A shortage of homes for sale gives sellers the upper hand in housing markets, which means they can inflate the price of their property. Even if you intend to rake in a large amount of cash, the cost of selling your home will eat into your proceeds.
Here are some expenses you can expect to pay when selling your house. Keep in mind some of these costs are negotiable, but you should expect to foot part of the bill because buyers are looking for incentives.
Real estate commission is typically the most expensive fee a seller pays, which is usually 6% of the total sale price. For example, if you sell your property for $250,000, you may end up paying $15,000 in commissions to your real estate agent and the buyer’s agent.
These costs are probably making you reevaluate your sale. Is it worth selling your house if your agent plans on keeping part of the profit? The answer is yes. Fortunately, many of them are willing to negotiate a lower price. They’re more willing to accept a lower rate if they expect your property to sell fast or if its value is high, and if the local market is stable.
Some homeowners try to dodge these fees by conducting a for-sale-by-owner (FSBO) sale. Although you may save money, it may not be worth the extra effort you’ll need to put into your sale. Conducting a sale with the guidance of an agent is difficult enough, and if you’re not well-versed in the market, you might struggle.
Only 7% of home sales were FSBO sales in 2018, according to the National Association of Realtors (NAR).
Home Staging Fees
Home staging is the preparation of a house for sale in the real estate marketplace, and it’s a popular method for increasing the selling price of your property. Prospective buyers want to envision what a house could look like once they move in. It’s worth investing in cosmetic repairs, such as a fresh coat of paint and new flooring.
Some sellers skip staging because they don’t see a point in spending money on a property they no longer want. However, you don’t have to break the bank to make your property look appealing. Twenty-eight percent of agents report they stage houses using less than $400, according to NAR.
If you’re willing to go the extra mile, you can even hire a professional home stager. They have an eye for detail, and they do what’s necessary to boost a home’s best features while minimizing its less-desirable attributes. Stagers can repurpose vacant rooms in a way you wouldn’t have imagined.
The cost of a professional stager depends on the size of your home and the length of time it sits on the market.
Contact Texas Sell Now
Even though selling your house can give you an adrenaline rush, the costs associated with it makes the experience less fun. If you live in Fort Worth, Texas, you can sell your property to Texas Sell Now quickly for an all-cash offer. We take houses in any condition, so contact us today.