A Guide to the Cost of Selling a House in Bury St Edmunds

How much should you expect to pay for selling your property in Bury St Edmunds

Selling a house can be an expensive process, and it's important to be aware of all the costs involved to avoid any unexpected surprises. If you're planning to sell a property in Bury St Edmunds, it's essential to understand the costs involved in the process. In this blog, we'll guide you through the various expenses associated with selling a house in Bury St Edmunds and provide you with tips to keep your costs down.

Estate Agent Fees for Selling Your House

One of the most significant expenses associated with selling a house in Bury St Edmunds is the estate agent fees. Estate agent fees can vary widely depending on the agent you choose and the services they provide. In general, estate agent fees can range from 0.75% to 3% of the final sale price of the property. If you'd like to find out more and find out how much it would cost to sell your house with Marshall Buck, request a valuation.

Energy Performance Certificate (EPC) for Selling Your House

An Energy Performance Certificate (EPC) is required by law to sell a property in the UK. The EPC rates the energy efficiency of a property on a scale from A to G. The cost of an EPC can vary, but you can expect to pay around £50 to £120.

Conveyancing Fees for Selling Your House

Conveyancing fees are the legal costs associated with selling a property in Bury St Edmunds. A conveyancer will handle all the legal paperwork involved in the sale, including the transfer of ownership. Conveyancing fees can vary depending on the complexity of the sale, but you can expect to pay around £500 to £1,500.

Removal Costs for Selling Your House

Moving house can be an expensive process, and it's important to factor in the cost of removals when selling your property in Bury St Edmunds. The cost of removals can vary depending on the distance you're moving and the amount of furniture and belongings you need to move. You can expect to pay around £500 to £1,500 for a local move.

Mortgage Redemption Fees Fees for Selling Your House

If you have a mortgage on your property, you'll need to pay a mortgage redemption fee when you sell your house. This fee is charged by your mortgage lender to cover the administrative costs of closing your mortgage account. The mortgage redemption fee can vary depending on your lender, but you can expect to pay around £100 to £300.

Capital Gains Tax for Selling Your House

If you're selling a second property or a buy-to-let property, you may be liable for Capital Gains Tax (CGT). CGT is a tax on the profit you make from selling an asset. The amount of CGT you'll need to pay will depend on your individual circumstances, but you can expect to pay between 18% and 28% of the profit.

Marshall Buck's Conclusion on Fees for Selling Your House in Bury St Edmunds

Selling a house in Bury St Edmunds can be a costly process, but by understanding the associated costs and taking steps to keep them down, you can save money and increase your profits. When choosing an estate agent, it's important to compare fees and services to find the best deal. You should also be aware of the costs of an EPC, conveyancing fees, removals, mortgage redemption fees, and Capital Gains Tax. By factoring in these costs from the outset, you can ensure that you're well-prepared for the selling process and avoid any unexpected expenses.

Find out how to sell your property in Bury St Edmunds.