The Hidden Costs of Selling a House That Nobody Ever Tells You
Did you know that there’s much more to selling your house than just putting it up for sale? Case in point, selling fees can reach up to 10 percent of the total sale price, and sometimes, it can even go much higher.
There are a lot of hidden costs involved in selling a house that nobody ever tells you until you’ve signed the deal and sold your house.
Make sure to watch out for these possible hidden costs of selling a house so you don’t end up getting
the shock of a lifetime once you’ve turned over your beloved home.
1. Commission fee
Real estate agents charge a flat percentage as commission fee for selling your house. Keep in mind, your real estate agent isn’t the only one who will be taking a percentage. The buyer’s agent will also be charging a flat fee as commission as well.
So, for example, you’re selling a $275,000 property, you could be looking to pay as much as $16,000 to $18,000 in real estate agent commission.
2. Repairs, renovations, and maintenance
The best way to ensure that you sell house fast is to make sure that it looks good.
Between landscaping, yard work, repainting, cleaning, and making sure that the house looks good for as long as it’s not off the market, you could be spending well over a few thousand dollars until you find the right buyer.
3. The costs of home staging
Staging a home isn’t necessary, but it helps a lot.
If you don’t stage your home, you risk not selling it for as high of a price as you want and as fast as you want to.
The average home staging cost can run from anywhere between $600 to $800 before a buyer is found. You could probably even end up spending more as well if your house is on the market for a long time.
4. Inspection and appraisal
Appraisals and inspectors aren’t always paid for by the seller, but it pays to be ready just in case.
All in all, you could be looking at paying nearly a thousand dollars for both, and that’s not including any repair costs involved if in case the inspector finds something that needs to be taken care of first before your house is cleared.
5. Closing costs
Closing costs cover a lot of fees, and in total, could take up as much as 5 percent of the total contract price.
6. Mortgage payoff
Unless you’ve already fully paid off your house before selling it, you’ll have to pay off your mortgage after the sale.
Between the prorated interest rate and the likely prepayment penalty, you’re easily looking at a few thousand dollars worth of fees down the drain and into the pockets of the lender.
As you can see, there are a lot of fees involved in selling a house, which is why a lot of people have second thoughts.
If you would like to skip majority of the fees and most of the hassle, you can try selling with a cash buyer like us. We buy houses cash after a short negotiation period. In a matter of weeks, your house will be sold to us, and you won’t have to worry about it anymore.
We buy houses NJ without troubling you for majority of the common fees involved in house selling and zero repair costs because we buy the property as it is.
For nearly just as much as you’d get in total after listing your house and nearly zero the typical work involved, you can go to a cash buyer today and let them take your property off of the proverbial plate so you can go on your merry way.