Are you gearing up to sell your Sacramento home? Before you ink any deals with a real estate agent, take a moment to dive into the numbers and explore all your options. The truth is, there are several hidden costs associated with listing your property with an agent. Let’s delve into these expenses and consider whether a direct sale might be a more profitable path. Knowledge is power, so let’s make sure you’re well-informed before you commit to a listing agreement!
1. Commissions – The 6% Burden
Traditional real estate transactions come with a hefty price tag, often in the form of commissions. Typically, these commissions amount to around 6% of the final sale price. On top of that, you may find yourself shelling out for administrative, agent, and notary fees. It’s a significant chunk of your hard-earned equity.
2. Inspections – Negotiating Your Way
Usually, the buyer takes care of inspection costs as part of the closing expenses. However, it’s not uncommon for sellers to step up and cover this expense as a negotiating tactic. After the inspection, any necessary repairs become a point of negotiation between the buyer and seller.
3. Appraisals – Who Bears the Cost?
Typically, it’s the buyer’s responsibility to pay for the appraisal. Lenders usually require a thorough appraisal before sealing the deal. Yet, don’t forget that this cost can be up for negotiation, and in some cases, sellers opt to foot the bill themselves to sweeten the deal.
4. Cleaning – Sparkling Homes Sell Faster
Selling your home? It needs to be spotless. No, really spotless! Be prepared for a deep cleaning, whether you do it yourself or hire professionals. Potential buyers will be popping in at all hours for showings and open houses. The cost varies depending on your home’s size and the level of cleaning required, but expect to pay around $100 or more per session.
5. Staging – Create That Wow Factor
If your home already looks like it’s straight out of a catalog, kudos! For the rest of us, creating that picture-perfect charm might require some work. But it doesn’t have to break the bank. You can find budget-friendly ways to stage your home with DIY projects or deals from big box stores. Remember, a few well-placed decor items can transform a room and make it feel like home.
6. Repairs – A Variable Expense
Repairs are a sticking point in many real estate transactions. It’s best to be upfront about any known issues and let potential buyers know these costs are factored into your asking price. Consider offering a credit for repairs to give buyers peace of mind. If new problems surface post-inspection, they must be addressed and agreed upon before the sale can proceed.
7. Bills While the Home Is on the Market – The Ongoing Costs
Even if you’ve moved out while your home is on the market, you’ll need to keep the utilities running. The length of time your property sits unsold can be unpredictable, possibly stretching for months. Don’t forget that you’re responsible for property taxes and homeowners insurance until the closing date. If your home lingers on the market (a common scenario), these bills can add up to a significant sum!
A Better Way to Sell Your Sacramento Home
But here’s the good news – there’s a simpler and more cost-effective way to sell your Sacramento home without the burden of commissions and fees. Give us a shout, send us a message, or ring our office at (916) 476-2381 to learn more! Laurel Buys Houses is here to help you make the best choice for your unique situation.