When Orland home sellers consider selling their houses, chances are that they are mostly thinking about how much money they will make from the home sale, not how much they will spend to get the home sold. However, there are a number of costs Orland home sellers incur when selling their house.
So as to not be surprised when the sale is complete, home sellers need to keep the following costs in mind:
Most home sellers plan on completing a few home projects before putting the home up for sale. These updates could be as simple as repainting your bedrooms or as big as renovating your kitchen. Depending on the scope of the project, you will either be able to do it yourself or have to hire a pro to come in and do it for you.
Either way, you need to budget money for these and other kinds of updates.
Additionally, Orland home sellers may pay expenses for items like home staging, carpet cleaning, and lawn care that are popular when getting ready to sell a house. But before you get to work on these to-dos, make sure you understand where your money will be best spent. You will be best served to make improvements in those areas that will help the home sell while also providing a return on the invested money.
While the home buyers are typically responsible for some of the line items when it comes to closing time, home sellers will pay the larger amount. The higher ticket items include real estate commissions, title and escrow costs, and any credits to the buyers towards the buyers’ closing costs. In addition, you may be responsible for some inspection costs, county transfer taxes, and other fees. Sellers should be aware that commission alone averages 5-6% of the sale price of the home. Credits towards buyers’ closing costs can be up to 3% or more. Some of these costs are negotiable in terms of which party pays for them and even how much the commission/credit/cost is, while others are not.
It is often advised that Orland home sellers plan on paying around 7-11% of the home’s sales price in closing costs, including commission.
The Bottom Line
Be prepared ahead of time by knowing what costs you are likely to incur in the sales process, what points you can negotiate on, and what leverage you may or may not have. Understanding what you can expect throughout the process can be extremely helpful in helping you prepare for closing, psychologically and financially.
Selling your house is an important time. Having a clear understanding of how much the process will cost you and what projects you should complete before the house goes on the market will only help with the success of the home sale. The more prepared you are from the start, the happier you will be at the closing.