Have you and your family been thinking about selling your property this season? No one would blame you! The market is HOT right now. However, no one is 100% certain how long this will last. Regardless, now could be the best time for you and your family to take advantage of all the equity you could potentially get out of your home and put a good amount of money into your pockets. Most people think when they’re ready to sell their home that listing with a realtor is the way to put the most amount of money into their pockets. This can be the case but not everyone is aware of all the costs that come with doing such. Before you decide to search the internet or get referred to the most reputable realtor in your area make sure you have a full picture of what it’s going to cost you. No matter if you select to work with a professional real estate agent or sell on your own, you’re likely to run into all of these expenses. We will explore five costs you may not be aware of when selling your house
Commissions and Fees
Along with the traditional commissions that real estate agents charge, there may also be fees charged for the brokerage services and other costs associated with using an agent. Even if you sell on your own, a buyer is likely to be working with an agent, who will take the commission from your profits. These commissions and fees can run into the thousands and are something you may not be aware of when selling your house.
You’ll need to ask yourself if you are willing to make yourself and anyone else in your household invisible, while keeping your home spotless at all times? Despite how much you may wish to sell. Nobody enjoys the hassle of jumping into action and preparing for a showing after a long day at work. Likewise, if your buyer falls in love with your furnishings, they may consider one or several of your beloved possessions as deal-breakers. Along with the agent selling your house, you will need to deal with buyers agents, who will be the ones showing the home. It’s highly likely they’ll call to schedule the appointment during your very important family time.
Marketing is what listing is all about and while yard signs may bring in buyers, the internet is the new highway that brings buyers to your door. Besides the inconveniences of showings, successful marketing comes with costs you may not be aware of when selling your house. In order to compete, online listings require high quality photographs, submitted by a professional photographer. This may also include the services of a professional drone pilot for virtual tours given today’s high demand for this feature on listings. Real estate agents charge commissions as well as other charges. Buyers agents nearly always order inspections.Inspectors are their fee is usually your responsibility as the seller. Appraisers and those handling closings charge fees as well, all adding to the cost to sell.
Prepping your home to be in selling condition may be one of the largest and most stressful of the costs you may not be aware of when selling your house. When the last thing you want to do as a seller is to invest even money into the house,this is just what you may end up having to do. Inspections can deliver some very expensive news, especially in older homes. Structural issues, foundation or even plumbing problems can literally run into thousands of dollars. Any known issues with the home must be disclosed. If you aren’t able to afford the repairs, be ready to deduct the costs from your asking price.
Updates to make your home more attractive on the outside and inside add to the expenses of selling your house with a real estate agent. You’ll need to be on top of any necessary repairs. If you don’t pass the inspection which is usually ordered, you could be required to spend even more on repairs in order for the property to qualify for the mortgage loan. Don’t forget, you need to concern yourself with exterior curb appeal and may be advised to cover the additional expenses of staging your interior. You may even be required to cover the costs for professional photography and advertising the property.
Holding onto a property that is lingering on the market carries costs you may not be aware of. One delay could be caused by your buyer being denied financing. If you’ve moved forward with plans and relocated, holding the property is a burden and adds greatly to the listing costs to expect when selling your house.
Closing costs for the seller are also costs you may not be aware of when selling. While some of these costs may be negotiated in the contract, you’ll be responsible for items such as the transfer tax and title insurance, there are also escrow and closing fees along with any HOA fees, attorney fees, and prorated property taxes. Some sellers also sweeten the deal to attract buyers by paying a credit towards the closing costs.
So What Can You Really Do To Save More Money When Selling?
Selling your house as-is can be one of the best ways to ensure a quick sale and put the most amount of money in your pocket. There are many reasons why someone would want to sell a house as-is. Maybe they are worried about foreclosure, getting a divorce, tired of bad tenants, or they don’t want to make the repairs necessary to sell the house on the MLS.
Showcase The Potential
It’s important to show your potential buyers what can be. With a little love and some elbow grease, the property could become the house they have always dreamed of and it is up to you to let them know. You can even use a simulation program to design, repair, and furnish the space, giving your buyers an idea of what could be after they put in a little work. If your house requires a lot of repairs, renovations, and upgrades, you will have a lot of potential buyers who take one look and walk away, but don’t give up! It is possible to sell your house as-is.
