For most sellers, one of the goals of selling their home is to sell for a profit.
But while selling your home can definitely put money in your pocket, a home sale is not all profit. There are also costs associated with selling a home, so if you are thinking of putting your home on the market, it is important to understand what kinds of costs you may incur during the process.
So what, exactly, are those costs?
A recent video from realtor.com outlined some of the costs associated with selling a home, including:
When you sell your home, you will generally pay a percentage of the home’s sale price to your listing agent, which covers all of the time they spent marketing your home. Your listing agent will then split the fee with your buyer’s brokerage.
While buyers generally pay more in closing costs, as a seller, you should plan to spend an additional 2 percent of your sale price at closing to cover fixed costs like escrow expenses, transfer taxes, and notary fees.
If you owe any outstanding property taxes on the home, you will also need to pay those taxes at closing.
If you are thinking about selling your home this year, let's connect. We can help you understand the potential costs based on your specific situation and the current market, AND we can help you maximize your return-on-investment from the sale of your home!