Are there any fees or costs involved with accepting an instant cash offer?

Accepting an instant cash offer does not automatically make the sale cost-free. The amount you receive depends on which expenses are included by the buyer, which liabilities attach to the property, and whether you choose additional professional services. The key figure to establish is your net proceeds: the cash offer less any agreed deductions and costs that remain your responsibility.

Costs that may arise include:

• Solicitor or conveyancer charges: You will usually need a qualified conveyancer to handle the contract, title documents, enquiries and completion. Ask whether the quoted fee is fixed, whether VAT is included, and what happens if the transaction does not reach completion.
• Leasehold administration costs: Selling a leasehold flat can involve fees for a management information pack, notice of transfer, notice of charge or registration with the managing agent or freeholder. Ground rent, service charge and other sums due under the lease may also need to be brought up to date.
• Property-related arrears: Outstanding service charges, council tax, ground rent, utilities or management fees can affect the amount paid on completion. These are liabilities connected with the property or your period of ownership, rather than a fee for making the cash offer.
• Tax liabilities: A sale may have tax consequences in particular circumstances, such as where the property is not your main residence, has been used as an investment, or forms part of an estate. Tax treatment depends on your ownership and personal circumstances, so obtain advice from a suitably qualified tax professional before relying on the net figure.
• Probate and legal administration: If the property belongs to an estate, there may be costs for obtaining or dealing with a grant of representation, administering the estate and establishing who has authority to sell. These costs are separate from the property buyer’s offer.
• Independent advice: You may decide to instruct your own solicitor, surveyor, accountant or financial adviser. This is optional in some transactions, but independent advice can help you understand the contract, deductions and tax position before you commit.
• Moving and storage: Removal services, storage, cleaning or disposal of unwanted contents are normally personal selling expenses. They should be budgeted for if the property must be cleared before completion.

An instant cash offer can also be presented in different ways. One buyer may quote a purchase price and list deductions separately; another may state the amount expected to reach you after agreed costs. These figures are not directly comparable unless they cover the same items. Request a written breakdown showing the offer price, every deduction, any costs paid by the buyer, and the estimated amount due to you on completion.

Check the written terms for conditions that could change the amount after acceptance. These may include title defects, missing documents, restrictions on the register, leasehold information, occupier arrangements or issues identified during legal checks. A buyer may also reserve the right to revise an offer if material information was inaccurate or omitted. This is different from an unexplained charge, so ask for the reason and evidence for any proposed adjustment.

Before signing, ask these practical questions:

• Is the stated amount the gross purchase price or the expected net proceeds?
• Which conveyancing and administrative costs will the buyer pay?
• Are there any charges if the sale does not complete?
• Could the offer be reduced, and under what specific circumstances?
• Are VAT and third-party fees included in the quoted legal costs?
• Will leasehold, probate or title-related expenses be deducted from the proceeds?

Do not rely solely on a verbal assurance that there are no additional costs. Have the financial terms checked by your conveyancer and compare the final net proceeds with the amount you would expect from another sale route after its own expenses. This gives you a clearer basis for deciding whether accepting the instant cash offer is financially appropriate.