Around 95% of home sellers say that the process of selling a home stresses them out. Many times, this stress comes from the unknowns of how long it will take to sell and how much it will cost.
So, what is the average cost to sell a house? The truth is that it depends on a variety of different factors.
Keep reading this quick guide to learn about the different aspects of the home selling process that can impact the amount you have to pay.
Before you try to sell your home, you may need to do some repairs in order to get the highest possible price. Depending on the scope of these repairs, this could add up to thousands of dollars.
Try taking a walk around your home and looking at it with a critical eye, almost as if you were a potential buyer. What stands out to you? Is there anything that would prevent you from buying the home if you were looking at it for the first time? If so, focus on those repairs. If you’re working with a real estate agent, they’ll be able to give you ideas on the most important repairs to make as well.
If you’d rather save the money and skip the repairs, you might want to look into how to sell your property as is instead.
One of the most expensive home selling fees is the real estate commission paid out to the buyer’s and seller’s agent. In most real estate transactions, the seller is responsible for the commission fees for both agents.
Commission fees can vary, but generally, you can expect to pay up to 6% of the total sale price, which is then split between the agents.
If you’re concerned about high commission fees, you can try to negotiate them, but you might not always be able to.
You’ll also need to be prepared to pay closing costs when you sell your home. While these fees can vary, they may include the following:
- Property taxes
- Lawyer fees
- Title insurance
- Transfer taxes
- Brokerage fees
- Courier fees
- Title policy
Many of these fees are also negotiable, so you may not have to pay for as much as you think. However, it’s best to be prepared to cover them all, so you’re not taken by surprise at closing.
If you want your home to sell fast, you might consider having it professionally staged. This will make it easier for potential buyers to picture themselves in your home and it will make your home look its very best.
While staging is certainly an extra cost that isn’t necessary, weigh your options to decide if it’s worth it. You never know if staging could help you get more for your home!
The Average Cost to Sell a House Varies
After reading through this quick guide, you should have a better idea of what impacts the average cost to sell a house. Now, you can move forward in the selling process feeling more prepared.
Want to read more like this? Check out our other articles before you go!