When selling your home, you must do all you can to make a great first impression on potential buyers. They may not even bother looking inside if the exterior fails to strike their fancy. Dynamic
Selling A House In 2022? Know The Associated Fees And Costs
Dated: June 14 2022
In any business, there are associated costs with doing business. These costs can include purchasing inventory, paying employees, and taxes. Similarly, you'll also incur various fees and costs during the home selling process.
While a cunning realtor may hide some fees, only to bring them up in the end, you need to research all costs beforehand and budget appropriately. By knowing what to expect, you can plan and make the process as smooth as possible.
This blog lists possible fees and closing costs associated with selling a house in 2022. So, if you're considering putting your house on the market, read on!
Commissions for the Real Estate Agent -
The most well-known fee associated with selling a home is the commission for the real estate agent. This is typically a percentage of the final sale price and is paid by the seller at closing. For example, if you sell your home for $300,000 and your agent's commission is 6%, you'll owe them $18,000.
Staging and Preparation Fees -
When it comes to a home sale, presentation matters! If you're working with a professional stager, they may charge a fee for their services. This fee can vary widely, depending on the services rendered and the size of your home.
Home Upgrade and Repair -
Unless you're selling your home as-is, you'll need to do some upgrades and repairs before listing. These costs can add up quickly, so factor them into your budget.
Home Inspections -
Most buyers will require a home inspection before finalizing the purchase. The inspection cost will be passed on to you, the seller. Depending on your home's age and size, an inspection can cost anywhere from $200 to $500.
They may require an appraisal if you're selling your home through a bank or other lending institution. The appraised value of your home will determine how much money the bank is willing to lend to the buyer. An appraisal typically costs between $300 and $400.
Closing Costs -
Transferring real estate to another person costs money for a seller. These costs can be anywhere from 2% to 7% of the sale price and are typically paid by the seller.
Home Warranties -
A home warranty is a service that covers the repair or replacement of appliances and systems in your home. Many buyers will request that the seller purchase a home warranty, which can cost between $300 and $500.
Selling your home is a big decision with many associated costs. Be sure to budget for these fees so you're not caught off guard during the selling process!
Home selling fees and costs can be confusing, but you don't have to worry. We offer an instant home valuation at Dynamic Properties / eXp Realty, serving Pine, CO. We help you get an idea of your home's worth before putting it on the market. Our experienced real estate agents will work diligently to get you the best price for your property.
Get instant property valuation today!
Driven to Be Her Best. Personal mission statement to serve the needs of her clients and make a difference in their lives. Sharon started in real estate with a very simple philosophy: 1) Know your mar....
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