When you decide to put your house on the market, there are a lot of things you have to consider. One is how much money you’ll lose when trying to sell your home. If someone doesn’t buy it immediately, you may be stuck paying two house payments. This can be a stretch for many household budgets.
There are other factors to consider when determining the asking price for your house. You’ll lose money in other ways. If you’re not aware of how much money goes into preparing a house for market, you may sink more into the property than it is worth. This is especially true if you’re in an upside down mortgage in the first place.
Here are six things homeowners lose money on when trying to sell a home:
- Realtor Costs. You’ll be stuck paying a commission to the real estate agent who sells your home. Depending on how much your property’s worth, this can amount to a significant chunk of change. How would you spend this money if you didn’t have to pay an agent? Would you fix up your new property or buy new furniture? It’s something to think about.
- Closing Fees. Part of selling a home traditionally is paying closing fees. Add those to the realtor costs and you’re losing a large sum of money. Closing costs are what it take to seal the deal and completely unavoidable if you have a realtor selling your home.
- Necessary Home Repairs. If you have an older home that needs a lot of work, you’re going to pay to get your home ready for sale. It takes additional time to complete the repairs, too. You may already be ready to move into a new home. Overseeing repairs is difficult when you live in another town or state.
- Future Mortgage Payments. If your house doesn’t sell immediately, you may be forced to pay two mortgage payments. This is a stretch for most households.
- Homeowner’s Insurance. Again, you’ll be forced to pay insurance for two homes. That’s even more money that comes out of your bank account. Add that to the other expenses mentioned above and you’ll be racking up costs repeatedly.
- Property Taxes. It’s yet another expense that you’ll incur on two homes if you don’t get your listed house sold quickly. Depending on the neighborhood and the value of your home, you could be out thousands of dollars quickly. That money could be better spent on your new space.
Don’t lose a dime on realtor costs, closing fees, repairs, homeowner’s insurance, and property taxes. Contact Fast Sale Florida for a no obligation, free price quote. Once your home is inspected, you’ll get a cash offer on the spot. There’s no need to shell out tons of money on a home that no longer serves you and your family.
Sell it fast and walk away with cash. You won’t have the hassle that comes with listing a home with a realtor. It doesn’t have to be repaired or staged. You won’t have to worry about how you’re going to stretch your budget because you won’t be forced to.
