How Much Does it Cost to Sell a House?

Are you thinking of selling your home? With the housing market we’ve witnessed over the last couple of years, it makes sense to at least consider it. But before you put your house on the market, make sure to consider the expense. How much does it cost to sell a house? Here are some of the costs you may have if you sell your home.

Home Renovations 

Before putting your house on the market, it’s a good idea to make some small repairs or renovations. This is the first cost to sell a house. These small upgrades can make a big difference in selling your home quickly and for the best price. The type and cost of repairs will vary depending on the needs of your house. 

For example, adding new drawer handles can make a kitchen feel updated. Or, a new coat of white paint gives a room a fresh look. Additionally, now’s the time to repair those small things you’ve been putting off. If you need help deciding which repairs and renovations are worth the money, contact Team French to help!

Pre-listing Inspection 

A pre-listing inspection is an optional service that gives potential homebuyers confidence to move forward. It lets them know that your house is in great condition and there will be no surprises during the inspection or after closing. Learn more about why we love this service and how it can help you sell your house.

Real Estate Commissions

When buying or selling a home, a real estate agent is able to make the process less stressful and less complicated from start to finish. Real estate agents are paid after the sale of the house, usually a commission of 6% that is split between the buyer’s and seller’s agents. This commission is typically paid by the seller though you may be able to negotiate this fee.

Seller Concessions

Another cost to sell a house is the seller concessions. During sale negotiations, the seller may agree to pay for certain expenses such as closing costs, inspection costs, or repairs. Seller concessions are not present in every home sale so it’s possible you won’t have this expense.

Closing Costs

This is the expense charged by all the parties involved in helping you close on your house. Closing costs may include title fees, escrow closing fees, lender fees, first month’s private mortgage insurance (PMI), or prorated property tax. Your closing costs are paid at the final contract closing.

Capital Gains Taxes

If you make a profit from selling your home, then you may have to pay taxes on that revenue, which is called a capital gains tax. There are some exemptions and the percentage can vary. At Team French, we can connect you with a trusted real estate accountant or tax advisor to walk you through this process but it is always advisable that you speak to your tax professional before selling so you have a better understanding of the tax ramifications. 

You may be selling your house due to a new job, a new desire, or as an investment. Regardless, there are some costs associated with doing so. We’d love to help you think through the process and make it as smooth as possible along the way. Let Team French help you sell your Gold Country house. Contact us today to get started! 

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