The Real Costs of Selling Your Home (And How to Avoid Surprises)

Imagine the thrill of selling your home: handing over keys, receiving a large check and continuing on with your life. Before we get caught up in the excitement, let's take a look at what surprises many homeowners: the actual costs of selling.

If you're not prepared, the costs of agent fees and moving vans can add up quickly. Here's a breakdown to help you plan and sell your home smartly.

1. Realtor Commissions

The average real estate commission is between 5 and 6% of the sale price. The buyer's agent fee and the listing agent fee must be equally split.

It is possible to sell a home without an agent. However, the cost may be higher in the end due to the lack of experience needed for marketing, negotiating, and managing documents, inspections, and legal documents.

2. Seller Closing Costs

Closing costs are often thought to only be for buyers. However, closing costs can include legal and title fees.

Escrow fees: To efficiently and professionally manage money and paperwork.

Title insurance protects buyers in the event of a dispute over ownership history.

Transfer taxes – Transfer taxes are imposed on real estate when it changes owners. They vary depending on the city and state.

3. Repairs and Buyer Concessions

Even in excellent condition, a buyer may find unexpected things during an inspection. This could lead to repairs or credit being given in order to make the home more attractive in a competitive market. Sellers may cover all or part of the closing costs for the buyer to make their home more appealing and desirable.

4. Staging and marketing

Do you want to sell your property for the highest price? Presentation is important. Professional home staging and real-estate photography services can increase the appeal of your property, as well as its sale price. The cost of staging services can vary from several hundred dollars to several thousand depending on your home's size and layout. First impressions are important and many home buyers start their search on the internet. Consider this wise investment: Homes that are beautifully presented sell more quickly and for a higher price.

5. Moving Expenses

After your house has been sold, moving is the next major task. If you don't budget for it, hiring professional movers, renting trucks, and requiring storage space can add up to a lot of money. You won't get rich selling your house, but you will avoid stress and have more money in your pocket.

I would be happy to help you if you are thinking of selling and want a breakdown on how much it might cost. Let's sit down and discuss your options.