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It is no myth that many people wanting to sell their homes are put off by the uncertainty of the open market and fees associated with traditional estate agents. When selling your home, you should expect to pay anywhere between 0.75% and 3.0%+VAT of the agreed price of your home. Therefore, if you sold your home for £300,000 and paid a fee of 3% inclusive of VAT, you’d be parting with £9,000.
With other costs including legal fees, removals costs and stamp duty if you are buying a new home, selling can be expensive. Many homeowners are taking matters into their own hands and utilising e-commerce platforms to sell their home without breaking the bank.
eBay is an e-commerce powerhouse. Whilst you can still use the site to auction off your unwanted clothes and furniture, many are now parting with their cars and homes via the platform too. For a while now, eBay has become a popular place for British expats to sell homes in France and Spain. However, there has been a surge in the number of people selling their family homes in the UK too.
|PayPal charge 3.4%||£10,200|
|PayPal 20p charge||£0.20|
|Final take home||£289,764.80|
|Cost of sale||£10,235.20|
Whilst eBay allows you to sell your own home and cuts out the need for an estate agent, it isn’t always necessarily a cheaper alternative. Selling your home on eBay will incur a one-off £35 charge for the property listing. If your home sells PayPal will charge you 3.4% + a 20p flat charge on the final sale price of your home. Therefore, if your property sold for £300,000, you’d take home £289,764.80 and shell out £10,235.20 in fees. Add on top legal costs – you will need to have a legally binding agreement drawn up – and you could potentially be worse off than having used an estate agent.
Fortunately, there are alternative ways to sell your home online that are not only free, but also eliminate the need for a traditional estate agent. At SOLD.CO.UK we can help you sell your home without spending a penny – we even cover your legal fees – with our complete selling service.
We offer different routes to sale designed to sell your home fast in 30 days or under which are all managed by our expert in-house team.
If the eBay auction format is something that appeals to you as a seller but you wish to avoid the PayPal fees that can eat into your sale profit, our Personal Auction route could be for you. SOLD.CO.UK will manage a 30-day online auction for your property via our own auction platform. We will help you decide upon an undisclosed reserve price, feature your home on Rightmove and promote your home to our database of fully qualified cash buyers. You won’t need to pay us any fees even if your property sells.
Don’t forget, you can always get in touch with us on 0800 566 8490 or book a free valuation online to get the ball rolling.