Selling a San Antonio Texas area Home - Prepare Yourself Financially
price, condition and accessibility of your home and the type of marketing that I will do to sell your home for you. The first conversation; however, will be focused on if you qualify financially to sell your San Antonio Texas area home.Sellers May Not Realize the Financial Obligations of Selling a Home
Sellers may not realize just what it takes financially to sell a home in today's Real Estate Market. Bottom line, there are fees associated with selling a home. A good rule of thumb for costs in selling your home would be to estimate about 8-10 percent of the price of the home. For example, if you were to sell a home for $100,000, you could expect to pay up to $10,000 in seller closing costs. What are these fees for? Sellers closing costs in Texas usually include and are not limited to:
- Owners Title Insurance Policy-Sellers generally pay for the Title Policy in Texas
- Property Taxes-These are prorated for the time that you are living in the home. For example, if you sell your home in March 3rd 2012, you will owe property taxes from January 1st until March 3rd, 2012, and the buyer will owe from March 4th, 2012.
- Realtor's Fees-Depends on who you hire. Remember that selling a home can be a complicated process. Don't be duped into thinking going cheap is going to save you time or money.
- Escrow Fees-The escrow officer is someone who facilitates the transaction once we get the contract.
- Title Company Fees-These fees generally encompass Attorney fees, document recording fees..etc.
- Home Owners Association Fees-When you sell your home, if you have an HOA, you will be required to provide the buyer the convenents and restrictions of the subdivision and a resale certificate. The HOA charges a fee to provide this to the Title Company.
- Surveys-If your current survey is older than 10 years old, you don't have a survey or you have added something to the property such as a pool or a deck, you will be required to provide a new survey to the buyer. These can run on average about $425 (cost is approximate).
These costs are fairly consistent with what you will be required to pay to sell your San Antonio Texas area home. There can be other costs associated with selling. For example, some buyers may ask for closing cost assistance or a home warranty. You are not required to pay this as everything is negotiable...but these costs could end up being part of your transaction.
Equity, Condition and Other Factors Count
Now, depending on how long you have had your home (how much equity you have built up), the condition of your home, the Real Estate Market when you sell your home and various other factors, will determine how much if any money you will be required to bring to the closing table. If you have a significant amount of equity built up and the market is holding steady or doing well, you may just get a check at the closing table, (meaning money back). How will you know what your options are when you are thinking of selling your home? Hire your San Antonio Texas Realtor® to do a Comparative Market Analysis for you and a Net Sheet and I can let you know just what you can expect.
Selling a home in San Antonio Texas, just like buying one, costs money. However, with a good San Antonio Texas Realtor® by your side, you will understand the entire home selling process and be prepared financially to sell your San Antonio Texas area home.
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