Deciding whether or not to sell your home is hard, learning your options does not have to be.
There are many costs associated with the traditional home selling process. It is important to understand the process and costs that sellers typically incur.
Traditional home selling costs include:
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Repairs and maintenance prior to listing for sale
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Buyer requested repairs
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Realtor commissions
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Seller concessions
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Closing costs
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Holding Costs
These costs are explained below as well as a Cash vs. Traditional Sell Analyzer to compare your options.
Repairs
Most homes have deferred repairs and maintenance. Buyers and at times mortgage companies require repairs to be made before completing a purchase
Real Estate Commissions
Real estate commissions vary, but the standard is for the seller to pay the listing agent and buyers agent a total of 6% of the home's sells price
Seller Concession
A 'seller concession' refers to any arrangement where closing costs on a home purchase are paid by the seller rather than the buyer. This ranges from 0-5% on traditional home sells
Closing Costs
Closing costs are the expenses, over and above the price of the property, that buyers and sellers incur to complete a real estate transaction. This includes title insurance and escrow fees
Holding Costs
Traditional sells typically take 75-90 days to complete. During this time the seller is still responsible for their mortgage payment, property taxes, insurance and utilities.
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