If you’re selling your home and getting ready to purchase a new one, it is important to understand what fees you will need to pay to hire a solicitor. Without a solicitor, it is impossible to manage finances, legal requirements and documents and the vital process of transferring ownership.
It is a lengthy process and can be a daunting task to sell your property single-handedly. But, knowing what your fees are can help settle your nerves and help you to organise what needs to be prioritized. Here’s everything you need to know about solicitors fees for selling a house, allowing you to learn how you can make that next chapter in the book of your life…
What Are The Main Costs Involved In Selling A Property?
There can be various costs involved in selling your property, that is due to be paid before, during and after a completed sale. The prices of each fee vary as some may be ongoing. The most common fees include:
- Conveyancing fee
- Energy Performance Certificates (EPCs)
- Removal Fees
- Estate Agent Fees
Cost One: Conveyancing Fees
One of the most important fees in selling a property is when you hire your solicitor. They will either charge you a fixed fee or a percentage of the value of the property. These costs really range depending on how complicated your transaction may be and also what solicitors you use. On average, these fees will cost between £500 and £1,500.
Cost Two: EPCs
EPCs are Energy Performance Certificates that every homeowner has to provide for a potential buyer. They tell the buyer how energy efficient a property is on a scale of A to G with A being the most and G being the least efficient.
If you don’t have one of these, you can get them done with any accredited domestic energy assessors or your estate agent can arrange one for you.
They usually cost between £50 to £120 and are valid for up to 10 years.
Cost Three: Removals Fees
When you’re moving property you can’t always rely on family and friends to help move all of your furniture. So it may be best to hire a professional removal company which can cost you between £400 and £1,200 depending on how big your property is.
Cost Four: Estate Agent Fees
Estate agents can be very useful to have as a source of knowledge alongside your solicitor. A high-street estate agents will have the fee of 1.3% including VAT, but online estate agents are often a bit cheaper, ranging from £400 to £1,000.
If you choose to go with an online estate agent, be careful to check what they offer as they may be more restricted, hence the cheaper price.
What Does A Solicitor Charge?
Your solicitor is the most significant part to a property sale as they will help to manage searches, surveys and stamp duty. It ranges from each and every solicitor but it is often between £500 and £1500.
Based on a house sale of £128,000 over 7 months ago, our charges can to a total of £746.40. This included £500 for a leaseholder fee £75 plus VAT for office copy deeds, £6 for an ID check, £14.40 for a Bank transfer fee.
How To Choose The Best…
There are many solicitors you can use to help you to sell your home, but sometimes it’s difficult to find the perfect one suited to you. Here at Beeston Shenton, we can guide you through the whole process and can make it as stress-free as possible. Get in touch today for any legal advice regarding your property…