Selling your home can be stressful in the best of markets, even when your home is move-in ready. But what happens when the market is slow or your home is in need of renovation? There are many hidden costs to selling your home that you may not realize. So before you try to sell your home, learn about the real cost of selling a house.
There are many costs that most people don’t consider when they decide to sell their home through a realtor. First, there’s the time it takes to find a realtor that is a good fit, and who is willing to help you sell your home. If you’ve got an older home that is in need of repair, this can be harder than it sounds. Most realtors aren’t interested in trying to sell these homes because they know how difficult they can be to sell. And if they do take you on as a client, many won’t put much effort into trying to sell your home. They’d rather focus on the houses they know they can sell quickly. This may leave you to do most of the marketing yourself.
The Real Cost of Selling A House: It’s More than Just Money
If you do manage to find a realtor you want to work with, there are many other costs of selling your house that can creep up on you as well. These can cost you time, money or both:
- You may want to pay for an independent appraisal, which will cost between $400 and $800 dollars.
- You’ll need to spend time cleaning and de-cluttering to make your house presentable. This includes mowing your lawn, trimming bushes and removing trash and debris to help improve curb appeal.
- If you have a lot of furniture and other belongings and limited storage, you may need to rent a storage unit to help your house appear more spacious, and more enticing to buyers.
- The realtor may ask you to make some cosmetic repairs before they show your house. When buyers do inspections, they could make their offer contingent on you making larger repairs. This not only takes money out of your pocket; it can also delay the sale.
- You’ll need to keep your house in show-ready condition while it’s on the market, which could end up being months if you can’t find an interested buyer.
- When you find a buyer, you still need to wait for their bank to approve the loan, which takes time and could end up falling through.
The Financial Cost of Selling A House
There’s the old saying that time is money, and it holds true in the real estate business too. The longer your house sits on the market, the more you end up paying in mortgage payments, utilities and property taxes that you could have avoided. And, the longer your house sits, the more pressure there is to reduce the sale price. Buyers will know how long your house has been sitting, and are more likely to make you low-ball offers.
But in addition to the toll that time can take, there are other financial costs as well. So the price you sell your home for is not what you ultimately end up making.
- Most realtors charge up to 3% commission, and the seller usually ends up paying commission for both their realtor and the buyer’s. That’s up to 6% of the sale price right there.
- The seller usually pays at least half of the closing costs and other fees associated with the transfer of the property as well, which can end up being hundreds or even thousands of dollars.
When all these costs are added up, most sellers end up making a lot less off their house than they had hoped. Especially if they have an older home in need of repair. But, there is a way to avoid many of these costs…selling your home for cash.
Selling Your Home for Cash
If the cost of selling your house – in time, money, or both – seems too high, your best option may be selling your home for cash. There’s a lot less stress, a lot less hassle, and you’ll be able to sell fast. It can end up being a much better deal than you might think.
As one of the greater Philadelphia area’s most trusted cash home buyers, Home Cash Guys has worked with hundreds of homeowners in all types of situations – and made personalized deals to help them sell their house fast for a good price. Here are some of the ways Home Cash Guys will help you lower the cost of selling your house:
- We’re not a realtor, so we don’t charge commission.
- We pay closing costs and other fees.
- You won’t be asked to make any repairs. We’ll buy your property as-is…in any condition.
- We’re more flexible than other buyers, and can come up with creative solutions and work on your schedule.
- We’ll walk you through the entire process and handle all the paperwork.
- We’re ready to make you an offer today, and can put cash in your pocket in as little as 15 days!
If you’ve got a house to sell in Philadelphia, Delaware, Chester, Northampton, Bucks, Montgomery, Berks or Lehigh County, contact us today for a fast, fair, all-cash offer. It’s free, and there’s no obligation, so you’ve got nothing to lose. Except for the hidden costs and headaches that come with selling your home. All you’ve got to do to get started is answer a few questions about your property, and one of our local real estate experts will be in touch with you right away!