Getting your house ready for the market is an exciting time. You can dress it up in a way that'll make it look more appealing and make some big money when it sells. There's even a chance that it's worth more than when you bought it if you've made some upgrades since then.
However, the cost to sell a house is more complicated than hiring a real estate agent. Even if you manage to find a buyer in under a month, that doesn't mean they immediately gain possession of it.
Here are some of the costs associated with selling a house.
Selling a Home Fees
Both the listing fee and real estate commission are only two costs of selling a house. There are also the closing costs, any required repairs, and utilities to consider.
Real Estate Commissions
The first of the seller fees you should expect is the commission you pay your real estate agent. This is usually the biggest fee and can range between 5 to 6 percent of your final sale price. Even if you break even on a sale, you'll actually get less than that amount.
Closing costs are another of the costs associated with selling a house. These are the processing fees that are paid to secure a loan. Even though this is mostly the buyer's responsibility, the seller may be expected to pay a brokerage fee or escrow fee.
The person buying your house will pay for the home inspection. However, they are not responsible for the repairs if the sale has not been finalized.
Some things that come up during an inspection may include a damaged roof, faulty plumbing, or even broken window seals. The buyer then has the option to request the seller pay for the repairs or negotiate for a reduced price.
Another thing to consider is the fact that you still need to pay for utilities, even if you're not living there anymore. It's difficult to show off a home if the water and lights aren't working. The good thing is that your payments will be much less since no one is actively using the utilities.
Tips on How to Save
Part of selling your home is preparation and foresight. These are just a few of the tips on how you can cut costs later on:
- Clean and stage your home in advance
- Unplug any non-essential appliances
- Open windows on cool days
- Avoid selling during the winter months
- Do repairs in advance
Know the Costs Associated With Selling a House
The costs associated with selling a house include closing costs, the real estate commission, and much more. The good thing is that most of those smaller fees like utilities come up over time instead of at the very end. If you want to avoid negotiating deals and maintaining the house, you can always use a home buyer.
AZ Home Buyer can help make selling your house easy and quick. We give you a fair price up-front, and you leave the paperwork to us.
Give us a call if you want to learn more about our services.