How to Avoid the Hidden Costs of Selling a House
Selling a house is expensive business. According to a report released by Zillow Research, sellers now spend an average of $20,851 nationally to sell their homes. These costs are notably higher in cities with high home prices, mostly due to the high cost of agent commissions. The city with the highest overall cost was San Jose, CA with a total of $83,770 in overall costs and $74,646 going to agent commissions alone. Seattle comes in fourth, with a total of $45,809 for overall costs with $29,490 going to agent commissions.
Image Credit: Zillow Economic Research
The major costs of selling real estate fall into three categories; agent commissions, the costs of preparing a house for sale, and taxes. Nationally, the average total cost for listing preparation is $6,750 and involves tasks like painting the exterior and interior of the house, professional staging, moving costs, yard and landscaping, and deep cleaning.
How to Avoid the Hidden Costs of Selling
People often sell their properties with a realtor because they think they can get the most money by listing it publicly for sale. However, there are a lot of costs that sellers might not take into consideration, and you might not come out ahead after all these add up.
Selling your property with a realtor isn’t the only solution. If you’re not prepared to spend up to $30,000 on commissions and more to fix up the house, you can sell as-is. There are many companies out there willing to give you a fair cash offer on your property.
Read on to see the benefits and find out if selling your property to a local investment company is the right choice for you.
No Commissions or Fees
One of the biggest costs in selling your house is the agent commission. Commissions can be up to 6% of the sales price, a cost that can amount to tens of thousands of dollars for sellers, especially in areas with higher cost homes like Seattle. You’ll also be responsible for closing costs, which can be another 2-5%. When selling your property to an investor, you can avoid commissions and potentially some of the closing costs. We also don’t charge any hidden “service” fees.
Preparing a house for listing the traditional way usually means you’ll have to spend money to get your house in tip-top shape. That could mean replacing carpet and flooring, giving it a fresh coat of paint, or fixing bigger problems like cracked foundations and replacing old appliances. We expect to buy your property as-is, so you won’t have to waste your time and money on repairs.
Most buyers purchase real estate with a loan and must go through the lending process. Lenders usually have strict borrower requirements and can sometimes require official inspections, appraisals and surveys. This can result in the seller having to make additional repairs and/or lower the price of the property. With us, you won’t have to worry about the uncertainty of the lending process, appraisals or further repairs. We pride ourselves on our ability to make a straightforward and transparent cash offer.
With an all-cash offer and no inspections, repairs or other hoops to jump through, you can close much faster than a traditional sale. We can close as quickly as 7 days, or you can take the time you need to get everything in order. We’ll give you a flexible offer tailored to your specific needs.
When you list your property, you’ll have to de-clutter, de-personalize and deal with the parade of strangers coming into your home at a moment’s notice. The house needs to be “show-ready” for weeks on end while you attract a buyer.
This also might be a consideration for a landlord wanting to sell an investment property without constantly disturbing their tenants. When you need to sell quickly and privately, selling off-market might be your solution.
We Haul Unwanted Junk
If the reason you’re selling a house is because of clutter and junk that you can’t deal with, we’ll help you with that too. When you sell your house to us, we’ll take care of any unwanted items left with the property.
To find out if selling to us is right for you, request an offer. It’s easy and there’s no obligation, so why wait?
Beachworks LLC local, family-owned company in north Seattle committed to improving the value of our community. For those who need to sell their homes quickly and privately, we we provide an all cash offer and close on your timeline.