The Average Cost to Sell a House: An Informative Guide
If you’re planning on selling your house soon, there are few things you need to know. For example, selling a house isn’t always easy. Selling a house isn’t always cheap, either.
While the individual choices you make throughout the process will ultimately affect your total costs, it’s important to know what lies ahead. In this article, we’re going to show the average cost to sell a house, broken down into several different categories.
But don’t worry, we’ll also provide you with an alternative option that can save you tons of money. Keep reading for a quick guide on the most common home selling fees.
Preparing Your House for the Real Estate Market
First, let’s look at the things most people do to prepare their homes for the market. Here, the name of the game is creating as much appeal as possible for buyers.
To accomplish this, the average homeowner spends close to $21,000. This includes:
- Repairs and renovations
- Residential cleaning services
- Professional house staging
Now, there are many ways to sell a home, and these steps are hardly mandatory. However, when selling a house traditionally, failing to take those steps will make it much more difficult to inspire buyers to make an offer. Yet, these steps add substantially to the average cost to sell a home.
Service Fees and Closing Costs
Now, let’s look at some of the more necessary home selling fees. The average cost to sell a home usually includes realtor fees, appraisal fees, inspection fees, and closing costs.
Realtors, such as Mays Gibson a Winston Salem realtor, typically charge 3% of your home’s sale price for their commission. However, many sellers end up paying their realtor fees and the buyer’s realtor fees, which would equate to 6% of the sale (at a minimum). If you sell your home for $200,000, you’re losing $12K right off the bat.
An official home appraisal and professional inspection are often mandatory. Most lenders won’t approve buyers for a house until these services are conducted. Together, these fees can add up to over $1,000.
Finally, closing costs can be covered by the seller or the buyer, though negotiations often end with the seller taking responsibility. These fees generally land at 3% to 5% of the home’s sale price.
A Different Approach
As you can see, the average cost to sell a house is quite exorbitant. When you add up all the home selling fees, you could be paying $30K to $50K just to sell your home.
Fortunately, there is another option. You can avoid these extravagant home selling prices by learning how to sell a house to a cash home buyer.
When selling to a cash home buyer, like those found at urbonline.net, you don’t have to make repairs on your home, even if it’s in rough shape. You can also skip the realtor fees, appraisals, and inspections.
Furthermore, cash home buyers cover the closing costs. If you accept their cash offer, you can close in a matter of weeks with very little hassle or money spent.
Want to Avoid the Average Cost to Sell a House?
As you can see, the average cost to sell a house varies greatly depending on your individual choices. However, selling a home traditionally entails tens of thousands of dollars, at best. Consider selling to a cash buyer to avoid these fees, save time, and limit the amount of work you need to invest.
And if you want more tips for selling a house, financial advice, or any other information, you’re in the right place. Before you go, take a look at some of our other articles to find more valuable insight.