Want to sell your home? Looking forward to having a little more money in your pocket? But did you know that selling a house also means spending money? In this article, we list the fees to be paid to an agent and those to be paid to an investor.
It’s true: It’s not systematic, but most of the time, selling a house means spending money. We want to share this information with you because it may help you decide whether to hire an agent or sell your home directly to a real estate investor.
Fees payable to a real estate agent
The agent is a representative who will try to find a buyer for your home. To do this, he’ll advertise your home for sale and use a variety of techniques to promote it.
You will have to pay several fees to your agent. We’re talking about commissions to be paid if your home is sold. This is the largest amount to be paid when selling a home (approximately 6% of the selling price, or $6,000 for a home selling for $100,000). We also talk about promotional costs and other expenses deemed necessary to achieve sales. You may also be charged an additional fee simply to advertise your property, to compensate your agent’s firm, to print a sign to be planted on your property, or to pay closing costs. This list could go on and on. Ask your agent to find out .
Fees payable to a real estate investor
This surprises most sellers, but most real estate investors charge absolutely nothing. In fact, investors usually bear the costs associated with the sale themselves. Also, there are no commissions to pay, as there are no agents to hire and no advertising to do. Depending on the investor you work with, you may be responsible for closing costs. So don’t forget to ask your investor who will be responsible for paying these costs.
The “fresh” you didn’t think of
There’s one last “fee” you may not have thought of: if you hire an agent, he or she will almost certainly ask you to perform some renovations before advertising. What’s more, you’ll have to pay the accounts until the day your agent finds a serious buyer and the contract is signed. Although these fees are not collected by your agent himself, you will still have to pay them because you are doing business with him. However, if you sell your home directly to an investor, you can close quickly and avoid all these costs.
So which sales method is best suited to your needs? It all depends on how much you’re willing to pay and how quickly you want to sell.
If you’d like to discuss this in more detail or make sure we don’t charge any fees when we buy a home, contact us and we’ll be happy to guide you.
