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In 2018, 5.34 million people sold their home. For most people, they’re so focused on the money they’ll get from the sale that they overlook the costs.
Selling your home isn’t like getting a free check to put a lot of money in your pocket. You need to understand the costs that pop up when selling your home.
So how much does it cost to sell a home? Check out this guide and find out.
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How Much Does It Cost to Sell a Home?
The answer to this question will change based on the method you use to sell your home. The most popular way people sell their home is by the owner, through an agent, or to a cash investor.
Real Estate Agent
If you choose to sell your home with the assistance of a real estate agent, then you’ll need to pay them a percentage of the sale. It’s the agent’s job to get you the best price for your home, so it’s in their best interest to get you the most possible.
In addition to the agent’s commission, they may have you make repairs and improvements to the home. This will help put the home in the best light before going on the market.
Then you may also have to pay for staging. This will make the home look more inviting and desirable to potential buyers. This could also include an inspection to uncover any potential problems with the home.
Once you find a buyer, you can expect to pay closing costs, capital gains tax, fees, and property taxes.
If you decide to sell your home on your own, you can avoid paying a real estate agent their fee. However, you’ll still have the expense of making repairs, improvements, inspections, and closing costs.
You may also incur some additional expenses. As a private owner, you won’t have access to the MLS, so you’ll need to post your home on other websites. You’ll also need to advertise your home, which are costs that come included with your real estate agent.
The most cost-effective way to sell your home is to a cash buyer. You can avoid almost all of the fees associated with selling through an agent.
When you decide to sell my house as is, many of the costs associated with a traditional sale are no longer relevant. You won’t need to make repairs or renovations. There’s no need for a pre-sale inspection.
You can also find cash buyers that will take care of the closing fees. This means you’ll pay the minimum amount of costs and fees with a cash sale.
Sell Your Home Today
So are you ready to sell your home today? Before you choose a method for selling, you need to consider the potential costs associated. Once you answer how much does it cost to sell a home, you can make an informed choice.
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