Will selling cost you money? Many people list their house, not taking into account what it will actually cost them. There are fees and expenses you should be aware of before you list with an agent. In our latest post, we will let you know what costs to expect when selling a home in Fort Wayne!
Have you decided to sell your house in Fort Wayne? There are many things to consider before you decide how to sell! Keep in mind, listing your house will cost you money both up-front and once the property closes. You must factor this in when pricing your house and deciding who you want to work with.
Studies show that the average amount it takes to sell a house in the US is $15,200! That’s a lot of money! Keep in mind, that number varies widely based on where you live and the price of your home.
Will Selling Cost You Money in Fort Wayne?
Agent Commissions – 6% of the final sale price of the home are what commissions typically run. You will know the agent’s cut when you sign your listing agreement. While this money isn’t paid upfront, it is deducted from the amount you walk away with. When pricing your home, keep this in mind.
Agent Fees – It’s possible there may be additional fees charged throughout the selling process depending on the agency. Some agents will pass on marketing and listing fees directly to their clients. Make sure you know what you will have to pay for and what’s included at the end of the transaction.
Closing Costs – Closing costs include many items that are paid at the closing table. These include transfer fees, title insurance, title search fees, recording fees, transfer taxes, appraisal costs, discount points, credit report fees and more. Some closing fees are negotiable, and some are not. Expect to pay about 2% of the final sale price in closing costs.
Taxes – When you list your home for sale, you are responsible for the property taxes, utilities and homeowners insurance up until the day of closing. These amounts can add up to thousands should it take a few months for the property to sell and close. Once you decide to sell, the sooner it happens, the better!
Preparing Your House for The Market – There is a lot of energy, time and money that go into getting a house ready to sell. There are repairs to make, walls to paint and carpets to clean. You will want to remove personal belongings and stage the home for selling. Whether you work with a professional or do it on your own, you are likely to spend money on new decorative pieces in the house. You should also clean up the yard but also consider some new landscaping to bring more curb appeal to the property. This is just another way selling in Fort Wayne can cost you.
Inspections – More and more sellers are paying to have their home professionally inspected before it’s listed. This will cost approximately $200 or more. By doing an inspection before you list, you will be able to address any issues with the home before thy pop up in your buyer’s inspection. This will also give you negotiating power during the selling process.
Storage and Moving – How can selling in Fort Wayne cost money? Whether you hire movers or do it yourself, moving can get expensive! How far are you going? Will you need a truck? Or pizza to bribe your friends? While waiting for the home to sell, you may want to consider storage costs if you are living in the home while it’s listed. Packing up unnecessary items ahead of time will make the house look nicer and give you an edge when it’s time to move.