When you list your home for sale, you're probably thinking that what the home sells for...is how much $$$ your going to make. Not quite. You see, selling a
THE COST OF SELLING A HOME
When you list your home for sale, you're probably thinking that what the home sells for...is how much $$$ your going to make. Not quite. You see, selling a house does not come without costs.
Selling a home can get expensive, especially when you considers all the outside factors that go into selling a home. Your local real estate agent can help you understand the anticipated and expected costs associated with selling a home. (especially since many costs are dictated by where you live in the U.S. and other factors),
As a seller you can typically expect to pay these important items:
Home preparation / repair costs - For example, cleaning the carpets, expense of repairs needed to get your property looking it's best before putting it on the marke
Seller concessions - This depends on your buyer's need for assistance with closing costs, etc. (Typically 1-3% of the purchase price...but can NOT exceed the Total Closing Fees )
Repair costs - This is largely determined by the items called out from the inspection
Home Owners Warranty Plan - Covers the major "mechanical s" (A/C system, Water Heater, Dishwasher/Dryer, etc.).. Estimate about $600 for a basic plan
Agent Commission -Seller pays Buyer AND Seller commissions...(6% is the standard fee).
Pro-Rated Home ownership Expenses - Taxes, Insurance, HOA's, etc.. *ususally split between buyer/seller
Closing costs - Estimate about (1-3%) - Sellers end up paying a fair share of the costs when it comes to the home sale/purchase.
Of course, much of this is determined on the market conditions (is it a sellers market or a buyers market), whether sales activity in your neighborhood is strong or week, negotiated terms between buyer & seller, the financial situation of your buyer, and other variables.
So....just remember, the sales price of your home is the gross amount you start with....then deduct all of the fees and associated sales costs, (and dont forget the payoff of any existing mortgage)...and the remainder of money - The NET PROCEEDS - will be all yours! Use it wisely!
*** My goal is to make your home SELL FOR THE MOST MONEY, in the SHORTEST period, with the LEAST amount of hassles....or find you the RIGHT HOME, at the RIGHT PRICE, and the RIGHT TIME*** I am pas....