Don’t be caught by surprise.
When you sell your home on the traditional market you could end up paying up to 10% of the selling price in fees alone.
This is a list of the most common fees.
Real Estate Commissions
A licensed real estate agent can certainly help you sell the home. They market the home and represent you during the sale.
Here in Texas, most agents ask for a 6% fee. 3% goes to the buyer’s agent and 3% goes to the seller’s agent. That means if you sell a $500,000 home you can expect to pay up to $30,000 in realtor fees alone.
Upgrading and Beautifying the Home
Unless you’re marketing your home as a fixer-upper (at which point you’ll have to sell it for a lot less) you’ll have to take the necessary steps to upgrade and beautify your home. That means making repairs and doing a great deal of maintenance. It may even mean upgrading the home.
Landscaping and staging costs are necessary too. The truth is that many buyers won’t accept anything less than a picture-perfect, turnkey home, even in a tight market.
That’s about 2% of the sale price in most cases. So if you’re selling for $500,000, that’s another $10,000 you’ll have to give up.
Of course, some people are meticulous about home upkeep. If that’s you, then your investment will be minimal at this point. Those who have been neglecting their homes can expect to pay even more, though. Be careful!
Potential buyers often negotiate by asking sellers to pay for closing costs. That means they’re asking you to pay escrow fees, inspection fees, transfer fees, and other costs.
Maybe your real estate agent will negotiate particularly well. If so, your closing costs may be just 3% of the sale price.
That’s $15,000 more dollars on the sale of a $500,000 home.
If your agent doesn’t do such a good job of negotiating then you can expect to pay even more.
Hiring a moving company. Renting a storage unit. Paying the deposit and first month’s on a rental, or paying to buy a new home. Moving is never cheap.
We always recommend assessing your moving costs so you can get a full understanding of what you’ll be getting into when it’s time to sell your home.
Want help avoiding these fees?
You can forgo all these unwanted fees and sell your home fast. We’re all-cash Homebuyers located in Houston, TX. We buy homes as-is and save you a lot of money doing it. No agent fees, no closing costs, no repair costs.
We even help you with moving expenses.
Need to sell? Get a free, no-obligation offer from us so you can crunch the numbers and see what makes sense.