Thinking of selling your property? Brace yourself for more than just packing boxes. Gaffsy, a property-buying specialist, has unveiled the hidden costs of selling that can catch sellers off guard and at ADM Residential, we are here to ensure you understand all the extra costs that impact on selling a home.
Solicitor Costs: Legal Eagles Don’t Come Cheap
Legal fees average around £2,003, but this can vary widely. The type of property, its price, and the complexity of the sale all play a role. If you’re buying and selling simultaneously, using the same solicitor could save you some cash.
Mortgage Matters: Porting vs. New Deals
Deciding whether to port your existing mortgage or take out a new one is crucial. Watch out for those mortgage exit fees – they can be a nasty surprise. A £120,000 mortgage with a 4% exit fee would set you back £4,800!
Surveys: An Optional Expense Worth Considering
While not mandatory, surveys (costing £400 to £1,500) can be a wise investment. They might uncover issues that could affect your sale price. Some sellers even opt to conduct their own surveys to address problems before buyers spot them.
Don’t Forget the Extras
Selling a second home? Be prepared for Capital Gains Tax. And don’t overlook the Energy Performance Certificate (EPC) – it’s a legal requirement and costs between £60 and £120.
The Bottom Line of the Hidden Costs of Selling A Home
Selling a home isn’t just about the sale price. By factoring in these hidden costs, you can budget more effectively and avoid unwelcome surprises. Remember, knowledge is power – and in this case, it could save you thousands.
Opinion from the people behind the survey
Oren Kander is the senior valuer and director at Gaffsy, and they spoke about this topic saying: “Selling a home can be incredibly expensive and knowing how much to save and account for is useful for property sellers. There are many hidden costs with property selling and knowing about them can help alleviate the stress associated with selling your home. We’ve estimated that sellers need to pay a huge £18,500 to sell their property, but know some of these costs can be negotiated down to reduce fees and companies will expect you to do so.”
When it comes to costs associated with selling your home, the bills can add up. It is also important to note not all estate agents, or any service provider, are the same. At ADM Residential, we aim to provide you with the experience and expertise you expect from a highly valued Huddersfield estate agent. We know the local market, and our track record in bringing buyers and sellers together is proven.
Contact ADM Residential to sell your Huddersfield home in 2024
Anyone who is keen to sell their home in Huddersfield should contact ADM Residential today. We are more than happy to provide you with a property valuation, which is the ideal starting point for anyone looking to enter the Huddersfield housing market with confidence.
This is a busy time of year in the local and national housing market, but we look forward to assisting you. Call on your leading Huddersfield estate agents today for help and guidance in the local market.
