Having a hard time understanding the costs of selling your home?
When selling your house, maximizing your profit is key. You don’t want to see your potential earnings disappear into repairs, upgrades, staging, closing costs, and agent commissions.
Let’s break down the costs of selling your home the traditional way:
- Agent Commission: Expect to pay 5% to 6% of your home’s sale price to real estate agents, which could be $12,000 on a $200,000 home.
- Closing Costs: Typically split between the buyer and seller, these could amount to about 3% of the home’s sale price, around $6,000 on a $200,000 home.
- Repairs: Before listing your home, make necessary repairs to avoid lengthening the selling process, which typically takes 90 days for traditional sales.
- Upgrades: Today’s buyers expect up-to-date home. Selling a house that’s out-of-date could increase selling time and reduce your selling price.
- Waiting: Every house that is listed on the market has an average of 30 days for it to sell. Add another 30+ days of closing which includes inspection, bank appraisals, buyer’s lender approval, and negotiating.
So for a $200,000 home the total costs come to $18,000 in commissions and closing costs alone.
This does NOT include repairs which can range from a thousand dollars to several thousands of $$$$.
And it doesn’t include the waiting for the sale part either! Which means you have to continue to pay your mortgage, utilities, insurance and maintenance.
All of these expenses could easily add up to $10,000 or more. Crazy!!
Alternatively, you could sell to a professional home buyer like us here at Liberty Road Homes. We buy homes as-is for cash, cover closing costs, no realtor fees, no inspections, and can close in as little as two weeks.
To learn more, please call us at (816) 290-7004 to schedule an in-person appointment. We’re local to Kansas City and can make it to an appointment in matter of hours or the very next day.
About Liberty Road Homes
Thank you for visiting our blog. We’re proud Kansas City residents dedicated to purchasing off-market properties for cash without involving commissions. Unlike some ‘flippers’ or ‘investors’ looking to pay pennies on the dollar, we approach buying your home differently than everyone else…and we do that by LISTENING TO YOU.
We want to know, not just why you are selling, but what your goals are and how selling the house will help you reach them. We want to approach buying your home the same way we would as a friend or a family member. Our goal is to help create a scenario that is a win-win for everyone involved and everyone to end up better off than when they started.
This is what separates Liberty Road Homes from everyone else.
