Hidden Costs Of Selling A House Why We Buy Houses Fort Worth
There are various options available when it comes to selling a house. However, many home sellers rush to list their homes with a realtor without first weighing the available options. And as a result, they end up not getting the results they anticipated. First of all, the entire process of selling a home generally takes 3-6 months, on average, and for those looking to sell their homes fast, for whatever reason, they may not afford to wait this long.
Second and more importantly, there are many costs involved that homeowners tend to overlook or don’t know about only to be left frustrated after these costs and expenses cut into their expected profits. But did you know that there is a way you can sell your house fast without having to incur any costs or expenses? Here at Southern Hills Homebuyers, we buy houses Fort Worth in ‘as-is’ condition and we are able to close in as little as 7 days.
With that being said, here are some of the hidden costs involved when selling a home through a realtor:
Cleaning & Repair Costs
It is highly recommended that you have a professional home inspection done before putting your house on the market. This will help to reveal and fix any issues with your home that may come up during the buyer’s inspection. Failing to address these repairs can lead to the lenders not approving the buyer’s loan or the costs of repairs being deducted from the final sale price. Thus, you will need to hire an inspector and carry out necessary repairs to avoid any unwanted surprises.
You also need to ensure that your property is as clean as possible and ready for showings. Thus, you will need to have it cleaned on a regular basis.
However, at Southern Hills Homebuyers, we buy houses Fort Worth ‘as-is’ which means that we will buy your house in whichever condition it is. You don’t have to worry about lengthy and expensive repairs.
Staging Expenses
When selling a property the traditional way, staging is an important part of the process. It is meant to depersonalize your home and allow potential buyers to visualize themselves occupying space. Staging often involves de-cluttering, installing attractive furniture, applying a fresh coat of paint (neutral colors) According to real estate experts, a professionally staged home will sell 87% faster than a non-staged home and for 17% more on average. Professionally staging a home costs anywhere from $500-$2,000.
Utility Bills
In case you vacate your home before it sells, you will need to keep your electricity and water running as it is important for homebuyers to get the impression of a fully functional home. Your lighting, heaters, air conditioner, and other systems need to be functioning properly.
Advertising Costs
Before listing your home, you will need to ensure that only high-quality photographs are posted on your listing. The photos should present your home in the best light possible. Keep in mind that you will be competing against thousands of other sellers and buyers will only click on those photos that capture their eye. This means that you will need to hire a professional photographer. You may choose to hire a drone pilot to provide virtual tours. The more effort that is put into marketing your home, the higher your chances of selling fast.
Seller’s Concessions
In some cases, especially in a buyer’s market, the buyer will make conditional requests to be included in the purchase price. For instance, a buyer may ask that you pay some of the closing costs or leave some household appliances. While it is up to you whether to accept or refuse to pay, if you are looking to sell your house fast, this will serve as an incentive to the buyer to close.
Agent’s Commission
There is a lot that a real estate agent does to help with the sale of your home. This includes marketing, helping with the paperwork, facilitating showings, closing etc. It only makes sense that you will need to pay the agent for their services. Keep in mind that the average agent’s fee is 6% of the home’s sales price. So, for example, if the sale price of your home is $150,000, your real estate agent will get $9,000 which is quite a substantial amount.
However, when you choose to sell to an investor such as us, you eliminate the middle man. You don’t have to pay any fees or commissions and get to keep all the money from the sale.
Closing Costs
There are certain costs incurred during the process that you will need to split with the buyer or pay by yourself at closing. These include loan processing costs, mortgage insurance, title insurance fees, insurance charges, pro-rated property taxes, and the cost to record the deed. On average, these costs range from 3%-7% of the home’s sale price.
As you can see, there are numerous costs involved with selling a home with a realtor. To avoid these fees and expenses, you should consider selling to a professional cash house buying company such as Southern Hills Homebuyers. Remember, we buy houses Fort Worth ‘as-is’ and we ca close in as little as 7 days.