There are many things to consider when you decide to sell your home. In order to prepare yourself, you’ll want to understand what closing costs are and how much you can expect to pay when selling a house.
💵 How Much Are Commissions?
While there are no hard numbers we can give you when it comes to the commission you’ll pay for the services provided by your real estate agent, you’ll want to guard against choosing a real estate agent based on the commission cost quoted. The lowest commission isn’t always the best deal if it ends up costing you money on your investment. When the commission is quoted to you during the interview process, you can always negotiate a fee that favors both you and the real estate agent.
📝 How Much Are Appraisal Fees?
When you decide to place your home on the market, you may want to get a pre-appraisal. The cost for this will come out of pocket and is not the same appraisal that takes place after you accept an offer. What this appraisal will do is help you understand the value of your home, which can help you set the right asking price for your house. Spending between $300 – $500 on an appraisal may help add thousands to your pocket when all is said and done.
🏡 What Does It Cost to Stage a House?
While staging a home is necessary, it doesn’t have to be costly. Speaking with your real estate agent about the things that will add appeal and value to your home can steer you in the right direction. Staging may be as easy as packing away personal photos and collections. Or, you may want to paint the rooms a neutral color and add some fresh flowers outside. There are times when renovations are needed to increase value, but for the most part, a careful and decorative eye can do much to help potential buyers see themselves living in the home.
[su_note note_color=”#df229b” text_color=”#ffffff”]Your real estate agent is the best source of information about the local community and real estate topics. Give C4 Elite Real Estate Team a call today at 801-678-7959 to learn more about local areas, discuss selling a house, or tour available homes for sale.[/su_note]
💲 What Are Typical Closing Costs?
Closing costs are a collection of fees that come for various services and procedures that occur during the home selling process. Depending on your contract details, the closing costs may be paid by you, the buyer, or split between the two of you. You’ll get an estimate of the closing costs when the process of appraisals and inspections begin, but this number could change substantially by the time closing day arrives. It’s a good idea to have money set aside to cover these costs to reduce stress and help create a positive experience.
Some fees you may see on the list of closing costs include:
Title Fees – These may include fees for title searches and other fees for insurance. The insurance protects the investment in case someone decides to claim the property after the sale.
Taxes – These taxes and fees for services are charged by the state and center around the title changes. In some instances, you’ll pay a standard fee, but in some cases, it will be a percentage of the sale or based on the local population.
Attorney Fees – If an attorney works with you on the sale of your home, you’ll be required to pay an hourly fee. This fee is based on the amount of work needed for your transaction.
🙋♀️ How Do I Choose a Real Estate Agent to Help?
Your real estate agent is a valuable resource and source of knowledge that is backed by experience. They will be with you from setting the asking price through closing, and beyond!
A real estate agent can offer you insight on which services are best when it comes to appraisals and staging. They will help set up a marketing plan that places your listing on front of as many buyers as possible. They can also help you understand all the legal and real estate terms that are used when selling a home. This helps to keep you informed and empowered throughout the process. They will also help you understand which closing costs are standard and which may be more specific to the sale of your property.