There are a number of costs and fees associated with selling a house that you will need to factor into your budget.
Doing this now will help ensure there are no nasty surprises further down the line. If you are also buying a house at the same time as selling, then also review the buying costs. Your Move has a team of Financial Consultants who can help you calculate these costs.
Here are six of the top costs to look out for:
1. Estate Agent fees
Estate Agency fees include advertising your property and conducting viewings, as well as liaising with other parties involved to get the sale to completion.
2. Mortgage exit fees
Check whether there are any penalties for leaving your mortgage early. You may incur an exit fee or an early repayment charge.
In England and Wales it is necessary for a seller to provide an EPC for the property to potential buyers. This document sets out the energy efficiency of the home, "A" being the most efficient and "G" being the least efficient. Your Move can organise this for you.
4. Home Reports
In Scotland sellers are required to provide a Home Report to buyers. The Home Report includes three separate reports; a Property Questionnaire; a Single Survey; and an Energy Report.
5. Conveyancing fees
A solicitor or legal conveyancer will deal with the legal aspects of selling your property, this is called conveyancing. The cost will depend on the sale value of your property, but is considerably lower than fees involved when buying a property.
6. Removal costs
If you are moving to a new home don’t forget to factor in moving costs. The cost will vary depending on how much you are moving and how far you are moving. Get two or three quotes and look at customer reviews to choose the most suitable removal firm for your needs.