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If you’re like most Americans, you’ve got one of two problems. Either you need to keep moving to advance in your career, or you can’t afford to stay in your current home.
If you’re in the former group, you’re probably already looking into selling a house fast. The last thing you want to do is waste months and thousands of dollars listing a home with a real estate agent when you need to move quickly.
To learn more about how much does it cost to sell a house in a hurry, keep reading below.
Understand the Fees of Selling a House
When selling a home, one of the most important concerns is understanding the home selling fees associated with the process.
Typically, it’d cost the seller around 8-10% of the home’s sale price in order to cover the real estate agent’s commission, closing costs, and other necessary fees. These costs should be factored into the total cost of selling the house.
Also, a seller may need to be prepared for fees such as title insurance, transfer taxes, and legal fees. This could add an additional 1-4% of the sale price to the total.
Factors that Impact the Cost of Selling a Home
The average cost will vary depending on a number of factors such as the real estate market in your area, the size and condition of the home, and any additional services you require from your agent. You may also need to pay for repairs or renovations before selling the property.
Additionally, the type of home you are selling and any associated fees can increase the total cost. Depending on the size and details of the sale, real estate agent fees can range anywhere from 3 to 6 percent of the sale price.
Pros and Cons of Hiring a Real Estate Agent
A big consideration to make before selling a home is whether to hire a real estate agent or not. Pros of hiring an agent include their market knowledge, ability to successfully advertise your property, increased negotiation skills, and finding a competitive offer on the property.
However, the cons of hiring an agent include the cost of paying an agent’s commission as well as in some cases a registration fee. Ultimately, it may be worth it to hire a real estate agent because their expertise and assistance can help to make a sale successful, even if it is expensive.
Save Money by Selling Your Home Yourself
Selling your own home to save money generally entails understanding some of the typical costs associated with a sale. Many other fees are associated with a likely sale. To begin with, there will be taxes due on the sale and possibly a capital gains tax if you’ve owned the house for more than 12 months.
You can also research on how to sell your house quickly. This will ensure that you will get fast cash in no time!
Know the Cost to Sell a House Today
Selling a house can be both expensive and time-consuming, but understanding the cost to sell a house can help make for an efficient sale.
From legal and professional fees to transfer taxes and other closing costs, there are many expenses to consider. As with any major financial decision, researching and planning for the costs involved can help you make the best decisions for your situation.
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