Don’t rush into hiring an agent to sell your Savannah house before doing some math and exploring all of your choices. The costs of listing with an agency are considerable; occasionally, a direct sale is a more profitable option. Before you sign a listing agreement that ties you to an agent, educate yourself on all potential outcomes!
Here is a list of just a few of the costs you may have when listing with an agent:
Commissions – 6%+ of the final sale price
In most cases, the seller covers all commission costs in full. The proportion can change, although it usually hovers around 6%. Agents frequently charge administrative, agent, and notary costs in addition to commissions.
Inspections – A few hundred dollars, depending
After the inspection is done, repairs that must be made are negotiated between the buyer and the seller. Normally, the buyer will cover the inspection as part of the closing fees, but more sellers are now doing so as a negotiating strategy.
Appraisals – A few hundred dollars, depending… again…
In some cases, sellers will have appraisals done on their own as a negotiation tactic for a sale. If any appraisal is done on your property, make sure you keep a copy for your records.
Cleaning – $0 to a few hundred??
Your home must be spotless if you plan to sell it. as in really, super duper clean. The house should either have a thorough cleaning from top to bottom or you should do it yourself. The house will need to be kept spotless constantly for open houses, unexpected showings, and passersby who just want to look around. Keeping your house in peak condition may require some outside assistance if your calendar is already somewhat busy. The cost will change based on the size of your house and the degree of cleaning required. Expect to pay up to $100 for each cleaning.
Staging – $0 to a few hundred
Perhaps you’ve already decorated your home with fresh hand towels, candles, throw pillows in vibrant colors, and strategically placed houseplants. For the rest of us, it will take some effort to truly give your home that “straight out of a catalog” appeal. There are numerous wonderful ways to DIY or discover deals at a big box store, so this doesn’t have to be expensive. No matter what you do, make sure to maintain a neat and polished environment. If interior design isn’t your thing, enlist the aid of a buddy or go on Pinterest. A space can be made to feel like a home with just a few basic objects if you know how to stage it.
Repairs – ?? (Based on the state of the house)
As was already said, a buyer and a seller will need to discuss repairs. If there are repairs that need to be made that you as the seller are aware of, it is essential to mention them and let prospective buyers know that these costs have already been factored into your asking price. Bring a credit for repairs to the table so the buyer will feel confident buying the house. An inspection may reveal additional repairs that must be made, and any terms must be agreed upon before the transaction is finalized.
Continued Bills While The Property Is Still On The Market – Results Vary (Possibly thousands of dollars!)
You will still need to keep the utilities on even if you have left your house while it is on the market. There is no way to predict how long it will take for your home to sell before you list it. It can take months! Up to the closing date, you are also in charge of paying the property taxes and homeowners insurance. These costs can build up quickly if your property is on the market for an extended period of time, which many homeowners experience.