How Much Does It Cost To Sell a House in Scotland?

HomeReal Estate

  • Author Andrew Mackenzie
  • Published October 10, 2019
  • Word count 424

The cost of moving homes is not cheap. It's best to understand all costs involved so that there are no surprises down the lines. So we have outlined a number of costs that you should be aware of:

Estate Agents

Estate agency fees can range from below 1% up to 3.5%, depending on the value of the property, and your location. They ought to include certain services such as marketing the property, creating floor plans, setting up viewings.

Conveyancing

In order to complete the sale you'll need a solicitor or licenced conveyor. They usually charge £850-£1,500 including VAT at 20%. It is best to shop around and find out what each solicitor or estate agents offers you for their charge. It is not always easy to compare like with like.

Land and Buildings Transaction Tax

This is the Scottish equivalent of stamp duty and is payable on properties costing over £145,000, or £40,000 for second homes and buy-to-let properties. The amount due is based on a tiered system, the more expensive the property the higher the tax.

Home Reports

Sellers are required by law to instruct one for interested parties. A Home Report consists of three separate documents- a property questionnaire, an energy performance certificate and a single survey. The cost of a home report can vary but usually it is dependent on location and property value.

Removal Costs

There is also the cost of physically moving houses which should not be forgotten about. The cost of this can be managed by shopping around using reviews and getting at least three quotes.

You might also want to consider other costs such as locksmiths (changing all the locks when you move in is a sensible idea as the previous owner may have given spare keys to neighbours and relatives ), carpet cleaning (if you are keeping the carpets these may need a good clean especially if there have been pets or smokers in the house you are moving to), cleaners in general (it is preferable to have the whole property given a good clean), mail redirection (essential really and the post office can set this up for you or do it online), broadband installation (also an essential and you will realise that you need it to do most anything including setting up your new energy suppliers etc). So there are a lot of costs with moving houses and it should not be taken lightly. The property market is also seasonal to an extent so if you are selling choose wisely if you can when you put your property on the market.

f you are looking to sell your property, the first thing you'll need is a Home Reports. We are RICS Charted Surveyors specialising in Home Reports across Scotland from as little as £85. Get in touch today to arrange a time to suit you. We offer early morning or evening and weekend appointments. Call us on 0131 608 0175 or email us.

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