Friday, November 02, 2018 / by Sue Lockett
REAL ESTATE BLOG
THE COSTS of SELLING YOUR HOME
If you are thinking of selling your home, you need to know that it will cost you approximately 10% to do so. You will have real estate fees, which are not set, but usually range between 5% - 7% (divided between two companies), a title policy which is approximately 1% of the sales price, perhaps a survey and a home warranty, the taxes and insurance up to the day of closing, plus your own closing costs, and any repairs or closing costs for the Buyer that have been negotiated in the contract. If the lender for the Buyer requires specific repairs in order for a loan to be approved, your costs may increase. For example, if the lender requires that the roof needs to be replaced, then your costs will go up substantially. So, look around your home to see what repairs you need to make before putting your house on the market, and be prepared for possible or unforeseen expenses. Your home is typically your largest investment, so you will need to take care of it prior to selling it.
If you have any other real estate questions, just give me a call.