30 Apr What I Wish I Knew Before I Sold My House
Turn on any HGTV show and it is clear that selling a house means that your home must look like something out of a Crate and Barrel catalog. The perfect kitchen, and perfect bathrooms are a must, all in an effort to create a dreamlike setting. If your house is not picture perfect in today’s market, it is almost certain to sit on the market. Selling a house can be one of the most stressful times in life, but it doesn’t need to be. All the steps and costs that sellers encounter when they list their house in a traditional manner add to that stress.
The cost of home repairs
Before you put your house on the market, you will need to take stock of all the repairs that have to be made to prevent these issues from stopping the sale in its tracks once the house goes under contract. This can range from simple repairs to paint and sheetrock or as serious as a dealing with a blocked sewer line or foundation issues. The reality is that many home sellers have to sink thousands of dollars into their home just to get it ready to sell.
The cost of staging a house
Competition is steep when it comes to selling a house today. A house which appears drab, cluttered or too “lived in” will be sure to sit on the market. According to Realtor.com staging a house will sell it 88% faster than a non-staged house, but at a serious cost. The national average for staging ranges from a 300-600 for an initial consult, with $500 to $600 per room per month and a three-month contract. That means that the average seller is sinking $3,000 into their house simply to sell it.
The cost of inspection
House inspections are required when you sell your house with a traditional listing agent. The cost for a house inspection alone is $300 to $400 and there will surely be issues that need to be addressed and negotiated before the deal is sealed. While this is a smaller cost than many that can be accrued during selling, the inspection process alone is very stress inducing and can even stop a sale from being completed leaving the seller back at square one.
The risk that the buyer cannot secure a loan
Is the offer on your house too good to be true? Sometimes the answer to this is yes. A buyer can make an offer over your desired price, but that does not mean that they will actually be able to get the loan financed. In some cases, the house is not appraised for what the buyer has offered to pay or the buyer can even be denied the load when it comes time to finance.
The cost of real estate commissions and closing costs
While it is fun to dream about how much money your house has appreciated over the years, it might just be that all of those extra dollars will be gobbled up in commissions and closing costs. You need to expect to spend 5 to 6% of the sale price in real estate commissions and 2 to 5% in closing fees. If you do the quick math, this could be a large chunk of change that will no longer be in your pocket once the sale is complete.
Want to simplify this process? At Core Properties that is our one goal. We want to take the extra fees and headaches out of the process. We will buy your home for cash as is. This means that you can do nothing at all to your current house and will not have to wait and fret for weeks for the sale to be completed. At Core Properties we put cash in your wallet and leave you with time on your hands to enjoy it.