What Are The Costs To Selling Your Home?

If you’re preparing to sell your home , it’s important that you understand all of the costs associated with the process before you even start. That is, you have to make sure that you can afford to sell your home before you actually try to sell it. Realtor.com offers a breakdown of some of the fees you can expect to come across when trying to sell a home.

If you’re working with a real estate agent, you should as him or her to do a “Seller Net Sheet” for you, which will list all of your anticipated closing costs (including title work, transfer tax, and more).

Here are some of the other fees that you may need to talk to your attorney and/or real estate agent about:

  • Escrow fees

  • Title Insurance

  • Property taxes, which can include state taxes, county taxes, city or town taxes, and all of these rates will vary by location, so make sure to talk to your attorney or agent to figure out what you’ll owe in taxes when you sell your home

  • Attorney fee

  • Homeowners association dues (if applicable)

  • Mortgage payoff; this is especially important if you are having a short sale (in which you sell your home for less than it is worth)

  • Document preparation fee (usually done by an attorney)

  • Closing cost fee, which can be up to 3% of the home sale price

Don’t forget about any fees associated with constituencies either; if your buyer offered to buy only if you replaced the carpets, fixed the electrical systems, and paid for the home inspection, you have to factor those costs into your budget too.

Additionally, before even being able to list your home for sale, you have to prepare your property by doing regular maintenance, repairs, updates, or even upgrades. This may require hiring a home stager, buying new appliances, paying for cleaning services, and more. Make sure that there is room in your budget for all of the fees that you may come across when trying to sell your home.

Read more here.

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