Many homeowners can be blindsided by how much it truly costs to sell a home. This is why we decided to break down some of the costs you can expect to incur if you decide to work with an agent to sell your home and why selling for cash can end up putting more money in your pocket.
Commissions & Fees
Obviously, the biggest and most common expense when selling your home will be the commission and fees that your agent charges. This usually ranges anywhere from 3-6% of the final selling price. For example, if your home sells for $300,000 you can expect to hand over up to $18,000. On top of that, some deals require the seller to pay the closing costs which can include HOA fees and property taxes.
On the other hand, some cash buyers (Noah Development included) do not charge any commission or fees meaning they’ll appraise your home and pay you what its worth with no questions asked!
Maintenance/Repairs
Prior to any sale, a walkthrough or inspection of the property will be performed regardless of if you’re working with an agent or cash buyer to determine the state and estimated value of the home. If any issues are uncovered such as structural damage or broken appliances this can severely impact the negotiation which is why most agents will highly recommend you to get them repaired.
While it is ultimately up to the seller to decide if they want to pay for renovations, in some cases agents will not even list the home at all until it meets a certain standard. Noah Development purchases homes as-is though regardless of its current condition but keep in mind this will still be factored into how much you are offered.
Miscellaneous
Agents will also try to convince you that staging the home will increase the value when it comes time to show off the home so they will recommend a number of miscellaneous projects. These include getting the home professionally cleaned, which depending on the square footage can get expensive, landscaping to improve curb appeal, and once all of this is done photography in order to properly list and advertise the home. These may not seem like huge expenses but they can add up to a couple thousand dollars.
In most cases, cash buyers will close on your schedule so if you don’t want to spend the time or money on these types of things they will not require it.
Get Paid Fast!
Our team at Noah Development works hard to take the hassle out of selling your home which is why we don’t take a commission and close on your schedule. To schedule a FREE consultation, give us a call at 516.333.NOAH (6624)!