Know the Costs When Selling Your House

Wednesday, September 12, 2012

If you thought buying a house seemed stressful, with all of the hidden fees, for those that have sold a home before, then you know the stress that can come as well with selling a house.  It seems easy enough to do, by putting a price on the house, but is it really that easy?  What do you need to do before listing your house for sale and what costs will be associated with selling your house?

If you are ready to sell your home, there are a few things that you will need to do in order to think about before listing it.  As most everyone would like to get as much money as they can for their home, and there will be a few things that you will need to do in order to maximize the amount that you will be able to get for your house.

Selling your home first comes with how much you can reasonably expect to get (money wise) for your home.  What are the houses in the area going for around you in your community, what have they included and what will you need to do to get your house up to par to be able to complete in the real estate market?

Where are the hidden fees in selling your house? 

  •  Home Inspection – you may want to cover the cost for a home inspection, to make sure that your home is in top condition for you sell it.  If the home inspection recommends that you have some major or minor repairs or renovations, then you may be better to do these yourself, instead of including them in the house selling contract as conditions.  (As many times, buyers will exaggerate the costs of having to do these themselves).  So you might in turn, save money in the process by having these done and taken care of beforehand.

  • Lawyer’s fees -  A lawyer will be necessary when selling your home to facilitate the paperwork, conditions, payments, leases, contracts as well as mortgages.  Don’t underestimate the cost of a lawyer, as they are very expensive!

  • Extra Insurance – when showing your home, you will want to take the added precaution of having extra insurance for times when people will be on your premises.  You will need to make sure that you are protected from this liability.

  • Real Estate Agent – the real estate agent will take a percentage of the selling price, and hopefully though, this agent will help you get the amount of money that you want for your house.

So, although it may seem scary, if you have considered the above fees into selling your home, you may know ahead a time how much it will cost you to sell, and therefore you might be able to protect yourself against these fees and you might be able to recover them in your asking price for your property.