If you’re unfamiliar with the home selling process, the costs of selling a home can come as a surprise. While most people expect some added expense, there are certain costs that most new sellers won’t anticipate.
What Are the Costs of Selling My House?
It is estimated that around 10% of the sale price will be taken up with various fees and costs. If you are looking to sell your home in Dallas and the North Texas area, understanding the costs involved will help you budget for the move.
Preparing the Home
Preparing your home gives you the best chance of making a quick sale at your target price. Buyers will be far more motivated if they enter a staged home that is inviting and warm. Depending on the condition of the house, you may need to invest in landscaping, furniture, some renovations, cleaning services – and even a professional home stager.
As it is not uncommon for preparation fees to run into the thousands of dollars, this could account for 2% or more of the sale price. You could of course limit expenses as much as possible and still make a sale.
Negotiating a Sale
Negotiating the sale extends beyond the sale price itself. Buyers will often demand certain incentives and concessions before committing to a purchase. The costs of inspection and processing, for example, could be shouldered by the seller. Sellers may also offer a buyer’s home warranty to protect against home system and appliance issues. These costs will often run up to 1–3% of the sale price.
Additionally, a seller pays their realtor a fee to handle marketing, negotiation and other crucial aspects of the sale process. An experienced realtor will help sellers navigate the Texas property market, and will be invaluable if you need to sell your home fast.
Finalizing the Sale
After negotiating the sale, you still need to consider your closing costs. These costs will account for around 1–3% of the sale price, and may be essential for selling your home in Texas. Depending on your circumstances, you might have to pay for a title search, property taxes, title insurance and a courier fee. If you choose to pay for an attorney during the process, there will also be additional fees.
Many first-time home buyers and sellers underestimate the cost of a relocation. Most families amass a lot of possessions that need to be moved or disposed of when preparing to sell their home. In fact, the average cost of a local move is $1,250, and a long-distance move rises to $4,890. Depending on the final cost, this could account for around 1–2% of a typical home sale price.
We Can Help Sell Your Home
At D&R Home Solutions, we take the stress out of selling your home. Whether you need help selling a property or buying your perfect home, our expert realtors can help. We work in Allen, McKinney, Plano, Dallas and throughout North Texas. Call us at (214) 494-6222 or request a home evaluation today.
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