Five Hidden Costs When Selling Your House
A house holds countless memories and unlimited memories that a family shares together in it. When considering moving and buying your own house there are some items you may want to consider in your search.
First there is the issue of financing. It is recommended that you get pre- approved for a mortgage before you go and start to shop for your new house. This way you know what price range and therefore what monthly payment is right for your budget.
When people are younger and at the beginning of their career they have limited budget and their requirements for a house are smaller. Therefore, the first house purchased is usually small. However, as you progress in your career and your family begins to grow, one starts feeling the need for a bigger house or different neighborhood where the schools may be better.
Hence, comes the time when people start thinking of selling their old house and purchasing a new one. However, it is also true that selling a house is not that simple, it is not only monetary but an emotional decision as well as people have spent a part of their life in that home and have lots of memories attached with the house. There are also times when you need to sell but due to the economy you may have no equity and need to work with someone who understands the short sale process.
The emotional part is not the only thing that people have to tackle, but they have to deal with the other issues as well where they have to find a suitable buyer who are willing to pay the right price for their home.
Potential buyers do not take into consideration how much the owner loves the house and how much he spent on maintaining it, what matters to them is If it fits their requirements or not and if they are getting it at the price that they want. Sometimes it can take months or even up to a year to find the right buyer for your property. There are the we buy houses buying companies like ours that help people sell their house fast so they don’t have to pay for and maintain two houses at the same time.
Here are five common reasons why you can’t sell your house:
House Needs To Much Work – Cost of Renovation
Sometimes the house outdated and it doesn’t fit into today’s styles and modern trends. When a potential buyer envisions living there the only thing they can see is all of the things that will need to be updated in order to make it their perfect home. In these situations, the house needs lots of renovation as well as repairs. The cost of such renovation can be huge depending on the current situation of the house and how the buyer wants it to look. This is one of the major things that a buyer looks into while inspecting a property. Well maintained and renovated houses are likely to attract more buyers and they can get good price as well.
Real Estate Agents Fees
The Real Estate agent’s fee is another hidden cost that sellers should keep in mind. Agents are the middlemen who serve the gap between buyers and sellers. They have their own contacts that they use to sell the house. The fee of the agent depends upon his reputation and experience. More reputed and experienced agents charge high fees but at the same time, they are capable of getting good buyers for your home faster and you can expect to get get top price for your property.
Maintenance is one other thing that should be considered. While inspecting, the clients will check how the house looks, if all electrical has been upgraded, if the ac and heat are newer and in good working condition. Another big item is the roof and in some areas in order for insurance companies to insure the house they may want to see a house with a newer roof. (10 years or less) Just consider the overall condition and upkeep and if there is a need for other such random maintenance etc. Sellers have to take care of all these things before putting their house on sale.
The Cost of Moving Out
The house is sold, the agreement is signed. There is still one very important thing left to do. You have to leave the house and move to your new one. It is not possible that you stay in the house you just sold. The moving out part requires the expenditure of resources too. You have to hire a moving company which transports your belongings from the old house to the new one. This cost is missed almost all the time. So keep this in mind with your budgeting. depending on the amount of items moved and the distance this can really add up.
Property Survey Cost – Closing Costs
If the buyer of the property is not responsible for paying for the survey and you are considering including it so the buyer can obtain a mortgage, the buyer will need a copy of the latest survey of the property. .If it has been a long time since you had the property surveyed or have made changes and renovations to the house you will need the most updated survey for the buyer.
You can definitely negotiate with the buyer to bear the expenses for the survey, but it is usually the responsibility of the seller to get the property examined and present the survey report at the time of the agreement
Learn the Blonde Girl Homebuyer’s Process
If you want to sell your property “as is” on the date of your choice and not worry about making any repairs or worrying if the home inspector is going to find a bunch of things wrong and kill the deal than give Blonde Girl Homebuyers office a call or visit us here:
Blonde Girl Homebuyers – Jacksonville Home Buying Company Offices
3948 3rd St S # 134
Jacksonville Beach FL 32250-5847