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Common Home Selling Fees
If you’re planning on selling your house, you may be thinking that it’s a quick, simple, and no-cost process. All you’re doing is waiting for an offer to come in and then you get the money for the sale, right? Well, it’s not quite that simple. Even though you do get money from the sale at the very end of the process, there are still expenses and fees that are associated with selling. Keep reading to learn what those fees and expenses are and find out how much money you can save when we buy your house!
The team at Legacy Investment Group believes that selling your home should be quick and simple, and that you should get most, if not all, of the money from the sale. We buy houses in the Anne Arundel County area so that you don’t have to pay unnecessary fees or hidden costs. Get in touch with us today to learn more about the cash offer process.
Costs Associated With Selling Your House
If you work with a traditional real estate company, this is where the biggest fee goes. The realtor who helps you get your house ready for sale, puts it on the market, ensures the right people see it, and handles all negotiations need to get paid — and they often get a 5 to 6 percent commission on the sale price. The average home price in Anne Arundel County is around $340,000, so a 5 percent commission could mean $17,000 being taken and split between the seller’s and buyer’s agent. Wouldn’t you rather keep that chunk of money in your own pocket?
Any realtor who is great at what they do will suggest sprucing up the look of your home, whether it’s giving a fresh coat of paint in the living room, adding mulch to the outside garden bed, or maybe even installing new energy-efficient windows. But at what point are you spending too much money to make your time, effort, and resources worth it? That’s a fine line that experts have a hard time nailing down. We buy houses regardless of the condition they’re in, so you don’t have to spend any money on home repairs.
In the same realm, staging the home, while it does attract more buyers, does add an expense to the home selling process. Staging is a separate beast that sometimes involves experts, renting pieces of furniture, or renting a storage unit in order to make space in the home for staging. However you look at it, staging your home costs money.
Have you already moved out of your home, and your realtor is still showing potential buyers the house? In this heat, if a potential buyer walks in a stuffy, hot house, that’s probably all they’re going to remember, instead of the high ceilings, open kitchen, and master suite. But in order to keep your home cool for showings, you will need to pay for air conditioning until the new owner can take over.
When you do find a buyer for your home, there is a transfer tax, which passes the title of the property from your name to the new owner of the house. In Anne Arundel County, the transfer tax rate is $7.00 for every $1,000, rounded up to the nearest $500. So if your home is worth $350,000, the transfer tax is $2,500. What would you do with an extra $2,500?
Just like home staging and repairs, it’s another thing that you’ll have to add to the list. Whether you hire a professional cleaning company or put in the time and effort yourself, resources are going toward cleaning your home before a potential buyer visits the house. And this might have to be done before every open house or showing, especially if you have messy pets or a busy household.
So even though you are on the selling end of the process, a good chunk of the sale price is being taken out and given to other people involved in the sale. At Legacy Investment Group, we buy houses efficiently and quickly so that you can get the most out of your home possible. If you live in the Anne Arundel County area and want to sell your house fast for cash, get in touch with our team today! There are no hidden fees and we’ll make a cash offer regardless of the condition of the home. After an initial interview and visit to the home, we’ll make you a no-obligation cash offer so you can move out of your house quickly.