Know about the hidden cost while selling a property

Hidden Charges in Buying or Selling a House

Buying a property is a tedious task but more complex is the additional charges that you need to pay apart from the sale price of the property. Not many people are aware of the fact that you also need to pay additional cost of selling a house

Some hidden charges are mentioned below:

  • Foreclosure charges: Is the loan payment of the property that you want to sell in process? If yes and you decide to prepay the loan to prevent any issue during the sale process, you might be charged foreclosure charges by the bank for prepayment of loan.
  • Home improvement cost: Now before you put your property in market you might have to put it in for renovation, such as your Kitchen or bathroom. This helps you to achieve the price you want for your property
  • Estate Agent fees: One of the major costs comes in the form of fees you are paying to your Estate Agent. Commonly this comes in between 1% to 3% of the total sale price. In most cases they provide, Professional photos, a floor plan, an accurate market valuation and a lot of things.
  • Conveyancing fees: The transfer of legal title of property to the buyer is conveyancing. The three options of conveyancing are, Solicitor, a conveyancer and sometimes people generally do conveyancing themselves.
  • Energy performance certificate: People who are selling their property need to show the buyer EPC (Energy Performance Certificate) which confirms energy efficiency rating of house being sold. The property is rated in ranges from A to G where; A (The most efficient) and G (The least efficient).
  • Removal cost – if you were living in the property, you might have to hire the removal services to shift to a new place before putting the house on sale.


Beau Martinez

Beau Martinez

Oliver Beau Martinez: Oliver, a home security expert, provides recommendations on security systems, safety tips, and ways to make homes more secure.