Since this is just an estimate, it is not the actual cost. The costs will vary depending on the companies you use, it might also depend on the offer you chose. To sell a house in the market, you must be an expert on it or at least have someone help you on marketing and selling. You should be aware that there are a lot of costs when getting your home sold. Both the buyer and the seller should be aware of the costs before any transaction. Below you can view the list and some example on the average cost on selling a home.
- COMMISSION: The commission is 100% negotiable and most likely depend on the experience, agency and location of the agent. The fee you give to the realtor includes the marketing, tour giving on the buyers, open houses they give, posting your home on any popular online sites. Let’s imagine you sell your house for $500,000. The commission you negotiated on selling your home might be 7%, you would pay the agent and the buyer’s agent $35,000. Usually the seller pays the whole commission to the agent and buyer’s agent, they would split the commission themselves. Since the commission is negotiable you might have a variable commission that will reduce the cost if the agent brings the buyer. This is called a dual agency, there are multiple brokerages that allow it and some that don’t. The trick is not to choose an agent based on the commission. You might want to choose a discount broker and later realize they don’t do the right marketing and won’t bring you any leads. You should choose an agent that has the tools, knowledge and budget to put your house on the market. [su_divider divider_color=”#ffffff”]
- APPRAISAL FEES: The appraiser must look at every inch of your house and will be able to determine how much your home is worth in the market.
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- STAGING FEES: Remember it is very important your home looks great to potential buyers, first impression is very important. Today most sellers like to hire someone stage and prep their home to make the home more presentable and clean. Even though hiring someone to help you might cost you a few hundred even thousand dollars. [su_divider divider_color=”#ffffff”]
- Closing costs: Even though they are small fees, when adding them up, you can end up with thousands of dollars.
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In the closing phase, you get to sell your home, where there are many costs that most consumers don’t know when selling their home.
- Recording Fees: This cost is likely split between the buyer and the seller at the county recorder’s office. The cost here is associated with recording the new deed. [su_divider divider_color=”#ffffff”]
- Escrow Fees: Here is s fee that will pay for the service rendered by the escrow company. [su_divider divider_color=”#ffffff”]
- Tax Service: This cost is just a one-time fee that is for setting up tax payments, that is charged by the lender. [su_divider divider_color=”#ffffff”]
- Title Insurance Fee: This fee is so the seller ensures that they are giving the buyer a clear title to the property. [su_divider divider_color=”#ffffff”]
- Transfer Tax: This cost is a state specific rate. [su_divider divider_color=”#ffffff”]
- Re-conveyance Fee: This fee is to clear the title of the lien and to reestablish the deed of trust to the seller. [su_divider divider_color=”#ffffff”]
- Home Warranty Plan: This fee can be optional for a one year warranty that the seller pays. [su_divider divider_color=”#ffffff”]
- Form 1099: The form is required by the IRS to report the sale of the property. [su_divider divider_color=”#ffffff”]
- Pest inspection: If the inspection is requested or required, it will be inspected for any termite that can damage the home. [su_divider divider_color=”#ffffff”]
- Courier Fees: Here you can use a service to the necessary documents to and from the respective parties. [su_divider divider_color=”#ffffff”]
- The seller can also pay other fees they agreed to during the negotiations with the buyer. The seller can agree to pay the closing costs depending on the agreement they both had.
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Choose an agent that will help you with the process. With the help of an agent, you are more likely to sell your home quickly and maximize your value. As you can see from the fees above, selling your house has lots of extra costs. You must look back at the costs to see if you can afford to sell your house before you commit to it.
To help you with this decision to sell contact Adrian Garza and he will help you with the estimate of your costs.
– Get your San Antonio Home Valuation Here
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