Understanding Estate Agent Fees When Buying a House in the UK

Date Published: 18/12/2023

Hello, and welcome to another informative blog from Eastaway Property! Today, we’re addressing a common query: What fees do I pay the estate agent when buying a house?

The Short Answer: Good news for buyers in the UK property market – as a buyer, you generally do not pay estate agent fees. These fees are typically the responsibility of the seller.

What Are Estate Agent Fees? For sellers, estate agent fees can range from 0.9%-3.6% of the property’s selling price, depending on the agreement type and the agent’s services. These fees usually cover services like property valuation, marketing, organizing viewings, and negotiating sale prices.

What About Buyers? While buyers don’t pay estate agent fees, there are other costs to be aware of, such as stamp duty, conveyancing fees, Identity checking fees by both estate agents and solicitors and possibly survey costs. These fees are separate from the estate agent’s commission and are part of the overall cost of buying a property

Buying Agents – A Choice for Buyers: Interestingly, as a buyer, you can opt for a buying agent. These professionals work for you, the buyer, to find properties that match your criteria and negotiate terms. However, employing a buying agent will involve their fees, separate from the estate agent’s fees paid by the seller.

Eastaway Property can refer you to some excellent buying agents in our local area, including Garrington, Stacks and Richard Clowes . Don’t forget to mention Eastaway Property when contacting them.

Payment and Timing of Estate Agent Fees: For sellers, fees become due when contracts are exchanged but are not paid until the sale is completed. The payment is usually handled through the conveyancing solicitor, who pays the estate agent from the completion monies.

Why Register with Eastaway Property? As a buyer, while you don’t pay estate agent fees, partnering with the right property professionals can make a significant difference. By registering with Eastaway Property, you gain early access to our portfolio of properties, often before they are listed on the open market. This advantage can be crucial in the fast-paced UK property market, allowing you to find and secure your dream home more efficiently.

So, whether you’re stepping onto the property ladder for the first time or looking to move, let Eastaway Property be your guide and ally. Register with us today and stay ahead in the property search game!

CLICK HERE to register as a buyer.

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Disclaimer

The information contained in this article is provided for general information and guidance only and should not be relied upon as a substitute for professional advice. While Eastaway Property takes reasonable care when preparing its content, we make no representations or warranties, express or implied, as to the accuracy, completeness, reliability, suitability or continued availability of any information contained within it. Information may change after publication, including legislation, regulations, government guidance, property market conditions, prices, interest rates, tax rules, local information, services and third-party information. Readers should always check current information and obtain appropriate professional advice before making decisions, entering into transactions or carrying out work. Nothing published within the Eastaway Property blog constitutes legal, financial, mortgage, tax, conveyancing, surveying, structural, planning, building, electrical, gas or other specialist professional advice. Any gardening, home maintenance, DIY or similar content is general guidance only. Work requiring specialist knowledge, qualifications or appropriate safety precautions should be undertaken or assessed by a suitably qualified professional. Property values, market commentary, pricing observations, timescales and opinions are general in nature. Every property, transaction, market and individual’s circumstances are different. No information contained within the blog constitutes a valuation, guarantee of value, prediction of future performance, or guarantee that a property will sell, achieve a particular price or complete within a particular timescale. References to third-party websites, businesses, products, services, schools, transport, amenities or other external information are provided for general information and convenience only. Eastaway Property does not control third-party information and does not accept responsibility for its accuracy, availability, content or continued relevance. Inclusion of a third party does not necessarily constitute an endorsement or recommendation. To the fullest extent permitted by law, Eastaway Property Services Limited accepts no liability for any loss, damage, cost or expense arising from or connected with the use of, or reliance upon, information contained in its blog or any third-party information or website referred to within it. You are responsible for verifying information relevant to your own circumstances and for obtaining appropriate independent professional advice where required. Information is correct to the best of our knowledge at the time of publication.