When selling your Front Royal home, don’t rush into signing with an agent until you run some numbers and learn about all of your options. There are many costs of listing with an agent, sometimes a direct sell is a more lucrative choice. Educate yourself on all scenarios before you sign a listing agreement that binds you to an agent!
Here are just a few of the costs you might encounter when listing with an agent:
Commissions – 6%+ of the final sale price
Commission fees are usually paid in full by the seller. The percentage can vary but is typically around 6%. In addition to commissions, agents will often have administrative, agent and notary fees.
Inspections – At least a few hundred dollars
Normally, as an integral component of the closing expenses, it is customary for the buyer to cover the costs associated with property inspection. Nevertheless, in a strategic maneuver during negotiations, an increasing number of sellers are opting to shoulder this financial responsibility. Subsequent to the completion of the inspection, any necessary repairs are subject to negotiation between the buyer and the seller.
Appraisals – A few hundred dollars
Frequently, the burden of arranging for a property appraisal falls upon the purchaser. Should the purchaser engage with a lender, the lender typically mandates that the property undergo appraisal prior to concluding the transaction. Nevertheless, the expense associated with the appraisal is subject to negotiation and may ultimately be assumed by the seller.
Occasionally, sellers opt to commission their own property appraisals as a strategic maneuver during negotiations for a sale. Should such an appraisal be conducted on your property, it’s imperative to retain a copy for your personal records.
Cleaning – $0 to a few hundred
When preparing to sell your house, cleanliness is paramount. It’s not just about tidying up; the property should be meticulously clean. Consider scheduling a deep cleaning session or dedicate yourself to thoroughly cleaning every inch of the house, from top to bottom. Given the frequency of open houses, impromptu showings, and visitors stopping by to view the property, maintaining a consistently clean environment is essential around the clock. If your schedule is already packed, managing this upkeep may necessitate seeking external assistance. The cost of professional cleaning services can vary based on factors such as the size of your home and the extent of cleaning required, typically ranging from $100 upwards per cleaning session.
Staging – $0 to a few hundred
Perhaps your home is already adorned with new hand towels, scented candles, vibrant throw pillows, and strategically positioned houseplants, in which case, kudos to you! However, for the rest of us, achieving that coveted “straight out of a catalog” allure will require a bit of effort. Fortunately, this endeavor doesn’t necessarily entail exorbitant expenses; there are numerous budget-friendly DIY options or opportunities to discover deals at major retailers. Regardless of the approach you take, maintaining a tidy and cohesive space is paramount. If interior decorating isn’t your forte, enlist the assistance of a friend or seek inspiration from platforms like Pinterest. Incorporating a few carefully chosen pieces can effortlessly tie a room together and imbue it with a genuine sense of homeliness.
Repairs – Varies
As mentioned above, repairs will need to be negotiated between a buyer and a seller. As a seller, if there are repairs you are aware of, it is best to acknowledge them and let potential buyers know these costs have already been calculated into your asking price. Come to the table with a credit for repairs so the buyer feels secure about purchasing the home. If new repairs come to light after an inspection, these will need to be taken care of and terms agreed to before the sale becomes final.
Bills While The Home Is On The Market – Varies (Can be hundreds or even thousands!)
Even if you’ve vacated your home while it’s listed on the market, it’s imperative to maintain active utility services. Once your property is listed, the duration it takes to secure a sale is uncertain and could extend over several months. Moreover, you remain accountable for property taxes and homeowners insurance premiums until the closing day. If your home remains unsold for an extended period, as is common in many cases, these ongoing expenses can accumulate significantly, potentially amounting to a substantial financial burden.