Though the primary goal with buying a house is to have a home for you and your family to enjoy, a house is also an investment. And when the time comes to sell that investment, you want to make a profit!
Unfortunately, however, selling a house isn’t free. In fact, it’s wise to plan for the cost to sell a house to equal around 10% of the total home price.
That said, you’ll have a few opportunities to cut costs along the way, especially if you plan ahead. To learn everything you need to know about home selling fees and expenses, just keep reading!
Real Estate Agent Commissions
Though one of the largest home selling fees is hiring a real estate agent, it’s an investment worth making. Because, sure, it’s possible to sell a home by owner, but it’s not generally advisable.
Real estate agents know how to sell a house in the least time for the most money!
TheΒ standard realtor feeΒ is 6%; your agent will then split the commission 50/50 with the buyer’s agent.
Taxes and Fees
The amount of taxes and fees you have to pay will depend on the time of year in which you sell. This is because your taxes are prorated, so your bill will be much higher if your due date is coming up than if you just paid them a month prior.
You’ll also need to pay prorated HOA fees and, in some areas, purchase title insurance for the buyer.
Home Repairs and Staging
If you want toΒ sell your house fast, home repairs and staging are a must. One of the best home-selling tips we can give you is to take the time to properly prepare your home before putting it on the market.
Give it a deep cleaning first. As you clean, make note of any minor repairs and improvements that could be made, then go back through and do them!
For the best results, you should declutter as well. A good rule of thumb is to remove two-thirds of your belongings from every room, paying special attention to personal items such as awards and family photos.
Closing Costs
In most situations, the buyer will pay the majority of the closing costs, which include mortgage fees, home inspections, and the cost of an appraisal.
However, depending on the market at the time you list your home, your real estate agent might recommend offering to pay a portion of the fees. This will sweeten the deal for potential buyers, expediting the sale.
Start Preparing for the Cost to Sell a House Now
When you’re selling a house, it’s easy to forget about all the costs that must be paid before you can make a profit. But with careful preparation, you can still come out on top!
Remember, however, that just because you’re ready to prepare for the cost to sell a house doesn’t mean there isn’t more to do. Don’t worry – we can help every step of the way. To learn more about the process of selling a house, take a look at our blog!
