Many sellers are frustrated after they sell their home. Many times, the reason they are angry is because they sold it for much less than they paid for. Unfortunately, if the market is not doing well, you may find yourself upset with the offers that are coming in. Realize that each home, and each market is different. Therefore, you won’t really know what your home is worth today until you get it appraised. And unfortunately that appraisal will be based on many factors. And what you paid for the house…isn’t one of those factors. See: Top 10 Home-Selling Mistakes You Should Avoid.
You’re also going to have to pay your realtor a commission for selling your house. Those don’t come cheap. However, if you want to sell your home, you’ll need a real estate agent.
Many people decide to forego one and sell their house themselves to avoid having to pay a large chunk of change to someone else. You’ll regret that idea in the end. Many of the people who decide to sell the house by themselves end up calling a realtor shortly thereafter when they realize how valuable they are.
Of course, each realtors’ commission depends on many factors. Most of the time, the percentage isn’t up to them, its based on their broker. Also note that each time a real estate agent earns a commission, a large percentage of that goes to their broker, not them. So they aren’t seeing that entire amount in their bank account. You’re also going to have to pay a fee to the listing agent, too. Not just to your agent. Some realtors are able to negotiate their fees, while others aren’t.
You’ll also need to pay title fees, and hire a company to handle the closing. This usually can add up to about a grand. Loan pay offs aren’t cheap either, and will cost you a few hundred bucks. You’ll also have to keep your utilities on while you are selling the home, even if you don’t live there.
While yes, that seems unfair, keep in mind you’ll have trouble selling your house if the buyers are having to view it in the heat of the summer. The temperature in the home needs to be at a comfortable setting, and there has to be running water.
Turning the utilities off when you are trying to sell the house is a bad idea. You’re going to have to end up turning them back on anyway, which is expensive. If you pay Homeowners Association fees, you’ll also still have to pay these while you’re selling the house.
Selling a house isn’t cheap. You’ve still got expenses while the home is on the market, and even after it closes. In order to get the most value you can out of your house, it must be in top condition. Read: What Closing Costs and Expenses to Expect When Selling a House.
One thought on “You’ve Got to Spend Money To Earn Money…Here’s What You Can Expect to Shell Out While Your Home Is On The Market”
Selling a house doesn’t have to break the bank…(necessarily). It depends on what shape the house is in. If its a really nice house, but a room needs to be remodeled, or something like that, then you probably should do it. If there are a lot of things that need fixing, it may be better to just sell it as-is. It truly depends.