Thinking about selling your house in McAllen? Traditional home sales carry several expenses, some of which you may not have taken into consideration. No matter if you select to work with a professional real estate agent or sell on your own, you’re likely to run into all of these expenses. We will explore five costs you may not be aware of when selling your house in McAllen.
Commissions and Fees
Along with the traditional commissions that real estate agents charge, there may also be fees charged for the brokerage services and other costs associated with using an agent. Even if you sell on your own, a buyer is likely to be working with an agent, who will take the commission from your profits. These commissions and fees can run into the thousands and are something you may not be aware of when selling your house in McAllen. There is a buyer’s agent commission and a seller’s agent comision and usuallly they are between 5-6% of the sale. of the house. The commissions wre deducted directly from the sale proceeds at closing, meaning the seller will get less money in the pocket.
In a hot market, sellers may have the luxury to negotiate comission rates with their agent. In a buyer’s market sellers may need to offer concessions to the buyers.
Marketing
Marketing is what listing is all about and while yard signs may bring in buyers, the internet is the new highway that brings buyers to your door. If you are still living in your home you may not want pictures of your belongins being shown on the Internet to complete strangers. Also you may need to stage your home, get professional pictures, and keep it presentable so the marketing can reach potential buyers and bring traffic.
Besides the inconveniences of showings, successful marketing comes with costs you may not be aware of when selling your house in McAllen. In order to compete, online listings require high quality photographs, submitted by a professional photographer. This may also include the services of a professional drone pilot for virtual tours given today’s high demand for this feature on listings.
Repairs
Prepping your home to be in selling condition may be one of the largest and most stressful of the costs you may not be aware of when selling your house in McAllen. When the last thing you want to do as a seller is to invest more money into the house (that you may not recover), this is just what you may end up having to do. Most buyers need a mortgage to be able to purchase their home and lenders will require inspections and appraisals. Inspections can require some expensive issues, especially in older homes. Structural issues, foundation, electrical, or even plumbing problems can literally run into thousands of dollars, and sometimes may not be feasible. And also any known issues with the home must be disclosed. If you aren’t able to afford the repairs or your home may not pass safety inspections required in today’s construction building codes – be ready to deduct the costs from your asking price.
Holding Costs
Holding onto a property that is lingering on the market carries costs you may not be aware of when selling your house in McAllen. One delay could be caused by your buyer being denied financing. That happens very often, even with a pre-approved buyer (during the process the lender can decide the buyer is no longer subject to obtain financing since the credit score or a specific situation changed). If you’ve moved forward with plans and relocated, holding the property becomes a burden and keeps adding to the listing costs to expect when selling your house in McAllen. Now, to avoid them there is another option to sell your home quickly, with a definite closing date and firm offer from Dolfin RGV!
Closing Costs
Closing costs for the seller are also costs you may not be aware of when selling your house in McAllen. While some of these costs may be negotiated in the contract, you’ll be responsible for items such as the transfer tax and title insurance, escrow fees, and closing fees along with any HOA fees, attorney fees, recording fees, and prorated property taxes. Some sellers also sweeten the deal to attract buyers by paying a credit towards the closing costs.
You could be facing a small fortune in costs that you may not be aware of when selling your house in McAllen. Why not avoid the listing costs you’d normally expect to pay by selling to Dolfin RGV instead? With a direct sale to Dolfin RGV closings are quick, most of the time within 30 days or less and you don’t need to worry about making repairs. Dolfin RGV takes on the risks, buying your home as-is. Dolfin RGV even usually pays all of the closing costs. Send us a message or call us at (956) 904 5234 today to find out more!