THE COST OF SELLING YOUR HOUSE: IS IT WORTH IT?
Right now, you may be asking, How much does it cost to sell my house? That depends on a lot of factors, including the method you use to sell your house. For instance, if you choose to sell your house fast in Tacoma, you may incur little to no expenses. You can also sell your house in as little as three to four weeks.
In a traditional house sale, your expenses may include realtor commissions, home repairs, closing costs, marketing costs, and staging your home. You can avoid the realtor fees and commissions with a for sale by owner (FSBO) sale. However, you’ll still incur several of the other costs. Let’s take a closer look at the cost of selling your house and whether it’s worth it.
HOW MUCH WILL YOU PAY TO SELL YOUR HOUSE
Here is an overview of the various expenses you will have to pay to sell your house:
|Asking Price: $250,000||Cost of Sale||Percentage of sale price|
|Inspection and Appraisal||$350||1%|
|Total Cost to Sell Your Home||$36,300||15%|
When combined, the expenses add up to about 15 percent of your house’s sale price. That means that if you sold your house for $250,000, you would end up losing almost $37,000 of your profit. If you still owe money on your mortgage, after the sale, you may not make any money at all. This can be disheartening considering all the time and effort you may have to put into a traditional sale.
Home Repairs and Renovations
Repairs are designed to make your home sellable. Renovations are designed to make your home more attractive (staging your home). Both can cost you thousands of dollars that you were not planning to spend. Common repairs that you may have to fix after a home inspection include:
- Structural defects
- Roofing repairs
- Building code violations
- Safety issues
- Electrical or plumbing issues
- HVAC system
- Insulation or drywall
According to HomeAdvisor, Major home repairs typically cost between $5,000 and $20,000 depending on what home component needs to be repaired or replaced. At least 70 percent of all homeowners have to make one major repair before they could sell their home. The average homeowner must pay for three home improvement projects to get the house ready for the market.
Home Appraisal and Inspection
The average cost of a home inspection is $250 to $400. While that seems like a small expense, the purpose of an inspection is to identify BIG problems with your home. A small inspection fee can turn into hundreds of dollars in repairs and renovations in major systems in your home (more on that below).
Appraisals are similar to inspection in that the appraiser inspects your home and looks for any problems. In some cases, an appraiser and inspector more perform the same job. However, the difference is that an appraiser is there to determine the overall market value of your home. The average cost of an appraisal is $300 to $450 dollars.
Hiring an agent to sell your house is still the most popular way to unload the property. However, it may not be the smartest. The standard realtor commission is 6 percent of your home’s selling price. Why 6 percent? The commission is typically split between the buyer agent and the seller agent – each agent receives 3 percent.
If you sell your house for $250,000, the realtor commission will be $15,000. Splits two ways, that works out to $7500 for each realtor. While it can be argued that an agent can leverage your negotiating powers at the table, you need to ask yourself if it is worth it to lose $15,000 of your net profit considering how much work and effort you have to put into selling your house.
Request Your Fair Cash Offer:
HOW TO SELL MY HOUSE FAST FOR CASH
Tacoma Cash Offer takes the burden out of selling your house the traditional way. If you want to avoid needless repairs, listing & showing costs, and closing costs, then follow our three-step process for a fast cash offer.
1. Contact a Local Cash Home Buyer
We are local investors that live in the Tacoma, Washington area. Simply call us, and we can schedule a quick visit to your property. Tell us the details of your property and let us assess your house.
2. Get a Fast Cash Offer
If we decide to buy your property, we’ll make a cash offer. Although we do not pay 100 percent of the market value of your home or your asking price, we will make you a fair offer. Plus, you receive cash for your home without all the hassle.
3. Schedule Your Closing Date
If you accept our offer, then we schedule a closing date. You can have cash in your hands in as little as seven days after closing. Plus, we pay all the closing costs! Selling your house for cash has never been easier.
OUR COMPANY PURCHASES PROPERTY AS-IS…REGARDLESS OF YOUR SITUATION
If you are looking to sell your house fast, going through a realtor may not be your best option. When you work with local house buyers, you can sell your house regardless of your current situation. We buy houses for cash in all types of circumstances, such as:
|Inherited Property||Late Mortgage Payments|
|Selling As-Is||Selling Rental Property|
SELL MY HOUSE FAST IN TACOMA, WASHINGTON
If you need to sell your house fast, then contact Tacoma Cash Offer today. We pay 100 percent cash, close in as little as seven days, and help you avoid unnecessary fees. Call us at (253) 300-2897 to schedule a quick walkthrough with a local cash home buyer. Our company buys houses as-is in the following areas:
|Bonney Lake||Federal Way|