Selling your home on the McAllen market either FSBO or with a realtor involves spending some of your money up front, giving some concessions to the buyers and settling up the remainder of the bill at the closing table. Adding al those expenses when you sell your house can become expensive; however, many homeowners fail to account for all the items they will eventually have to pay for during the transaction.
Watching your profits diminish by the costs of selling can be an eye-opener. We created this blog to help you estimate better the the costs when selling your house in McAllen.
Commissions
For example, one of the most significant costs when selling your house in McAllen is the commissions paid to real estate agents. Usually, sellers end up paying 6% o the selling price in commissions, half for the sellers and half for the buyers agent. So if you are selling a $150,000 house, you will likely be paying $9,000 in realtors’ commissions. On any real estate transaction, there will be other costs during closings, that amount to around 4% more, legal fees, title policy, taxes, etc.
In an attempt to save on commissions, homeowners often find themselves dealing with complicated paperwork, unexpected expenses, and even in legal hot water over disclosure laws.
Updates and Repairs
Updates and repairs are one of the major costs people face in order to get their house ready for showings when selling your house in McAllen. Sellers have tons of other things on their mind and significant repairs mean just another headache to worry about. In addition to visible challenges, often the most significant repairs may hide behind the walls or under the old fridge. In addition, sellers should replace worn flooring and modernize the decor throughout the home. At the bare minimum, homeowners should repair any damage visible to buyers during showings, such as a/c or roof leaks related stains on walls or ceilings.
Curb Appeal
Making your home feel inviting with a fresh coat of paint and some strategic landscaping and lighting are all part of the costs when selling your house in McAllen. To help bring the importance of this expense into focus, if you photograph your home from the street view and compare it to a house on the cover of a real estate magazine, you’ll understand all too quickly if your home has any curb appeal. Professional photos can be a deal breaker; potential buyers nowadays, scroll through hundreds of offers on the web and their eyes may skip some houses that don’t have a great curb appeal during the initial screening process.
Staging to Sell
When estimating the costs when selling your house in McAllen, add basic staging. The house that has a neutral presentation where buyers can easily portrait themselves living there (without distractions such as personal photos, kids projects, or specific lifestyle decor) may sell faster. Thus, sellers often hire a professional stager to get a house perfect for showings. Based on human psychology, top real estate agents understand that staging listings have proven to be well worth the trouble, given the potential to increase the final sales price. The stager will walk the house and suggest what decoration to use, which furniture pieces to eliminate or rearrange, what to hide or add to the picture. If the seller is facing financial difficulties, the cost of using a stager (and taking some items to storage to declutter the house) may not be an affordable option.
Marketing Costs
Don’t skip on marketing costs when selling your house in McAllen. What is certain is that the monthly utility bills and mortgage paymentswill keep coming as well as the costs associated with yard maintenance, and property taxes up to the closing date. If your new home is not a driving distance, you may need to hire a cleaning service to keep the property in showing conditions while you are able to close the deal.
Inspections and Appraisals
Hiring professional inspectors and appraisers is a necessary cost when selling your house in McAllen. Most of the buyers typically need to qualify for a mortgage to purchase your home; the lender may be changing conditions up to the closing date and he will be requiring specific inspections to give the final approval of the loan. Some problems discovered during the inspection may cost you even more in additional repairs and they will certainly add time to the selling process. In addition, often the appraisal comes under the sales price and in that case the buyers will require additional financing because the loan doesn’t cover the cost of the property. If the buyers cannot come up with the additional money, the seller has to start all the selling process again.
Concessions
When problems arise after an inspection, if your buyers don’t walk away, you may find yourself absorbing the costs when selling your house in McAllen. What happens many times is that sellers offer credit to the buyers towards the repairs to save the deal or complete the repairs before the closing.
Closing Costs
The closing process adds to the costs when selling your house in McAllen along with title insurance, taxes, and sellers have to pay any document fees and the remainder of the mortgage and any loans or liens on the property at this time.
Dolfin RGV
With Dolfin RGV, the process is straightforward ; selling your house in McAllen directly to Dolfin RGV eliminates commissions, inspections, repairs, and all the stress. At Dolfin RGV, save time and money with our full-service team, a guaranteed closing date, and cash for your home as-is, making the process quick and easy. Call Dolfin RGV at (956) 904 5234 or send us a message to learn more.