Know What Costs You Face When Selling a House

Fees, taxes, and other expenses often come as a big surprise to sellers at the last minute. Know what you will be required to pay at closing so you can plan accordingly.

House Selling – Ohio Real Estate Buyers: You can sell your own house, there’s no doubt about that. There are many resources that will help you to do so. What you might not realize, though, is that it will cost money to sell your house. Depending on the circumstances, it could even cost you a great of money out of pocket when the contract is closed. Costs need to be paid for before the property can be transferred to the new owner and papers filed with the county clerk.

The costs involved with the selling of the house may be obvious. You’ll need money for repairs and replacement of items that will be unattractive to buyers. If you have not kept up with routine maintenance tasks you could just have quite a bit of expense and time that will be wrapped up in the preparation of the house before you put it on the market. Then there will be the costs associated with upgrading the house to make it look fresh and ready for showing to potential buyers. It might need a paint job on the exterior, fresh paint inside, new faucets in kitchen and baths, new or cleaned window coverings, flooring, and attractive landscaping. All of this takes not only time, but of course, money.

The marketing of the house will cost you upfront if you choose to use a website that has listings of homes for sale by owners. This is the best way to get your home seen by the most people. A commission won’t be necessary if you sell the house yourself, but plan to spend some money on the marketing whichever way you decide to advertise it.

If a buyer’s agent finds your home for their client, you might be asked to pay that agent about 2% for bringing the buyer to you. Closing costs will be required on the day you close the deal. They include such items as attorney’s fees, appraisal or home inspection fees, and excise taxes if applicable. If any property taxes or homeowner association fees are in arrears, you may be required to pay them before the deal can close.

Find out what each of these expenses will be in your situation. If you believe it will be too much for your budget to handle and there isn’t enough equity in the house to warrant a profit, call a real estate investor for an offer on your home. They charge no fees and no repairs are necessary.

Greg Greenwald LLC is a company that specializes in buying and selling houses throughout the Dayton, Ohio area including Troy, Piqua, Tipp City, West Milton, Vandalia, Huber Heights, Englewood, Brookville, Clayton, Riverside, Oakwood, Kettering, Belmont, Centerville, Miamisburg, Fairborn, Greenville, Beavercreek, Bellbrook and more. If you have a home to sell in Dayton Ohio we can help!

Filed under: House Selling

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