Hidden Costs of Home Selling (about 15,000) and How to Avoid Them. Did you know some metropolitan areas have hidden selling costs of up to $55,000? It’s true that San Francisco, Seattle, and LA, are vastly different markets than The Main Line, but we have a lot of hidden costs that sellers can avoid by taking some easy steps. Here are some of the hidden costs of selling and how you can avoid them.
In the US sellers spend on average, 15,000 to sell a home. When you are considering selling with a realtor, keep in mind certain expenses that come with selling a home. First are realtor commissions that are usually a percentage of the list price. You will not want to enlist the services of a realtor who forgoes commission. This is a red flag. Commissions pay for the marketing that goes into selling your home, which gest you the best price and terms.
Another portion of selling costs are staging fees and maintenance. One of the biggest mistakes a seller can make is to try to increase the list price through home upgrades prior to selling. Do not make this mistake. .Home improvements rarely recoup during a sale. As far as home staging on The Main Line. If you have a home that is upwards of 1 million, we recommend staging. Homes are selling so fast on The Main Line that often sellers want to have their home on the market and forego staging. This is a choice we leave up to sellers. Staging makes your home more competitive, but in this market with such low inventory, we would say list first. On the other hand, there are certain home improvement projects that should be undertaken prior to listing and those include minor curb appeal projects including cleaning up landscaping and paint freshening.
Last are transfer taxes and administrative fees including escrow fees and title insurance. You can shop around for the lowest fees, but really a good realtor will know what the fees should be and the when fees are due. As you are calculating your profit, you should consult a realtor who can offer guidance on what the real cost of selling a home is. Are you looking to sell on The Main Line? I am expert in pricing and am happy to price out your profit, just give me a call!
Remember, Kimmy Rolph Sells The Main Line and Local Areas.
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