How much does it cost to sell a house in Scotland?

Selling a house comes with its fair share of costs. These include standard costs that come along with every sale including home reports and estate agent fees.

The property industry has its own cost ecosystem. The prices of related selling costs are set so that fees are fairly manageable in the grand scheme of things. However, it’s important to understand each cost before you list your property on the market. Below, we’ll break down the main expenses to consider when selling a house in Scotland.

Solicitor fees

When selling a house, you’ll need to hire a solicitor to handle the legal aspects of the sale. This includes preparing contracts, dealing with the transfer of ownership, and ensuring all the necessary legal checks are completed. Solicitors’ fees can vary depending on the complexity of the sale, but in Scotland, you can typically expect to pay between £800 and £1,500. Some solicitors charge a fixed fee, while others may charge based on a percentage of the sale price, so it’s worth comparing quotes.

Home report fees

In Scotland, it’s a legal requirement for the seller to provide a home report before marketing their property. The home report includes a single survey, an energy performance certificate (EPC), and a property questionnaire. The cost of a home report depends on the size and value of the property, but it generally ranges from £400 to £700. Make sure you budget for this upfront expense as it’s essential to get your property listed.  Read more about home reports.

Hiring a removal company

Once you’ve sold your property, you’ll need to arrange for your furniture to be moved to your new home. Hiring a removal company can make the process much smoother, especially if you have a lot of furniture or heavy items. The cost of hiring a removal company will depend on the distance of the move, the amount of belongings, and any additional services you require, such as packing. On average, you can expect to pay between £400 and £800 for a professional removal service.

Capital gains tax

If the property you’re selling is not your main residence, you may need to pay capital gains tax on the profit you make from the sale. The amount of tax you’ll owe depends on your income tax bracket and the gain you’ve made. For basic rate taxpayers, the rate is between 10% and 18% for residential property. For higher rate taxpayers, it’s between 24% and 28%, depending on when you sold the property.

Conveyancing costs

If you haven’t bought or sold property before, you may not have come across the term conveyancing. Conveyancing refers to the legal process of transferring ownership of a property from one person to another.  In Scotland, this is usually handled by your solicitor as part of their overall service. While solicitor fees generally cover conveyancing, it’s worth confirming this when you hire them.

Estate agent fees

Estate agents play a key role in selling your property. They market your home, arrange viewings, and negotiate offers on your behalf. Estate agent fees in Scotland are usually charged as a percentage of the final sale price, typically between 1% and 3%. For example, if your property sells for £200,000, you could pay anywhere from £2,000 to £6,000 in estate agent fees. Some estate agents offer fixed fees, so it’s worth shopping around to find the best deal.

Don’t let costs hold you back

Don’t let any of these fees put you off selling your house, unless of course you’re not looking at making much profit on the sale. These costs are all part of the process, and with careful planning, you can budget accordingly to avoid surprises.

Average cost breakdown

To give you a clearer picture, here’s an estimate of the average costs involved in selling a house in Scotland:

Solicitor fees: £800 – £1,500

Home report fees: £400 – £700

Removal company: £400 – £800

Capital gains tax: Varies (18% or 28% depending on tax bracket)

Conveyancing costs: £500 – £1,000 (if not included in solicitor fees)

Estate agent fees: 1% – 3% of the sale price

For a property selling at £200,000, the total costs could range from around £4,050 to £10,000, depending on the specific services and fees involved. It’s always a good idea to get quotes and advice tailored to your circumstances to ensure you have an accurate understanding of the costs. By factoring in these expenses and planning ahead, you can navigate the selling process with confidence and maximise the profit from your property sale.

How much does it cost to sell your house with Fastbuy Properties?

When selling a house with us there are no estate agent or solicitor costs to factor in, making the process that much cheaper. We buy all kinds of properties and can assure you of a guaranteed sale that will go through quickly.