Think back to when you bought your first home. Were you as aware of the costs when you went shopping for a home? It’s okay, you figured it out eventually, even if it wasn’t the smoothest experience. Selling a home is similar because it will cost you, so being fully aware of the costs are key to having a great experience. Here are the facts when you absolutely need to know, “How much does it cost to sell my home?”
Selling a home isn’t free
The cost of selling a home varies based on the value of the home, the commission that is negotiated with an agent, and additional expenses that the seller pays out of pocket or at the end of the sale from escrow. There are also unexpected costs that home sellers need to know, so they aren’t taken by surprise later in the transaction.
Here are the typical expenses sellers burden when it’s time to sell their home:
- Agent fees/commissions
- Monthly utilities
- Monthly mortgage payments
- Landscaping/pool maintenance
- Home repairs
- Buyer concessions such as their agent’s fees
- Home warranty
- Property taxes
- Title and escrow fees
- Moving and storage costs
These expenses are magnified even more if your home doesn’t sell quickly. Even if it’s a “seller’s market” in your area, any home can experience selling delays even if it’s in great condition. These delays might have nothing to do with you or your home. For instance, buyers might want to review a few more properties before they’re ready to say yes.
Estimate the cost to sell your home
The good news for homeowners who want to sell their home today is that there are helpful tools to estimate how much it will cost to sell your home. These tools are helpful to calculate the potential expenses involved when it’s time to sell. OfferPad provides a free calculator for homeowners to estimate how much cash they will receive at closing. This free tool outlines the costs including the agent fees, title, and escrow, deductions for repairs, ownership and moving costs. If you’re unsure about specific items, mouse over the question mark for more information.
Homeowners can sell their home with confidence
Selling a home previously involved uncertainty and doubt. Instead of being contractually obligated to proceed with a sale, they can receive a decent offer on their house without any obligation or cost. Purchase offers provided by OfferPad are based on actual real estate transactions found locally. We recommend that you provide photos so our team can confidently provide the best possible offer.
As a direct home buyer, we have access to the latest in real estate trends across select local markets, so we’re able to provide competitive purchase offers quickly. Throughout the entire online offer experience, homeowners are informed at every step. As a result, we provide every homeowner with the ultimate home selling experience.
Selling your home can be stressful, but hopefully, we have helped you gain a better understanding of the potential costs and fees involved when it’s time to sell. Most home sales will cost owners approximately 6–9%, but you can’t forget about the additional expenses along the way.