There are a number of costs and fees incurred when selling a house that you’ll need to factor into your budget when selling your home in Scotland.
It’s best to work out costs involved prior to selling so that there are no nasty surprises further down the line. If you are buying and selling around the same time, costs will obviously be higher, so work out costs involved for both before-hand.
Home Reports were introduced in Scotland in December 2008. Sellers are required to provide a Home Report to buyers or potential interested parties. The Scottish Home Report includes three separate documents; a Property Questionnaire; a Single Survey; and an Energy Performance Certificate (EPC). The cost of a home report is dependent on a number of factors.
Estate Agent Fees
Estate agency fees can range from below 1% up to 3.5%, depending on the value of the property, and your location.
The estate agent charges usually include the following services
Valuation – This involves researching the local market, looking at trends and past sales data. This then need formatting into a comprehensive report.
Floor plans, measurements and photographs.
Write up on your property to entice potential buyers
The installation of a for sale sign.
The organisation of viewings via telephone and online enquiries
Cost of viewing
Marketing the house on the internet
Other costs – estate agency office rental, fleet cars and general advertisement
You’ll normally need a solicitor or licensed conveyor to carry out all the legal work when buying and selling your home. Legal fees are typically £850-£1,500 including VAT at 20%. They will also do local searches, which will cost you £250-£300, to check whether there are any local plans or problems.
If you’re buying and selling a property at the same time your conveyancing fees will be higher, as your conveyancer will need to carry out work for both transactions.
LBTT (Land & Buildings Transaction Tax)
Land and Buildings Transaction Tax (LBTT) 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.
Like stamp duty, it’s tiered, so the amount you pay depends on the price of the property. For second homes and buy-to-let properties, an additional 3% is payable.
If you are moving to a new home don’t forget to factor in moving costs. The cost will vary depending on how much you are moving and how far you are moving. Get two or three quotes and look at customer reviews to choose the most suitable removal firm for your needs.
If you are looking to sell your property, the first thing you’ll need is a Home Report. 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 at firstname.lastname@example.org
Andrew MacKenzie is a qualified Chartered Surveyor with over 20 years’ experience within the Scottish Property market. He specialises in all types of residential valuations including Home Reports, Private Valuation reports and Development Appraisals.
Outstanding service and very quick turnaround from Andrew and the team. Would highly recommend this company for anyone requiring a fast, professional and efficient service.
19:27 03 Oct 23
19:11 09 Jul 23
Thank you Home Report Company, the surveyor who was sent over for our house valuation report was great. It was nice to be able to welcome a well-mannered, friendly and professional person to our home.For those looking for chartered surveyors to carry out a home report or valuation, I highly recommend this company. They have been very helpful, polite and punctual - and made life that little bit easier during a difficult time in our family. Thank you again.
james “TechnixJim” F.
06:43 26 Jun 23
I needed a survey done quick and contacted home report company,Andrew came within 2 days,no messing about and got my survey paperwork next day via email,excellent company,thank you andrew.all the best jim.
18:15 23 Jun 23
I have recently instructed the Home Report Company to complete a survey for me. From my first initial enquiry up until receiving my report I have nothing but high praise. I was given a quote, a prompt appointment was made and the survey completed. Andrew, the surveyor, was very professional and also very smiley and reassuring. He went about the survey with minimal intrusion or fuss and he also liked my dog 😊. Highly recommend.
16:47 09 Jun 23
Andrew Mackenzie from home report company did our home report very professional and polite.This is the second time I have used home report company and mr Mackenzie has done both reports.The price charged was very competitive and by far the cheapest I enquired about, I would definitely recommend the home report company for your home report.
15:34 28 Apr 23
10:58 05 Apr 23
Perfect, exactly what we needed to sell our home, very quick, helpful and at an excellent price! Would highly recommend!
21:36 22 Mar 23
Friendly and professional service. Andrew was very professional and answered any questions I had. I received the completed home report the next day, after first receiving the draft version.
Steve “Steve J” J.
10:47 16 Mar 23
Very friendly and helpful surveyor who produced an honest, factual report. Survey was organised very quickly, was reasonably priced (compared to other quotes) and the report was produced quickly after the survey. No complaints!