Typical Costs When Selling Your House

Costs When Selling A House2020-02-11T13:08:50-05:00

Typical Costs When Selling A House

*Seller’s Guide Below*
In this post we will cover the typical costs you can expect to incur when selling.

Upfront Costs:

  1. Update, Refresh & Repair. If your house is lacking modern updates, and you are trying to get top dollar, you are going to need to put some money into the house to address certain areas. Depending on how many updates the house needs, we can discuss if certain updates are cost effective or not. Refreshing the house by pressure cleaning, adding a fresh coat of paint, cleaning or rejuvenating flooring, installing new fixtures, adding fresh mulch to landscaping, deep cleaning and repairing deficient items will certainly go a long way.
  2. Pre-Listing Inspections. Home inspectors typically have pre-listing inspection options. By doing a pre-listing inspection you will be able to address minor or major issues before the house hits the market. When buyer’s find undisclosed deficiencies it makes them wonder what else is wrong. A general home inspection and roof inspection is recommended. If it has been a while since the A/C has been serviced you may want to have a company service and check that the system is operating properly. Expect to spend around $250-$550. 

Closing Day Costs:

    1. Marketing & Sales Fee to Broker. This fee is a percentage of the final sales price. The fee amount is based on a combination of factors that have proven to get sellers a top dollar return on his or her property. The seller is paying for expertise, as well as peace of mind. The expertise is a mixture of professional knowledge, time and resources. Selling a house is a complicated and time consuming endeavor. Studies have shown that certain resources & techniques help the Realtor® achieve an average sale price that is anywhere from 6% to 19% higher than that of what For Sale By Owner’s (FSBO) achieve in a given area. Our residential exclusive listing agreements are typically for 6 months. (This gives me the ability to sell your property 2-3 times if need be. Not all purchase contracts make it to the finish line.) My fee will range from 3% to 6% depending on representation type and marketing time. Ask me how you can qualify to pay a lower fee on the final sale price I produce for your property.
    2. County Property Taxes. Because property taxes are paid in arrears, the seller will be responsible for the taxes from January 1st of the current year until the day of closing. The amount is typically calculated using the previous years tax bill.
    3. Broker Transaction Fee. This fee, like the majority of national and local real estate companies, is what I like to call a “quality control” fee. This fee is for the transaction coordinators within the company who review all of the contract paperwork that comes in, and confirms all required items are filled in and signed correctly. Our fee may be the lowest in our area at $295.
    4. Transfer Tax on Deed. This fee is a sales tax on your deed. The fee is determined using the final sales price and a multiplier of .007. So if your house sells for $250,000, your deed sales tax will be $1,750.
    5. Home Warranty. In an older house we usually recommend that the seller offer a home warranty with the sale of the house. A home warranty gives the buyer peace of mind knowing that major appliances, plumbing systems, electrical systems and other items in the house will be covered by the warranty for the first year. Home warranty plans typically start around $400.
    6. Seller Closing Credits. Most instances of seller closing credits are for repairs that are found during a buyer’s inspection. A seller may not be required to make a repair, depending on the purchase contract used, but the deal may hinge on it. Also, every now and then a buyer comes along who may need a little help with closing costs. Buyer’s are typically spending thousands of dollars on their inspections, closing costs and down payment and may need some assistance with closing costs to get the transaction closed. The seller is certainly under no obligation to offer such concessions, but if this is the only offer you have received, and the house has been on the market over 30 days, you may want to consider it.
    7. Miscellaneous Fees. Wire, courier and handling fees are pretty common with these transactions. If the seller is out of the area when the closing takes place, they will need to send back original documents to the closing agent. If they want the funds wired to their accounts there is a wire fee. If anything needs to be recorded with the county those fee’s would be added as well. These fee’s are typically $25-$100 total.

 

Total Cost To Sell Your House:

I am happy to give you an estimate of the total cost to sell your house and what you will potentially walk away with after the sale. First I need to perform our in-depth Comparable Market Analysis to determine what I feel the highest sale price could be based on the current market trends and the condition of the house. I can then plug in the projected sale price and all expected sales fee’s into our seller net sheet and calculate your total net. I do this at no cost or obligation to you.

To get more information about selling your house please don’t hesitate to call me. I would be delighted to discuss your situation further.

Be sure to click the green button below to get an instant Market Analysis of your house and then fill out the request form below to receive your complimentary Seller’s Guide today!

Get the ‘Seller’s Guide’ below!

Seller’s Guide: Our Guide Offers The Following:

  • Our company information.
  • Real estate services we offer.
  • What you can expect during the selling transaction.
  • How we represent the sellers interest.
  • The type of service and marketing tools we offer.
  • Custom marketing package information.
  • Global marketing package information.
  • Tips to prepare the house for showings.
  • Common repair items to check for.
  • Listing activities we perform.
  • How we evaluate the house.
  • Our company market statistics.
  • The exposure you get with us.
  • Where your listing will syndicate to.
  • How we give back to the community.
Selling House Cost Form

Home Selling Guide Request Form:

First Name
Last Name
Email
Phone
 

By filling out the form you give TSNG permission to correspond with you to the e-mail address provided.

The Sarasota Native Group E-mail List

Subscribe today and get monthly housing stats,

property value info, housing trends,

home buying/selling tips & MORE!

Unsubscribe anytime.

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Sarasota FL Real Estate - The Sarasota Native Group® will use the information you provide on this form to be in touch with you and to provide updates and marketing.