Selling your property or home can be daunting, especially when it’s your first time and you don’t know what to expect. Many factors and legalities go into selling property, and you may be unprepared for some surprise costs. Those surprise costs are why it’s recommended for first-time sellers to invest in a realtor or real estate agent.
Let’s get ahead of the game by looking at some of these unexpected costs.
Pre-Inspections Should be Expected
It’s a no-brainer that appearance is a huge selling point when it comes to selling your home or property. Before you even start the extra maintenance, cleaning, and repairs, pre-inspections will be made. If the inspector thinks your house needs more physical appeal to add to the value, a good investment would be to buy glass framed wall art online. You already have to pay for the pre-inspections; you can get your money’s worth by increasing the property’s worth. Glass framed wall art gives a sophisticated air to any home and could potentially increase its value.
You Will Most Likely Have to Shell Out for Cleaning and Repairs
Extra maintenance is one thing, such as paying to buy glass framed wall art online. However, things could get costly if your property needs additional cleaning and repairs. A good inspector will be able to tell you precisely what you need. A good action plan is to list all the cleaning and repairs they suggest. A list will help you figure out costs and plan a budget.
One of the higher prices of selling a home is the utilities. If you move out before putting the property on the market, you will be paying big utility bills for a while. You’ll need to keep the lights and heat on to display them properly for potential buyers. No one wants to see or purchase a cold and dark house.
Yes, even when the deal is made, some costs must be handled to close. Some of these fees may include the following:
- Fees from the escrow company
- The mortgage and home appraisal
- Recording and transferring of the property
- Homeowner’s insurance
- Title insurance
These closing costs could add up to 2% to 5% of the selling price.
Depending on where you live, your state or city may require you to pay transfer taxes as a small part of the sale price. Additionally, suppose your state collects property taxes, and you have yet to pay them that year. In that case, you will likely be charged a share of what the buyer will eventually owe.
You need moving trucks to move; believe it or not, moving companies can get pricey. Some companies will even pack your belongings in boxes for you and unload them at the new location. However, expect to pay more for this treatment.
The ultimate takeaway here is that moving is expensive. This fact shouldn’t be considered a shock, but you should have a plan of action and budget to handle these expenses. Another thing to remember is that we are in a new year, and you should keep up to date on how these expenses change. The housing market constantly changes with the economy.
Share this tip with your friends!