Cost To Sell A House And What’s Involved
Considering selling your house? There are probably a lot of questions you before beginning the selling process. One question which is frequently asked by many sellers is how much is it going to cost to sell my home? Here’s a breakdown of all the costs you may to pay when selling your home.
Staging and home preparation.
Depending on your home you may have to prep your home in order to get top dollar out of your home. Some potential costs including painting (interior or exterior), gardening, repairs, or even hiring a professional stager. Here is a tip: talk to an agent before renovating for your home for sale. There may be things that you were thinking of renovating but it actually won’t add value to your home so there is no need to renovate it.
Land property transfer tax.
If you are buying a new home this can easily one of your bigger expenses. The tax will vary from property to property as it is based on a percentage of the purchase price of the home.
Moving costs. If you are hiring a moving company to move all of your belongings to a new home, then you need to make sure that you budget for that. Depending if you are having someone move for you or you decide that you are going to move yourself and rent a U-Haul the costs will vary.
The legal fees to sell your home will vary depending on the price of your home as well as the law firm you choose. There are some great lawyers with reasonable fees in your area so you should ask your real estate agent for recommendations.
Real estate commission.
The commission varies depending on where you live and what the agent’s commission is. The commission fee is split between the seller’s agent and buyer’s agent. Some sellers are choosing to avoid these fees by doing FSBO (for sale by owner) but there are some responsibilities that come along with FSBO homes. These include negotiations, hiring a contract lawyer, marketing and advertising. If you don’t want to assume these responsibilities, you might want to consider hiring an agent. A real estate agent has a lot of experience in the buying and selling market. These agents know what will work to sell your home in a short amount of time. They have the platforms available to market and advertise your home in order for it to reach the maximum amount of potential buyers. Since they are in the business, real estate agents have a lot of contacts. These contacts include other clients they have who are looking to buy a home or other agents who have clients looking to buy a home.
If you are considering selling your home it is important to know all the potential costs you might encounter during the process.