Costs In Selling A Home

There are several costs in selling a home, they range from renovating and landscaping to closing costs and real estate brokers costs. The following are some of the more common costs involved in selling a house.

Real estate agent commission

TA real estate agent typically charges a percentage of the purchase price to sell a house. It is important to understand that you are not required to pay the real estate agent this commission in full prior to closing. Instead, it will be deducted from your sale proceeds when you receive your check at the closing table and should be cut by the title company.

Home inspection fee

When selling a home, you will need to use a licensed professional to inspect your property to give an unbiased report on its current condition. This inspection is generally completed within a couple of days. The final report will include suggestions for any issues that need to be corrected before selling.

Home repairs

Many homes require some type of simple or significant repairs in order to make them marketable. These could include roofing tiles, fixing holes in the walls, painting over an old color scheme, or cleaning up the yard.

Many people fail to account for their closing costs when selling a home. These costs for home buyers include some types of fees such as: appraisal, homeowners insurance title, mortgage origination, lender, escrow, pest inspection, attorney, and local transfer taxes. These costs are associated with the sale of the home so therefore they will be included in your overall closing costs, even though they are a mix of various fees from multiple parties.

When purchasing your home, it is important to factor in all of these costs so you can manage your finances properly. Know the 5 easy steps to buy your dream home and get ready for a financial commitment that you should feel comfortable with. Get in touch with Mortgage Quote today for more guidance on finding the right loan to buy a new property before you put your current one on the market.