Fees To Pay for When Selling a Home in Atlanta
Selling your home is one of the most important financial decisions you can make in your life. Regardless of the reason why you’re saying goodbye to your property, you deserve to have immediate results and a fair offer for your home, especially if you’re going through financial difficulties such as foreclosure, divorce, job loss, the recent death of a relative, etc.
Many homeowners decide to hire real estate agents as they’re the most traditional methods to sell properties. However, not everybody is aware of the fees necessary to deliver this process. If you’re trying to sell your house using the help of a qualified realtor, make sure to prepare your budget with anticipation. Let’s explore some of the most usual fees to consider.
Commissions
An agent’s commission is usually the biggest fee a seller pays. Realtors can charge 3-6% of the sale price, which means that if you sell your house for $25,000, you could end up paying $15,000 in commissions. You may be able to negotiate a lower commission, but keep in mind that realtors only lower this fee if the house is expected to sell quickly.
If you want to avoid commissions, you can always list your property on the market by yourself. If you do that, get ready to assume the duties of a real estate agent, including showing the place to potential buyers, negotiating, hiring a lawyer for all the documentation needed, and taking care of the transfer of title.
Home Repairs
One of the most common things home hunters do while they’re touring your house is checking if everything works properly. A leaking toilet or stained walls could influence the decision-making process of buyers; therefore, working on some repairs is crucial to enhance the appeal of your home and potentially raise its value.
Home repair expenses could vary depending on the level of damage. There are some repairs you could even perform by yourself without spending lots of money, such as replacing a damaged light bulb or adding a fresh layer of paint to your walls. However, more technical works like plumbing or electrical issues require the expertise of a professional.
Home Inspection
Getting a pre-sale home inspection allows you to spot any structural or mechanical problems with the house and work on the repairs needed before listing your home. Hiring an inspector could cost $400 or more, but it’s a great way to avoid future inconveniences with your buyer.
Home Staging
In every home-selling process, it’s essential to put yourself in the buyer’s shoes and ask yourself: “Would I be interested in buying my house after seeing its current condition?”. If you come to the conclusion that your home could be improved with some cosmetic repairs, here are some stylish ideas to consider:
- Give your walls a fresh coat of paint
- Steam clean carpets
- Replace burned-out light bulbs
- Keep every room tidy and clean
- Use neutral colors
- Rearrange furniture to add more space
Utilities
If you want to keep your potential buyer’s attention from beginning to end, make sure to continue paying for water and electricity. A home without air conditioning or heat can be very difficult to show to potential buyers.
Closing Costs
Some closing costs for sellers in a real estate transaction include property taxes, homeowners association fees, attorney fees, title insurance, and transfer taxes. Also, don’t be surprised if you have to pay for some of the buyer’s costs too, especially if you’re selling your property in a market with a high volume of homes for sale.
Property Taxes
Don’t forget about taxes. The seller should pay the prorated share of property tax up to the closing date. However, if you already paid taxes for the year, the buyer must reimburse you for the portion already paid that applies after the closing date.
Sell Your House With No Hassle
If you’re asking yourself: “Is there a way to sell my house fast for cash in Atlanta, GA?” we’ve got you covered. At Bogino Properties, we strive to provide homeowners with the financial relief they deserve. Forget about commissions, closing costs, and repairs. We buy homes in as-is condition without charging such costly fees. What are you waiting for? We’re just one call away.