Focus on The Positive
When trying to find a buyer for your house and you want to sell as-is, you’ll want to highlight all of the great things the property offers. Maybe it is in a great location, maybe there is a new HVAC unit, or maybe the schools in the area are some of the best around. If your house isn’t the most aesthetically appealing on the block, make sure to bring your buyer’s attention to what makes the property so great. Be sure to highlight all of the great things about the home so that is what they remember instead of the things that are wrong with it. By highlighting the positive, your buyers will have less time to dwell on the negative aspects of the home. That said, make sure any property defects are properly disclosed so you don’t have to worry about frauding your potential buyers.
Lower Your Asking Price
Sadly, when homeowners choose to list their homes , in order to sell it fast, they will likely need to lower their prices. There might be a lot of competition out there and in order to really get a buyer’s attention, you’ll want to price your house to sell fast. If you have had the house on the market for a long time, this may be the best way to say goodbye to your unwanted house once and for all. Keep in mind that a low price, plus agent costs, commissions, repair costs, and marketing costs may not be the solution you’re after. You may want to sell your house directly to avoid having to also spend money on the sale itself. Keep in mind that a direct sale will help you sell your house as-is and walk away.
Offer A Credit
If the house you want to sell requires a number of repairs, it may make sense to offer your buyers a “credit” they can use to make repairs or fix up the property as they see fit. Many buyers actually like this idea as they will be free to make the improvements to the property according to their personal styles and preferences. Of course, this will take away from what you ultimately receive at the closing table, but it can be a great way to attract more buyers to the property.
Find A Direct Buyer
The fastest and easiest way to sell your house to a direct buyer who is ready to purchase the property as-is. Working with an agent can cost a lot of money as can the repairs that are required can add up to a small fortune.
Selling As – Is Direct To A Home Buyer vs. Listing With A Local Real Estate Agent
Even in a seller’s market, it’s smart to look at your options and see what will actually help you best reach your goals with the sale of your house. While you may be able to get a higher “top line” sales price listing with a local real estate agent, that doesn’t always boil down to more money in your pocket or less headache. Dive into the details below to compare your options.
|Selling w/ An Agent||SOLD As- Is To A Home Buyer|
|Commissions / Fees:||6% on average is paid by you, the seller||NONE|
|Who Pays Closing Costs?:||2% on average is paid by you, the seller||NONE – We pay all costs|
|Inspection & Financing Contingency*:||Yes, sales can fall through||NONE|
|Appraisal Needed:||Yes, the sale is often subject to appraisal||NONE – We make cash offers|
|Average Days Until Sold:||+/- 91 Days||IMMEDIATE CASH OFFER|
|Number of Showings:||It Depends||1 (Just Us)|
|Closing Date:||30-60 +/- days after accepting buyers offer||The Date Of YOUR CHOICE|
|Who Pays For Repairs?:||Negotiated During Inspection Period||NONE – We pay for all repairs|
Work The Numbers And See Which Way Helps You Get There…
Here at First State House Buyers we won’t be able to offer you full retail value for your house… but we also offer other benefits that the traditional house sale route can’t offer.
From offer to close and cash in your hand in as little as 7 days
You can get rid of the headache of that property fast and avoid paying any more utility payments, tax payments, insurance payments, mortgage payments, you get the drill. If you list your house and wait 90+ days to close… you have to figure in all of the costs of holding that property during the time you have that property listed and are waiting for the property to close.
Don’t worry about fixing anything up or cleaning your house again and again for buyer after buyer
We don’t care how dirty your house is (we’ve seen worse!) or how many repairs are needed (a complete fixer? great! we love projects)... we’d like to make an offer on your house. This saves you time and money that you can keep in your pocket.
Don’t worry about paying those pesky closing fees (we’ve got you covered)
Because we are a full-service professional home buyer, we make it easy for you. We pay for all of the closing costs. What we offer you is what you get (of course minus any mortgage payoff or other encumbrances on the property). Pretty refreshing eh?
So when you add up the time you could save by working with First State House Buyers, the no-hassle experience, and the money you’ll save on commissions, fees, and holding costs while you wait to sell the traditional route… for many area homeowners selling to a professional house buyer is the best viable option.
Is it for you?
See for yourself and get a fair all-cash offer on your house today.
Just fill out the short form below or give us a call at 302-283-9582 and let’s chat! Our process is simple and you can close on the date of your choice. You have nothing to lose by getting an offer (no obligations – no pressure). But you could potentially lose thousands of dollars or months of your time by not testing us out and requesting your FREE house offer below.