What Does it Cost to Sell a House?
Owning a home can be very expensive to maintain. However, if you are keeping up with the regular upkeep of your home, it could save you in the long run. Typically, the things that go wrong are heating, plumbing, and roofing, among many other problems that arise when being a property owner. Most people spend more time or money to make costly repairs. That is why we may consider it time to sell our home. But do we know how much does it cost to sell a home?
When we ask ourselves how much it costs to sell a home. The first fees we think of are our real estate agent fees. That is one of the most common costs of selling your home. This article will discuss the actual cost of selling. Everyone has a certain amount of money they hope to walk away from selling their property after all fees.
Real estate agent fees
The first fee that comes to mind when we sell our home is the real estate agent’s fee. Since we can only sell our homes with expert advice, we turn to knowledgeable real estate agents. When you sign a contract with them to list your property, that will cost you. The average fee to list a property is 3 percent. You will also be required to pay the buyer’s agent, which would be another 3 percent commission. We know that can start to eat into how much money we will walk with when the sale is final.
You may also try to sell the home yourself. That can save you on real estate agent costs, but it will force you to spend time and money marketing the property yourself in certain circumstances that may not be an option for most homeowners. Most of the time, we have full-time jobs and need help to handle negotiations instead of trying to sell our property independently.
When you decide to sell to our company, there is no real estate agent involved in the sale that you have to pay. We are buying the house directly from you. Avoiding 5 to 6 percent on the sale of your home allows for more money in your pocket.
Your Home Needs Work
Repair is one of the most considerable costs associated with selling your home. When we decide to put our home on the market, we attract different home buyers. The one type of buyer you do not attract is the savvy investor. You will usually get offers from first-time home buyers or couples looking to make your home theirs. It will mean that they may request you make costly repairs to your home before they are willing to buy it from you. The top issues people have when going through a home inspection are plumbing, roofing, and heating. The biggest plumbing problem we face as homeowners are our sewer, drain, stack, and leaky water lines. Each of these can cost you thousands of dollars when the time comes to address these issues.
- Sewer line replacement is $3,000 to $4,500 if it does not have to be dug up at the curb.
- Drain line replacement is $250 to $1,200 unless you need a stack replacement.
- A new boiler or heating system costs $3,500 or more.
- A new roof or patchwork could cost you $5,000 to $15,000.
It isn’t confident that you must get everything on the list repaired. Even having to do one of these repairs could cost you. When you decide to sell your home using Buying Property 215, you do not have to worry about any of these problems needing to be replaced. Our construction team handles these problems after we buy your home. We are experts at making repairs to homes. We do not have inspections done on your home. We can close in 21 days. That allows us to get into your home faster and start making the necessary repairs.
Property Inspection Cost
The average cost of a home inspection throughout the country is typically $300-$500 but sometimes can range from $200 to $1,000 or even more depending on the dimension and intricacy of the property—the total cost of an inspection is usually negotiable between both the buyer and seller.
The buyer usually pays for the inspection, but some sellers may offer to pay for it as part of their overall property-selling strategy. The inspection is an essential element of the house-buying process, as it can help determine any potential home concerns that could impact the buyer’s decision to purchase the property.
Home Appraisal Cost
The average home appraisal expense in the United States is $350. However, the appraisal price can vary depending on the property’s location and the home’s size. In some circumstances, the cost of an appraisal can be as low as two hundred dollars or even as high as five hundred dollars.
It is necessary to mention that the price of an appraisal is not negotiable. The appraiser will charge the fee that they believe is suitable and appropriate for the assignment they will accomplish; the only suggestion will be to shop the estimates to find the most reasonable option.
Closing Cost
How much does it cost to sell a home? They say a homeowner gets charged around 7 percent of the home’s value. Well, closing costs are one of the biggest things a homeowner has to pay. But, the truth is there are tons of smaller and larger fees a homeowner charges when selling their home.
- The closing cost for sellers in Pennsylvania is 0.07%
Transfer Tax
The transfer tax on a house sale is typically 0.5% to 2% of the purchase price. However, the precise amount varies by state. For example, the transfer tax in California is 1.1% of the purchase price. In New York City, the transfer tax is 2% of the purchase price. Lastly, Pennsylvania has a transfer tax of 2% (1% to the state and 1% to the municipality and school district!
- The buyer pays the transfer tax at the time of closing. The buyer’s closing costs will include the transfer tax amount and other fees.
Why you should sell to Buying Property 215
The benefit you get from selling your home to Buying Property 215 is that you avoid each cost when you sell directly to our company. We have been helping homeowners for over five years sell their homes and avoid the cost associated with your traditional home sale. That means that you can have more money in your pocket. As homeowners, when we look for how much does to cost to sell a home? We are still figuring out how much will come when we settle.