Spend To Sell: The Cost of Selling A House in Fort Worth Texas
Many people who are in the market to sell their home often forget the cost of selling a house. Don’t forget these costs, and be aware of them in order to manage your expectations on the return. With the right frame of mind and solid idea of the cost of selling a house, you will be able to plan well for the next steps you want to take after the deal is done.
The number one item to consider is the realtor’s sales commission. If you choose to do without an agent, keep in mind that you have to do the legwork yourself and the process might take longer. Expect the commission to be around 3 to 7 percent of the sale. You can always negotiate this percentage with your agent. Statistics show homes marketed by a Realtor sell 3 times faster and on the average for 9% more that FSBO sales.
Taxes and Legal Fees
The cost of selling a house is not without transfer taxes, property taxes and the fees for all the paperwork that entails hiring a lawyer. It would be a good idea will to check your state’s policy on property taxes because if you’re paid up for the year, you might just get credit.
Closing the Mortgage
You’ll need to take care of any remaining balances on your mortgage before you can proceed with the sale of your home. Don’t forget the prepayment penalty, if your mortgage has one.
The cost of selling a house always involved sprucing up the place. Include the cost of a home pre-sale inspection so you can pinpoint the necessary minor adjustments you would have to make to put your house in its acceptable state in preparation for a sale. Include the repairs needed for aesthetic purposes for both the interior and exterior of your home. Remember that curb appeal is a huge factor in attracting buyers, so make sure your house makes an impact from first sight.
The cost of selling a house involves the costs of moving into your new house. This includes transportation, the moving van, moving staff, new appliances, new fixtures, new furniture, repairs and a lot of other miscellaneous costs. Relocating also involves other expenses such as school transfer fees, storage space, and other costs that are not necessarily directly involved with the house itself.
Even with the cost of selling a house, it’s a small comfort to know that some of these expenses are tax-deductible. Manage your expectations, plan ahead, and the cost of selling a house will be worth it when you get the outcome you want.
With any other questions you may have about the process, please give us a call. The Reata Realty Group are at your service.