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What Are the Financial Costs of Selling a Home?

If you intend to sell your home, it is important to note that there are a number of financial costs you are bound to incur. Selling a home can take a while, as there are many requirements that you need to meet, both financial and non-financial. You should be informed on the things you need to do to have your home sold. In addition, you need to make sure you know the lowest amount you can take for your home, and use it to guide you during negotiations. The process requires expert help, so you should make sure you have a good estate agent to take you through it. You can get help from silvertonhouse.co.uk. Some of the financial expenses you would incur include the following:

Renovation

Your house will require some improvements before you sell it. There may be a few things that could be damaged; you need to fix them. In addition, the house has to look new and presentable, so you may have to do some decoration. To have your home sold fast and at a good price, you will have to pay a price to make it attractive. Some of the ways in which you can renovate your house include:

 • Washing the windows

Having lived in that home for a while, you may have forgotten that some parts of the house need frequent cleaning, such as the windows. When you decide that you need to sell your house, you should keep in mind that the potential buyers are new to the home, so they are bound to notice such little things as dusty windows. Make sure you have them cleaned. You can hire a cleaner to do the work for you in order to ensure the job is done perfectly.

 • Painting

Your potential buyers will be attracted to your home if it looks new and attractive. It is therefore important that you get someone to paint your walls. You may need to change the colours you had previously used. The appearance of your house is greatly enhanced by the painting. This task requires expert help, so you need to consider the cost of hiring someone.

 • Addition of decorations

Since you are trying to impress your potential buyers, it is important that you consider decorating your home. You may need to buy such things as mats and flowers to make your home beautiful. You may also want to replace some of your decorations, especially if they have some sort of value to you and your family.

 • Landscaping

Your home needs to be attractive both inside and outside. For this reason, you should remember to work on your compound. Your garden should look as beautiful as possible. You may have to hire someone to do the work for you, since there may be a lot to be done. 

Fees for your Estate Agent

If you have an estate agent helping you through the selling process, you will pay a certain fee.  The agent fee depends on the agreement you make, as well as the service you receive. It will be slightly more expensive if the agent helps you even in the interaction with your prospective buyers; than the cost you will incur if all the agent does is advertise the house for you. On average, an estate agent will charge you 1.2% plus value added tax. 

Fees for the Solicitor

Selling a house has legal requirements, which need to be handled by an expert. You need to hire a solicitor to help you with the conveyance process, which involves legally transferring the ownership of your home to the buyer. The cost in this case is determined by the kind of agreement you have with your conveyancer or solicitor.  

Certificates of Energy Performance

Before you sell your home, it is tested for energy efficiency, which is rated and put down on a certificate. This process can cost you a total of £50-£120.   

Conclusion

The decision to sell your home and start over may be a big deal for you. There may be an urgent reason why you want it sold, and you certainly want a good price for it. You will be required to pay a huge price to have the house sold, so make sure you have a plan. You should really think about the price at which you intend to sell the house, in order to make sure you can cater for the extra expenses and still have a good amount left. Look for as much information as you can get on the whole process. If possible, consult those whom you know have been there before. You may be referred to a great estate agent or solicitor. Ensure you can negotiate well to avoid spending much more than you hoped for.

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