How Much Does It Cost to Sell Your House?
If you are planning to sell your home, you want to know how much it is going to cost to close the deal. When homeowners start the selling process, they often do not realize that selling a house costs money. It is important to know about all the fees and expenses in order to plan to purchase the next property. Here is a list of the most common expenses that home sellers usually face.
Real Estate Agent Fee
A real estate agent usually gets 5–6% of the property purchase price after closing the deal. In most cases, it is the biggest expense that most home sellers have. Therefore, if you are planning to work with a realtor, always ask them about their commission fees before hiring. There are some realtors who are ready to negotiate their fees. Also, keep in mind that it is important to agree on commission terms in writing.
If you are planning to sell your property, there are most likely some things you need to fix and repair in order to increase the value of your home and your chances of selling your home faster. Even if your property is in good condition, you may still need to do some minor cosmetic work, like decluttering and painting. You may also think about renovating your kitchen and bathrooms because it can significantly increase the price of your home. There are also some big repairs that can cost you a lot and that you cannot avoid. These usually include repairing a damaged roof or replacing bad plumbing.
Even though a presale home inspection is optional, it is recommended. It can cost up to $400, but it is really worth it because an inspector will help reveal significant mechanical and structural problems before a potential home buyer comes with their own inspector. Getting a home inspection allows you to find out about the repairs you need to make before a potential buyer demands them later or asks you for a lower price.
Home staging is the process of preparing your home for selling and making it more attractive for potential buyers. Staging is what you do after you are done with cleaning, decluttering, and repairing your property. The purpose of home staging is to make a home as appealing as possible. You can do it yourself or you can hire a professional stager. According to the National Association of Realtors, the median cost of home staging is almost $700.
Closing Costs and Extra Fees
There are also some other costs that many sellers forget about. Usually, they include property taxes, homeowners association fees, transfer taxes, escrow fees, brokerage fees, courier fees, attorney fees, and others. Even though some of these fees are negotiable or avoidable, you still need to be prepared and aware of them.
Sell Your Home to a Real Estate Investment Company to Avoid Most of the Costs
All the fees mentioned above only apply if you decide to sell your home the traditional way with the help of a realtor. Fortunately, there is another method that will help you avoid most of the costs and make the selling process much cheaper. It is the method of selling your property to a cash buyer or home investor. Cash buyers purchase homes in any condition or location and pay home sellers cash.
Unlike selling your home with the help of an agent, working with a home investor means that you do not have to make any repairs, which will help you save a lot of money. In addition, there are no real estate agent fees, closing costs, home inspection fees, or other unnecessary costs and fees.
If you are selling a home in Stockton, CA, and you want to sell it immediately, Frank Buys Houses is ready to help. We purchase all types of properties and close the deal in less than two weeks. All you need to do is to go to our website, fill out the form, and wait for our call. If you have any questions about how it works, feel free to contact us at any time.