When embarking on the road to sell your house now, you should have an approximation of how much the whole selling process will cost you. This will help you to re-assess your financial priorities and can prevent any nasty surprises when the bills eventually come in.
It is ultimately down to you how as to much you are willing to spend on making your house acceptable for sale. If you are into DIY you can end up spending very little money and a lot of time on repairs and refurbishment. If, however, you are not, you will most likely have to pay someone to do it for you.
As regard selling fees it is all dependant on which route of sale you choose to go down. If you choose the route of an Estate Agent, you will normally be charged a percentage-based commission – usually 2-3%. This basically means that the higher the sale price of your home, the more money the Agent will earn.
Should you choose to go down the route of auctioning your property their will usually be a charge of 2% of the selling price. It is always prudent to check whether you will be charged separately for advertising and cataloguing. It is important to remember that you will have to pay the latter even if your house is not sold.
A private sale will generally incur some costs for marketing and advertising. The advantage of using this avenue is that these are one-off costs that will be unrelated to the sale price of your property, so it easier to come up with a clear budget.
Another avenue of approach is using third party national home buyers to make a quick house sale. They will normally buy any house in any condition and will deal with solicitor’s fees, the associated red tape and have the money for the sale in your hands within approximately 15 days. While you will receive 75 to 80% of the market value, when weighed up against associated costs such as agent commissions, solicitors fees and lengthy and stressful waiting times, it can often be the most viable option for those wishing to sell property quickly.