Are there any fees or hidden costs associated with an instant cash sale?

An instant cash sale should be based on a clearly documented offer showing what you will receive and which costs, if any, are your responsibility. The buyer’s agreed purchase price is separate from expenses connected with your own circumstances, such as repaying a mortgage, resolving legal issues or obtaining independent advice.

Before accepting an offer, ask for a written breakdown covering:

• the agreed purchase price;
• any amount intended to settle a mortgage, secured loan or other charge registered against the property;
• conveyancing or solicitor’s costs and who is expected to pay them;
• any deductions relating to outstanding rent, service charges, council tax or utility accounts;
• costs arising from probate, leasehold paperwork, planning matters or title defects; and
• the final amount expected to reach you on completion.

Some expenses are not created by the cash buyer but may still affect the amount you retain. For example, a lender may require the outstanding mortgage balance and redemption administration costs to be paid from the sale proceeds. If the property is leasehold, the managing agent or freeholder may charge for information, notices or the transfer of the lease. These charges should be identified early rather than appearing unexpectedly at the point of completion.

Your own solicitor can also charge for reviewing the contract, checking title and completing the legal transfer. The amount depends on the work involved and the complexity of the property. A probate sale, a separation, multiple owners or an unresolved restriction on the title may require additional legal work. If you instruct a solicitor independently, confirm their fee structure and whether their quotation includes searches, identification checks and dealing with the lender.

A reputable cash-sale arrangement should make clear whether the buyer is contributing towards any agreed legal or administrative costs. Do not rely on a verbal explanation alone. Request the offer, proposed deductions and any arrangements concerning professional fees in writing, then compare them with the completion statement prepared by your conveyancer.

Be cautious of documents that contain broad wording allowing unspecified deductions, or of requests for upfront payments before the transaction is properly documented. Ask what a payment is for, who receives it and whether it is refundable before transferring money. Independent legal advice is particularly important where the property is in probate, there are arrears, or another person has an ownership interest.

In practical terms, the figure that matters is not simply the headline offer but the net amount after legitimate liabilities and agreed transaction expenses have been settled. Understanding that distinction allows you to compare an instant cash sale with an estate-agent sale on a like-for-like basis and identify any cost that has not been explained.