring you informed moving house advice. In this guide, we provide a detailed breakdown of the full cost of selling a house.
- How Much Does it Cost to Sell a House in 2021?
- The Impact of Covid-19 on Selling a House
- Estate Agent Fees
- Solicitor Fees for Selling a House
- EPC Certificate Costs
- Mortgage Fees
- Removal Company Costs
- Surveying Costs
- Preparing House for Sale Costs
- Capital Gains Tax (CGT)
- Next Steps of Selling a House
How Much Does it Cost to Sell a House in 2021?
These are the average costs of selling a house with some extra costs that you could expect.
You should note that these costs are just an average, and your true cost of selling your home will vary depending on the size, price, services required and the estate agent you choose.
Use our free moving house calculator to see the full costs involved in moving.
| Service | Average Selling Fee |
|---|---|
Estate Agent Fees | £2,961 - £7,070 (1-3% of the final sale price) |
Solicitor Fees | £1,046 (inc. VAT) solicitor’s legal fee & disbursements |
Energy Performance Certificate (EPC) | £60 - £120 (inc. VAT) |
Porting a Mortgage | Up to £450 for valuation |
Removal Company Cost | £1,181 - for a 3-bedroom house travelling 50 miles with packing |
Extra selling costs | |
Mortgage Exit Fee | £50-£300 |
| Surveying Cost (Homebuyer Report) | £500 - not essential but some sellers prefer a second opinion |
Capital Gains Tax | Varies |
The Impact of Covid-19 on Selling a House
The effect of Covid-19 on the property market has seen house prices rise in the UK. According to the UK House Price Index, UK house prices increased by 9.9% in March 2021 compared to March 2020, making it a good time to sell your house.
As the housing market opened up again in early Summer, first-time buyers and seasoned buyers were quick to snap up properties as property viewings and other services were paused for so long prior. The increased Stamp Duty threshold worked in favour of sellers too as potential buyers continue to take advantage of the Stamp Duty holiday until end of June.
Estate Agent Fees
Cost of high-street estate agent: £2,961 (1.18% commission fee)
The average commission charged to sell your house with a high-street estate agent in England and Wales is 1.18% plus VAT. Selling a house priced at the average UK house price of £251,000 will see estate agent fees of £2,961.
Estate agents will base their fee on a percentage of the final sale price. Although estate agents are known to charge anywhere between 1% and 3% of the property price, this isn’t payable until after your house has sold.
Many estate agents will offer a ‘no sale, no fee’ service which means if the sale falls through, they won’t charge commission, but be sure to check this out before using an estate agent.
Cost of Online/Hybrid Estate Agents
Cost of an online estate agent: Fixed rate of £300 - £1,500
Online estate agents usually offer a fixed-fee price, regardless of the price of your house, but you’re usually required to pay this upfront. Prices will vary depending on who you work with so it's important to create a list of questions to ask estate agents before deciding.
With most high-street estate agents charging a percentage fee of the final sale price, many people are turning to online estate agents like PurpleBricks and Yopa as they usually offer a fixed-fee service. Online estate agents that provide fixed fees will typically require the payment upfront, which doesn’t give peace of mind if the sale falls through. As most of the service is done online and the seller will be responsible for a lot of the work, online estate agents can offer cheaper prices than traditional high-street estate agents. Online estate agents will be significantly cheaper if your house sells at a high price, as the selling fee remains a fixed-fee regardless of your house price.
Cost of Selling a House at Auction
Cost of auction commission: £4,713 + VAT Selling your house at auction is another method to consider and consists of three main costs. The cost to sell the average UK priced house at auction will be £4,713 + VAT commission.
Most auctions will charge a 2% commission of the final sale price which is paid only if the property sells. Many auctioneers will also ask for an entry fee too which is paid upfront. If asked for an entry fee, make sure this can be paid only once the property is sold.
The final cost will be your solicitor legal pack. According to Auction Link, a solicitors legal pack will cost £200 or more and is to be paid before the auction.
Estate Agents Tips
- Make sure you know all costs involved upfront. Some might charge extra for marketing or online listings, so ask for a breakdown of the quote.
- Estate agents will value your property, but ultimately it’s up to you what price you want to sell your house for. They have local market knowledge so will know best, but if you feel they are undervaluing your property, you can get multiple valuations.
- Estate agents work for you and not the buyer, so they will try and get you the best sale price.
- For further information, read our guide on how to choose the best estate agent.
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Solicitor Fees for Selling a House
In 2021, the average conveyancing solicitor fees for selling a house are £1,046. This is for selling a house priced at the UK average of £251,000. This includes the solicitor’s legal fee as well as conveyancing disbursements that are an essential part of the conveyancing process.
To work this out, we looked at the average conveyancing cost for selling a freehold house costing between £200,001 and £300,000. On top of the £1,000 legal fee, you will have to pay conveyancing disbursements, these include Land Registry Search fees and Telegraphic Transfer Fee costing £6 and £40, respectively.
Below are the average solicitor fees for selling a house from £100,000-£1,000,000. We took a sample of fees from 50 verified licensed conveyancers and conveyancing solicitors across the UK to find these averages, but this is just an indication of costs. Fees will vary greatly depending on your situation and conveyancer.
| Property Value | Average Solicitor Fees for Selling Freehold House | Average Solicitor Fees for Selling Leasehold House |
|---|---|---|
Up to £100,000 | £820 | £990 |
£100,001 to £200,000 | £880 | £1,050 |
£200,001 to £300,000 | £1,000 | £1,170 |
£300,001 to £400,000 | £1,090 | £1,260 |
£400,001 to £500,000 | £1,160 | £1,340 |
£500,001 to £600,000 | £1,330 | £1,490 |
£600,001 to £700,000 | £1,390 | £1,550 |
£700,001 to £800,000 | £1,600 | £1,770 |
£800,001 to £900,000 | £1,730 | £1,880 |
£900,001 to £1,000,000 | £1,840 | £2,000 |
Conveyancing Disbursement Fees
Cost of conveyancing disbursements: £46
Conveyancing disbursements are fees that your conveyancer pays on your behalf for third party services. These are in addition to their legal fee and there are fewer disbursements for selling a house than buying.
