Selling a house costs for seller in UK (2024 Updated)
How much does it cost to sell a house?
- We will cover all the selling and legal costs
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Selling a house can be complex, especially when it comes to calculating all the various fees involved. The total cost of selling your home can vary based on what estate agent you choose and what additional services are required.
According to Zoopla, the average 3 bedroom house price in the UK for 2024 stands at £280,000 with the costs for selling amount of around £12,234 or 4.37% of the home’s value.
But, if your estate agent charges a higher commission, you might end up paying 3% or more just in estate agent fees alone. In this article, we’ll focus on the costs associated with selling a house through our service, a cash house buyer, and how it compares to traditional routes.
What do you have to pay for when selling your home?
When selling a house on the open market, there are several costs to consider beyond estate agent fees. However, if you choose to sell your home to a cash buyer, like The Property Buying Company, many of these expenses are covered, meaning you won’t have to pay a penny.
Conveyancing fees
Your estate agent may recommend a solicitor, but be cautious — these solicitors might have agreements with the estate agent, potentially leading to higher fees. According to the Homeowners Alliance, legal fees from solicitors can range from £500 to £1,5000, but this doesn’t include additional charges, which can add up to around £623:
Title deeds: £6
Property fraud fee: £10
Transferring ownership: £200 - £300
Bank or telegraphic transfer: £20 - £30
Money Laundering checks: £8pp
Searches: £250
If you sell your home to us, we cover all your conveyancing costs, eliminating this expense entirely.
Energy Performance Certificate
An EPC is legally required when selling your home, costing between £35 and £120. This certificate indicates the energy efficiency of your home. If your property requires a valid EPC for the sale, we’ll cover the cost as part of our service.
Removals
Hiring a removal company in the UK will vary depending on the size of your home and the distance you’re moving, for example:
A 2 bedroom house might cost around £600 if you pack yourself, or £900 with a packing service.
For a 3 bedroom house, expect costs of £900 or £1,200 with packing.
Moving locally tends to be cheaper, with many removal companies charging around £50 per hour for two professionals and a van, with a minimum of two hours’ service.
Mortgage Exit Fee (MEAF)
When paying off your mortgage, you might be charged an exit fee, usually between £50 and £300. This fee covers the administrative costs of closing the mortgage and it’s different from Early Repayment Charges.
Early Repayment Charges
If you repay your mortgage early, you may face Early Repayment Charges (ERC), usually ranging from 1% to 5% of the outstanding balance. The percentage often decreases with each year of the mortgage.
For instance, a 5 year fixed mortgage might have a 5% charge in year one, 4% in year two and so on. These fees can either be paid upfront or spread over a new mortgage term.
How to calculate the costs for selling a house?
One of the key questions when selling your home is how much profit you’ll walk away with after all the costs are accounted for. After all, understanding your net proceeds is important in any property sale.
To calculate this, you need to know three things:
Total selling costs - Including estate agent fees, legal fees, and other associated expenses.
Remaining mortgage balance - How much you still owe on your mortgage.
Sale price of your property - The agreed amount the buyer will pay for your home.
Let’s use the example from earlier, where your home sells for £280,000 and the total selling costs come to £6,300. You also have an outstanding mortgage balance of £100,000.
Here’s the equation to calculate your net profit:
Sale price - (Selling costs + Remaining mortgage balance) = Net proceeds
So in this case:
£280,000 - (£6,300 + £100,000) = £173,700
Your net proceeds from the sale would be £173,700 after covering all the associated costs and paying off your mortgage.
What are other potential costs in a house sale?
In addition to the common costs of selling a property, there are several other potential expenses you may need to consider. Whether these apply to your situation depends on your personal circumstances and the condition of your home. Here are a few extra costs to keep in mind:
Refurbishment costs
If you’re selling on the open market, it may be worth investing in minor refurbishments to increase your home’s appeal. These improvements can attract more buyers and potentially increase your sale price. Some common refurbishments include:
| Project type | Average cost | Estimated value added |
|---|---|---|
| Painting & decorating | £1,000 - £3,000 | 1% - 2% |
| New flooring | £2,000 - £5,000 | 2% - 3% |
| Window replacement | £400 - £1,500 per window | 3% - 5% |
| Roof repairs | £500 - £3,000 | Essential to avoid value loss |
| New boiler installation | £1,800 - £3,500 | Minimal increase, improves buyer appeal |
Renovation costs
If you sell your house to us, there’s no need to worry about renovations — we buy homes as-is, saving you time and money. However, if you’re looking to maximise your home’s value and have the time and resources to invest in renovations, there are several projects you might consider.
These improvements could increase your home’s appeal and potentially lead to a higher sale price on the open market, but it does come with great risk:
| Renovation type | Average cost | Estimated value added |
|---|---|---|
| Full house renovation | £38,000 - £74,000 | 10% - 15% |
| Kitchen renovation | £3,000 - £10,000 | 10% - 15% |
| Bathroom renovation | £3,000 - £10,000 | 4% - 5% |
| Living room renovation | £3,000 - £7,000 | Up to 5% |
| Bedroom renovation | £2,000 - £6,000 | 2% - 5% |
| Conservatory | £10,000 - £30,000 | 5% - 10% |
| Extension | £1,200 - £2,500 per m² | 10% - 20% |
| Loft conversion | £30,000 - £50,000 | 15% - 20% |
| Basement conversion | £2,000 - £4,000m² | 10% - 15% |
| Rewiring | £2,000 - £4,000 for a 3 bedroom house | Minimal, but improves safety and buyer appeal |
| Replumbing | £2,000 - £5,000 | Minimal, but improves buyer appeal and function |
| Damp proofing | £3,000 - £8,000 | Essential for maintaining value, could avoid losses |
Incentives
If you’re finding it difficult to sell your home on the open market, especially if there are similar homes available, you might consider offering incentives to make your properties stand out. While reducing the asking price is one option, offering incentives can sometimes be a more attractive way to close the deal without sacrificing too much on price.
