If you are considering selling your house there are certain things you should be aware of. Traditional home sales carry multiple 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 look at some costs you may not be aware of when selling your house in Detroit.
Fees
Along with the traditional commissions that real estate agents charge, there may also be broker fees charged for the 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 informed of when selling your real estate in Detroit.
Marketing Costs
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. Besides the inconveniences of showings, successful marketing comes with costs you may not be aware of when selling your house in Detroit. 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
Preparing 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 Detroit. When the last thing you want to do as a seller is to invest even money into the house, this is just what you may end up having to do. Inspections can deliver some very expensive news, especially in older homes. Structural issues, foundation or even plumbing problems can literally run into thousands of dollars. Any known issues with the home must be disclosed. If you aren’t able to afford the repairs, be ready to deduct the costs from your asking price.
Holding Costs
Holding onto a house that is lingering on the market carries costs you may not be aware of when selling your house in Detroit. One delay could be caused by your buyer being denied financing. If you’ve moved forward with plans and relocated, holding the property is a burden and adds greatly to the listing costs to expect when selling your house in Detroit.
Closing Costs
Closing costs for the seller are also costs you may not be aware of when selling your home in Detroit. 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, there are also escrow and closing fees along with any title company or attorney fees and prorated property taxes. Some sellers also sweeten the deal to attract buyers by paying a credit towards the closing costs.
Send us a message and allow our team of experts at Detroit Fair Offer to answer any of your questions about the costs associated with selling your house in Detroit. Or call us at (313)647-8806 to find out more!