Land Registry Documents - £6
Obtaining official Land Registry documents will prove that you're the legal owner of the house you’re selling. This will be in the form of a copy of the title deeds.
Bank Transfer Fee - £40
A bank transfer fee is a cost required when your conveyancer needs to transfer money. Whether it's to pay off your mortgage or paying the final sale funds to your account, this will be added to the cost. We found the average cost including VAT was £40 but can range between £25 and £45.
Conveyancing Tips
- Choose your solicitor carefully. Make sure they are CLC, SRA, LSS or LSNI regulated.
- Be wary of any quotes that are too cheap or too expensive. Don’t be afraid to ask for a breakdown of a quote and be sure to compare conveyancers.
- Avoid using the conveyancer your estate agent recommends. Read reviews and take recommendations from friends when it comes to finding a conveyancer.
EPC Certificate Costs
Cost of an EPC certificate: £85
An Energy Performance Certificate (EPC) costs between £60 and £120. You will need to get an EPC by law when you’re selling your house. An EPC will be valid for up to 10 years, so you need to ensure you have one when you put your house on the market.
Getting an EPC is vital as it will help you to improve the chances of getting your property sold. The certificate will give you an accurate idea on your property’s energy usage and costs, allowing you to make any necessary changes to increase interest in your home.
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Mortgage Fees
If you still have a mortgage left to pay when you’re selling a house, you may face a mortgage exit fee. This can vary from £50-£300 depending on your lender and how much outstanding balance you have.
You can either port your mortgage - that is, take the same deal through the same lender to your new property - or look for a new mortgage deal. Both remortgaging and porting your mortgage will come with extra fees, so it’s down to you to decide if you want to transfer your mortgage or apply for a new deal.
Costs of Porting a Mortgage
When you port your mortgage, it’s transferred from your current property to the one you’re buying. Porting a mortgage will mean repaying your current mortgage on the sale of your house whilst resuming the mortgage with the same lender on your new house.
Borrowing the same - You will usually have to pay for a mortgage valuation survey. Some lenders offer this for free, whilst others can charge £450 and more.
Increasing borrowing - Research from The Advisory claims an arrangement fee between £100-£500 may be payable.
Decreasing borrowing - You may have to pay an early payment fee, usually 1-5% of the differential loan amount, according to The Advisory.
Costs of remortgaging
If you choose to get a new mortgage deal, you will need to consider how much it will cost to remortgage. Below are a few of the fees to expect when you remortgage your home:
Arrangement fee - £1,000 - £2,000
Booking fee - £100 - £250
Valuation fee - £150 - £1,500
To learn more about the costs, read Do You Need a Solicitor to Remortgage.
Removal Company Costs
Cost of removal company: £1,181
Hiring a removal company will cost on average £1,181 for a 3-bedroom house travelling 50-miles. Once you’ve found a buyer for your house and arranged completion day, you will need to book your removal company. The cost of your house removals will vary on the size of your house, distance travelled and if you require any extra services such as packing or storage. Below are the average costs for different sized moves, travelling 50 and 150 miles.
| Size of Move | Cost of Removal Company Travelling 50 Miles | Cost of Removal Company Travelling 150 Miles |
|---|---|---|
1-bedroom | £356 | £468 |
2-bedroom | £576 | £688 |
3-bedroom | £806 | £918 |
4-bedroom | £1,056 | £1,168 |
Surveying Costs
Cost of homebuyer report: £500
You don’t need to get a property survey when selling your house, the buyer will be responsible for this, unless you’re selling a house in Scotland. However, if you wanted to get a survey done on your property to prepare yourself of what could be found then the average cost of a homebuyer survey will be £500.
Home Report Scotland
If you’re selling a house in Scotland you will need to provide the buyer with a Home Report. It will provide buyers with important information about your property. According to RICS, a Home Report will cost between £585 and £820.
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Preparing House for Sale Costs
Cleaning - £0 - £150
Painting - £50 - £,1000
Fix repairs - £0 - £2,000
It doesn’t have to cost a lot to get your house looking good for a sale. We recommend that you thoroughly clean your house before viewings and photographs and again before the buyers move in.
Before buyers try to negotiate on an offer, you should make sure you have fixed any necessary repairs, otherwise, you could factor this into the sale price. Things like broken door handles or radiators could be easily fixed, making your house look more attractive.
If your property could benefit from a fresh coat of paint, this will help make your house or flat look more presentable and livable for potential buyers. It doesn’t have to cost a lot, but it could make a difference in getting a better offer.
If you have a problem such as damp, it could be worth getting a quote to see how much it would cost to resolve this. If this is too much trouble, be sure to factor this into your sale price as this is something that will be flagged in a property survey.
Capital Gains Tax (CGT)
You may have to pay Capital Gains Tax (CGT) if you may profit on the sale of a house that is not where you live, for example, a buy-to-let property. According to the government, you’ll need to pay Capital Gains Tax on a house if it’s:
- Inherited property
- Buy-to-let
- A holiday property
- Business premises
- Land
Next Steps of Selling a House
This article is part of our selling a house guide. Once you've explored all the costs involved with selling your house, it's important to learn the time it takes to sell a house. In the next article in this guide, we'll explore the timeline of selling a house, from listing your property to negotiating offers. To learn more read the time it takes to sell a house.
