Do you know about the costs of selling your house in the McAllen area? Learn what to expect before putting your house on the MLS, selling on your own, or working with a direct buyer. You might be surprised at how the costs of selling can eat away at your profits!
Selling your house can be expensive. There are a number of things to pay for both before and after the sale. If these costs are particularly high, a direct sale will be a far better choice. In our latest post, we will dive into the costs of selling your McAllen house using the three most popular methods. Compare all of your options before selling your house in McAllen!
Costs Of Listing
Real Estate Agent Costs
This will vary based on the agent you choose to hire. You will typically be paying about 6% of the final sale price to the agents involved in the deal. With some agents, you will also face costs for marketing and administrative services. Be sure you know what’s included before signing a listing agreement.
Marketing Costs
Whether or not your agent includes marketing services in their rate, there are a few marketing costs you consider adding. For example, many sellers will hire a professional photographer to take pictures of their home. Some will utilize videographers or even drone service companies to get aerial shots of the property. You might also want to upgrade your online listings to “premium” so they show up at the top when people are browsing through houses in your area.
Repair Costs
Most houses will require at least a few repairs before going on the MLS. Once a buyer has been found, there will likely be negotiations as to who makes the repairs found during the inspection. You can negotiate to either make some of these repairs or discount the sale price of the home.
Cleaning And Staging Property Costs
Most sellers will have their homes professionally cleaned before putting it on the market. Many will remove personal belongings and clutter, storing all unnecessary things elsewhere. Some will even hire a professional stager to come in to make the house look as if it came out of the pages of a magazine.
Closing Costs
In a typical home sale, the seller will need to pay about 2% of the final sale price in closing costs. This can be negotiated up or down between the buyer and seller, but 2% is typically what you can expect to pay.
Holding Costs
Listing your house with a McAllen real estate agent, means your house will be on an MLS and can take few months to sell. Until closing day, you still have to pay property taxes, utilities, homeowners insurance, maintenance, cleaning, landscaping, and possibly a mortgage. When you add up all the expenses of owning the house each month, it can amount to thousands of dollars!
Costs of An FSBO (For Sale By Owner) Listing
While trying to sell your house on your own will help you avoid commissions and agent costs, there are other costs to consider. In addition to many of the costs above, here are some additional costs to expect when selling your house in the McAllen area.
Extra Marketing Costs
When listing your house, the addition of extra marking is at your discretion. However, when you are selling on your own, 100% of the marketing is on you. Online listings,flyiers, signs, and open house involve spending some money that adds on quickly. More than likely, you’ll need to pay for professional pictures, since they will help you present the house in the best light for potential buyers. You can also invest in virtual tours or videos of your property.
House Preparation Costs
Getting a house ready for a sale can take a lot of work. As with a listing, there are some things that will have to be taken care of before the house is advertised for sale. First of all, you will have to thoroughly clean the house from top to bottom (don’t forget the fans and door knobs). You should make any needed repairs, and be prepared for more to come after the lender sends the inspector. Many sellers will also need to rent a storage unit and invest in staging or decoration.
Time is Money
When you choose to sell the property on your own via an FSBO listing, you will find yourself spending an excessive amount of time dealing with the sale. You will need to be available for showings, create listings and marketing materials, respond to questions, process paperwork, handle negotiations and more.
Costs of Selling Directly
None
When you opt to sell your McAllen or surrounding area house to a local buyer such as Dolfin RGV, you will be able to avoid all of the selling costs mentioned above. There are no fees, repair costs, end we even help you with closing costs. We buy directly, as-is, potentially saving you thousands of dollars along the way.