If you’re selling a Buy To Let property, one effective incentive could be offering to cover two months of rental income for the buyer. This provides immediate cash flow for the new owner and makes your home more appealing to investors.
Here are a few additional incentives that can help sway a buyer’s decision in your favour:
Covering the buyer’s legal costs: Offering to pay for the buyer’s conveyancing fees can reduce their upfront expenses and make the process smoother.
Paying the buyer’s Stamp Duty: Covering this significant expense can be a strong motivator, especially for first-time buyers or those close to their financial limits.
Leaving the property fully furnished: If you’re selling a furnished home, offering to include the furniture can be a huge bonus, particularly for buyers looking for a turnkey property.
Covering the buyer’s removal costs: Offering to pay for the buyer’s removals can save them both time and money, making your home even more attractive.
Providing additional warranties: Offering warranties on appliances or any recent renovations give buyers extra peace of mind, knowing they won’t face immediate repair costs.
While offering incentives can attract buyers, it’s important to assess whether this will truly help move your home off the market. If you’re considering dropping your asking price or adding one of these incentives, it might be worth exploring a direct sale to us instead.
We can provide you with a guaranteed cash offer, saving you time and eliminating the need for costly incentives.
What are the average property selling costs in the UK?
When it comes to selling your house on the open market, estate agent fees will be the biggest cost you incur. Next up, it will be your conveyancing fees, then your removal fees and then acquiring any paperwork expenses like Energy Performance Certificates.
| Category | Average cost |
|---|---|
| Traditional estate agent fees | 1% - 3.6% of selling price (+20% VAT) |
| Online estate agent fees | £800 - £1,999 (inc VAT) |
| Conveyancing fees | £800 - £1,500 (inc VAT) |
| Energy Performance Certificate | £35 - £120 |
| Removal costs | £300 - £1,500 |
| Capital Gains Tax (if applicable) | 18% (basic rate taxpayers), 28% (higher rate taxpayers) |
| House cleaning | £100 - £400 |
| Mortgage exit fees | £50 - £300 |
| Early repayment charges | 1% - 5% of remaining loan amount |
| Total | £12,234 |
*Uses the £280,000 house with a £100,000 remaining mortgage example.
The average costs when selling with The Property Buying Company
| Category | Average cost |
|---|---|
| Removal costs | £300 - £1,500 |
| Mortgage exit fees | £50 - £300 |
| Early repayment charges | 1% - 5% of remaining loan amount |
| Total | £4,950 |
*Uses the £280,000 house with a £100,000 remaining mortgage example.
Is there an upfront cost to sell a house?
When selling your home through a genuine cash house buyer, like The Property Buying Company, you won’t encounter any upfront costs – or any selling costs at all. As leading property buyers, we will cover all the fees associated with selling.
In contrast, if you sell through an online estate agent then you will face an upfront commission of between £100 to £1,999 depending on what packages you have chosen.
High street estate agents work a little differently, working on a ‘no sale, no fee’ basis, meaning you don’t pay their commission until after the house has sold. However, estate agent fees and commission can significantly reduce your net profit, which means it’s more important than ever to choose the free alternatives.
Do you pay tax on selling a house?
Yes, Capital Gains Tax is applicable if you sell a house that isn’t your primary residence, such as a Buy To Let property, a holiday home, or an inherited property. The amount of tax you pay depends on your income tax bracket:
Basic rate taxpayers will pay 18% on the profit (capital gain) from the sale.
Higher or additional rate taxpayers will pay 28% on the capital gain.
You will need to pay Capital Gains Tax if the property being sold is any of the following:
Buy To Let property
Holiday home or short term rental
Inherited property
Business premises
Land (if sold separately from your residence)
However, you won’t need to pay Stamp Duty when selling a property. Stamp Duty is only payable when buying a property. It is the responsibility of the buyer to pay Stamp Duty and it’s often accounted for in their offer.
How much does it cost to sell your house with us?
At The Property Buying Company, selling your house with us is completely free. You won't incur any selling or legal costs — meaning no estate agent fees or conveyancing charges. The only potential costs you may be liable for are Capital Gains Tax (if applicable) and any mortgage related costs, such as early repayment charges.
Not only is the sale cost fee, but we can also buy your house in as little as 7 days. As a genuine cash buyer, we ensure the process is quick and straightforward. We handle everything for you, making the entire experience hassle-free.
We require just one quick viewing to confirm that our cash offer is accurate. Once you accept our offer, you can rest assured that the agreed amount will be transferred to your bank in full — no hidden deductions or fees.
We are proud members of the National Association of Property Buyers and The Property Ombudsman, and we’re rated excellent on Trustpilot with over 2,000 positive reviews. This means you can feel confidence in working with us, knowing you're in safe hands.
To get started, simply give us a call or fill out our online form. You’ll receive a no-obligation cash offer, and once accepted, the full amount will be transferred to your bank — without any legal or estate agent fees to worry about.
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