The Hidden Costs Of Selling A House Through A Realtor
When planning to sell your home, it can be easy to get caught up in the excitement of moving to a new location and the prospects of making a large amount of cash from the sale. For many first-time home sellers, the process of selling a home seems as easy as finding a buyer, closing the deal, and smiling all the way to the bank. However, there is much more to selling a house than what meets the eye and if you aren’t properly prepared, you can be left frustrated and disappointed with the outcome. Besides there being many things to handle, there are many hidden costs of selling a house that many people tend to overlook and these costs can significantly cut into your profits. To avoid any unpleasant surprises, it is important to learn about these hidden costs so you can prepare for them.
However, did you know that there is a way to sell my house fast Houston without incurring any hidden costs, fees, or commissions? Selling your house to cash house buying companies such as Preferred House Buyers, LLC., is quickly becoming one of the most preferred ways of selling a house due to the many benefits it offers house sellers, including quick and guaranteed house sale, no repairs needed, no fees or commissions, and many more.
With that being said, if you are planning to sell your house the traditional way, here are the hidden costs that you need to look out for.
Cleaning and painting
One of the most important steps before putting your house on the market is to have it thoroughly cleaned and decked in a fresh coat of paint. Doing this can make a lot of difference.
Nothing puts off potential customers more than an old-looking, dirty, dusty, and dingy house.
Your home’s curb appeal is what gives potential homebuyers their first impression of your property.
So you need to ensure that it is appealing enough.
Some of the things you can do to improve your curb appeal include decluttering your yard, adding some flowers, trimming your lawn, applying a fresh coat of paint to your home’s exterior, pressure washing your driveway, etc.
Staging is important as it helps to make a home more appealing to potential home buyers and helps them to visualize themselves living there and it also helps to demonstrate the potential of each space in the home. According to statistics, a staged home sells much faster and at a better price than non-staged homes.
Besides staging, you also need to think about the photographs you will include in the listings. It is highly important that you get high-quality well-shot photos of your home.
For both of these tasks, you will need to hire professionals to ensure the best results, which can be quite expensive.
A professional staging company can cost anywhere from $500 – $10,000 while a professional photographer can cost anywhere from $200-$300.
This is perhaps one of the most overlooked expenses when selling a home. It is important to ensure that your lights, water, heating, air conditioning, and other services are still working even after you’ve moved out of the house. Ensure that the potential buyers get the full proper experience of living in that house.
This means that, for the period that the house will be sitting on the market, you will need to continue paying monthly utility bills for the house.
While this step is optional, scheduling a home inspection before putting your house on the market can help to avoid unexpected costs down the road.
Buyers will typically have a home inspection done before they close the deal. If your house is found to have certain glaring issues, the buyer can use this to renegotiate the price or set up contingencies. A pre-list home inspection will help you identify issues that may come up during the buyer’s inspection and fix them early enough and help maximize your offers.
Before putting your house on the market, you need to ensure that it is in its best condition. You will need to make all the necessary repairs that can potentially lower the value of your home deter buyers from investing in the home.
On average, the real estate agent commissions range from 4% to 6% of the final sale price of the home. This amount is usually split between your agent and the buyer’s agent. You, as the seller, will be responsible for paying this percentage. However, with a cash house buying company, you deal directly with the buyer and you can sell my house fast Houston without worrying about real estate agent’s fees taking your profits.
While the state of Texas doesn’t necessarily require that you enroll the services of a lawyer when selling a house, it is highly recommended to have one who will help you handle all the involved paperwork and also ensure that all legal obligations are met by both you and the seller.
Closing costs typically take up 2% of your home’s selling price. There are 5 main types of closing costs involved:
Pre-paids and escrow
As you can see, there are many costs involved when selling a house the traditional way that you might not have thought of or known about. These costs can significantly reduce the amount you are left with in your pocket and you end up even regretting selling your house. Even after incurring some of these hefty costs, your house can end spending months and even years on the market without finding a buyer adding up to your frustrations.
However, with Preferred Property Buyers, you can sell my house fast Houston cost-free. Contact us today for a quick and hassle-free process of selling your house.