Costs you are likely to incur when selling a house

Selling a house without a realtor can be exciting. You may pocket a lot of money. However, the cost of selling a home will eat into your profits. The money you spend on selling a house will depend on how you go about it. Here are some expenses you are likely to pay when selling a house.

Closing costs

Homebuyers will pay closing costs between 2% and 5% of the sales price of the house. However, home sellers can pay a closing fee as well. You need to pay a fee for any money going into an escrow and the fee is usually split between the seller and the buyer. Apart from the escrow fee, you may pay a pro-rated amount of your house taxes.

Most mortgage loans require the seller to pay a closing fee for the buyer. Sometimes when you sell your home without a realtor you may not agree to this so you may pick a portion of closing costs for the home buyer to be able to afford your home.

Staging costs

You will need to spend a substantial amount of money to hire a staging company to put furniture inside the house. Staging a house helps to sell a house faster and it makes the house appear larger.

Interior painting

You will need to paint the house with a neutral color to add to the appeal of the house. Unique colors and dirty walls are a turn-off. You will need freshly painted walls to give a good impression that you have been taking good care of the house.

Transfer tax

Not all counties and cities will charge a fee to transfer the home taxes into the new homeowner. In case you are selling a house without a realtor in a city that charges transfer tax then you should expect to pay a percentage of the sales price as the transfer tax.