When selling a home, many homeowners focus too much on the asking price without considering what they’ll actually receive after all expenses are deducted. The gap between these two figures can be surprisingly large, yet it’s rarely discussed upfront during the sales process.
1. Estate Agent Commission
Estate agents typically take anywhere between 1.5% and 3% of whatever your house sells for, which adds up fast. Say you’re selling for £200,000, that’s potentially £6,000 straight out of your pocket before you’ve even started packing boxes. With a cash sale though? Zero commission fees because there’s no agent involved.
2. Extended Mortgage Payments
Here’s what really gets people. The average house in the UK takes about 6 to 9 months to sell through the traditional route, sometimes even longer if you’re unlucky. That’s half a year or more where you’re still paying your mortgage, which could easily be another £3,000 to £5,000 down the drain. Companies like SellTo take a more direct approach meaning they typically wrap things up in 2 to 4 weeks.
3. Solicitor and Legal Fees
Conveyancing costs usually run between £1,200 and £1,500. A lot of cash buyers actually cover these for you, which is pretty handy when you think about it because that’s another expense you don’t have to worry about. We Buy Any House and similar services often include this as part of their offering.
4. Pre-Sale Repairs and Maintenance
Estate agents love telling you what needs fixing before you can list. New carpets, fresh paint, sort out that dodgy boiler. Before you know it you’ve spent a fortune trying to make the place perfect for viewings. Cash buyers take properties as they are, no questions asked. Property Solvers, for instance, will buy homes in pretty much any condition.
5. Ongoing Bills While Waiting
Council tax, gas, electric, water, insurance, general upkeep. These don’t pause just because you’re trying to sell. Six months of that lot? You’re looking at well over £1,500 easy.
What It Actually Means
So let’s do the maths on that £200,000 house. Traditional sale? You could be spending £12,000 or more when you add everything up. Yeah, cash offers are usually around 80-85% of market value, but when you factor in all these hidden costs the gap’s not nearly as big as you’d think. Plus you get certainty and speed, which when you’re stressed about moving is worth quite a bit really.
