3 Common Costs of Selling Your Home: Watch Out

Learn about the costs of selling your home, from pre-sale preparations to closing fees. 

Are you aware of the hidden costs that come with selling your home? With many homeowners sitting on significant equity, now is a great time to sell. However, it’s crucial to remember that selling your home isn’t all profit. Costs are involved, and you don’t want to be caught off guard. I’ll walk you through the most common costs associated with selling your home.

First Cost: Pre-Sale Preparations. Before you even list your home on the MLS, there are a few things you should consider. These include pre-inspections, repairs, renovations, and cleaning. While not all of these are 100% necessary, most agents recommend them if you want to get the most money possible for your home. For example, a clean home with a few simple repairs and cosmetic upgrades will attract more attention from buyers than a home listed “as is.”

“Selling your home isn’t all profit—costs are involved, and you don’t want to be caught off guard.”

Second Cost: Selling Expenses. Once you’re in the process of selling, there are costs directly associated with the transaction itself. This includes agent commissions, both for your listing agent and the buyer’s agent. These commissions typically range between 5% and 6% of the sale price. When planning your sale, it’s essential to factor these costs into your budget.

Third Cost: Closing Costs. Closing costs are the final hurdle in transferring ownership of your property. These can include title fees, escrow fees, mortgage insurance, seller concessions, notary fees, and taxes. While some of these costs, like seller concessions, can be negotiated, the total closing costs can vary depending on your property’s value. If you’re curious, we can estimate your closing costs before you list your home.

Understanding these costs can help you make informed decisions and maximize your profit when selling your home. By being prepared and knowing what to expect, you can confidently navigate the selling process. 

Selling your home can be a lot of work, but you don’t have to do it alone. If you want to learn more or need help selling your home, please contact me at (267) 242-9976 or vincent@ironman-realtor.com. I go the distance for you.