How Much Does it Cost to Sell a House in Dundee?
If you’re thinking of selling your home in Dundee you’ll be aware that there are a number of costs involved!
And of course you need to factor in all costs to know what you’ll have left, especially if you’re selling to buy your dream home!
So how much does it cost to sell your home in Dundee?
And the good news is YOU are in control.
There are a range of prices and services for everything you’ll need from Estate Agency to Photography to Solicitors Fees!
And if you do your research, you can get the best service for your budget.
Estate Agent Fees
Estate Agent fees in Dundee typically vary from 0.75% – 2% of the sale price.
That means if you sell for £200,000 your fee can range from £1,500-£4,000.
Those little percentages add up to a BIG difference!
And higher prices don’t always mean more inclusive or better service – I’m writing a guide including all the questions to ask when hiring an estate agent – e-mail me and I’ll send it to you as soon as it’s available!
Bear in mind there will be VAT on top of these prices, although at the time of writing McIntyre Properties are not yet VAT registered so you won’t have to add VAT at 20% to our 1% fee.
What’s Included in Estate Agent Fees
Marketing – This can range from simply posting your listing on their website and in their window to a full targeted multimedia marketing campaign
Viewings – Most Estate Agents will conduct viewings but many will charge for this, so check when you’re hiring your Estate Agent
Negotiation – Again, this will vary from simply passing on details of offers and asking for your instruction, to negotiating the best offer from knowledge of your viewers situations
What’s Not Included in Estate Agent Fees
Solicitors Fees – this is one of the biggest costs of moving (see below for a full breakdown)
Home Report – some Estate Agents include this in their fee, so be sure to ask. The surveyor we recommend charges £400 + VAT
Photography & Videography – again, some Estate Agents do include this, so ask!
Listing – There’s a fee to list your property for sale on e.g. Zoopla, Rightmove or TSPC, usually about £250
McIntyre Properties Estate Agent Fees & What’s Included
At McIntyre Properties the fee is 1% of the sale price and as I said, currently there is no VAT to pay on top of that.
Personalised Strategic Marketing Plan – this is based on a deep understanding of your overall goal for selling and your future purchase as well as the property and market conditions. The highest price and quickest sale are not always the best option depending on your overall goals. I’ll discuss that at your valuation and rest assured, if the highest price and fastest sale is what you need, we have the perfect strategy, whatever the secenario!
Targeted Marketing Campaign – Including targeted social media campaigns to 1000s of buyers, email marketing to our matched lists of buyers and depending on the strategy, we may include printed marketing and other innovative strategies in our campaign
Viewings – We coordinate and schedule your viewings in blocks to build buzz and minimise intrusion (and tidying up!). This also helps us get to know your viewers circumstances so we can negotiate the best offer for you
Negotiation – As mentioned, we’re thinking of your best offer during every viewing and will use this to negotiate the best deal for your property
The fee is deducted from the house sale and sent to us by your solicitor
Your only upfront costs are the Home Report – £400 + VAT and Listing (£250 + VAT)
Other Costs Involved in Selling Your Home
Solicitors fees for selling your house in Dundee vary from £800-£2,500+.
It’s hugely variable depending on solicitor and what comes up in the sale process.
Ask your solicitor if there’s a flat rate and to let you know of anything that could change the cost.
And you can choose a different solicitor even if you list with an Estate Agent that’s part of a solicitor’s practice.
We have trusted solicitors we recommend at McIntyres Properties and their fees typically range from £800-£1,500
Mortgage Balance and Fees
Unfortunately, you don’t get all of that lovely house sale price we get for you!
If you have a balance on your mortgage it gets paid back to the lender
Some lenders will charge fees too
Your solicitor will ask for a redemption figure from the lender that will detail any fees
I recommend getting this information early so you know what you’ll need from the sale price for your onwards move.
Costs to Consider if You’re Buying a New Home
And if all that is not enough, if you’re moving there are additional costs to consider!
Solicitor’s Fees – yes you have another set of solicitor’s Fees for buying your new house. These can range from £500-£1,500
Tax – LBTT – This is a property tax, Land and Buildings Transaction Tax and is tiered based on cost price. There’s currently no LBTT for first time buyers buying a house up to £175,00 (Full details in an upcoming blog on costs of buying a house!)
Many lenders charge a fee to set up your mortgage
They may also require you to cover their legal fees
Be sure to check the small print and if you’re in doubt, ask!
Financial Adviser Fees
If you’re using a financial adviser they may charge a fee too, again, check their terms of business and if in doubt check
It may still be beneficial to use a financial adviser despite their fees as they sometimes have access to more lenders than the ones available to you
To complete the purchase, your solicitor will need evidence that you can cover all fees, so it’s important you’re aware of all your costs.
And of course there are moving and storage fees which I’ll cover in a different blog.
Phew! It’s a lot to consider!
As always, I’m happy to help with your individual situation. You can call or text on 07493033588 to chat.
Or fill in the form below with any questions or to arrange a valuation and we can chat in detail then.
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