There are a number of expenses to expect with a traditional sale of your Detroit home. Find out if working with an agent is really the right choice for your situation and property in our latest article! Working with a Realtor in Detroit to sell your house isn’t always worth it. When you factor in the costs, time and effort required on your part, you may find that an alternative method of selling is the better choice for you. Below, we list five major expenses to expect with a traditional sale in the Metro Detroit area real estate market.
When selling your house in Detroit, it will likely require you to do some repairs. The little things in your house that need touching up can add up quickly. And if your house needs major repairs, the costs will obviously grow much higher. Once the house is listed and an offer is eventually made, your potential buyer will pay to have an inspection done for the property. If all checks out, great! However, many times the buyer will come back with newly discovered repair costs they will request that you credit them for the amount of the repair or fix the item yourself before the property closes.
When putting your house on the MLS in Detroit, you’ll want to put your best foot forward. Even for the cleanest people out there, this may require the services of a professional cleaning crew to come through. Or maybe you need to hire people to come in and clean the carpets, power wash the outside or to rejuvenate stained floor tiles. Even if you aren’t in a situation where you need to hire a professional cleaning company, you will still have to tend to these things yourself which requires your time. That in of itself is very valuable.
The level of marketing provided by a real estate agent in Detroit will vary. While some ill provide comprehensive marketing plans at no costs, others will supply just the basics. You’ve seen the different types of listings. Some houses are staged with professional photos to make spaces look larger than they are. Then there are listing with photos taken by a cell phone camera, highlighting unmade beds and laundry on the floor. Having the top-of-the-line listings that will get the most attention will likely cost you a bit more in the long run. If you do decide to list your house in Detroit, make sure you know exactly what’s included. Between exclusive listings, signage, and print materials, you could be looking at many expenses you hadn’t planned for.
This is definitely among the top costs to expect with a traditional sale. In some cases, working with a Detroit real estate agent can be great, making their 6% commission fee well worth it. However, for rother properties paying this amount in order to sell your house isn’t worth it. Six percent of your final sale price can be a large sum of money. Make sure your agent will be able to get you enough money for this high cost to make sense. Run the number before signing a listing agreement with a Detroit real estate agent. For some Detroit homeowners, a direct sale can be a better choice for the sale of their unwanted house.
A home seller in Detroit will likely spend 1-3% of the total sale price in closing costs when selling with a real estate agent. Things like recording fees, settlement fees, title search fees, surveys and pre-payment penalties are all paid at the closing table. Most of these expenses will be eliminated when working with Detroit Fair Offer.