We Buy Homes In Northern Virginia: 5 Hidden Costs Of Selling A House You Can Avoid By Selling To A Cash Home Buyer
If you are like most first-time homeowners in Northern Virginia, you will be faced with the decision of selling your home at some point. Whether it’s because you want to upgrade to a bigger home, downsize, move to a new location, etc., selling your house often presents a new chapter in your life.
As exciting as it can be, however, it is important to note that selling a home isn’t as straightforward as you might think. Most homeowners often assume that selling a house is as easy as accepting an offer from a potential buyer and getting cash in your pocket. But that isn’t the case as there is a lot that goes into the process of selling a house the traditional way.
While you might be aware of the fees and commissions associated with hiring an agent, there are several other expenses that you might not have known about. Understanding these hidden costs will help you plan for them in advance and help avoid frustrations and inconveniences later on in the process.
But there is a way you can avoid all these costs entirely and get to keep all the money from the sale. This is by selling to a professional cash house buying company in Northern Virginia such as Home Sale Solutions. We buy homes in Northern Virginia ‘as-is’ and we are ready to give you a fair offer for your house.
This article takes a look at some of the hidden costs of selling a house that you should know about if you are planning to sell through a realtor.
– Repair Costs
To ensure that your house is in a market-ready condition, you will need to do all the required repairs before putting it on the market. The best way to do this is to hire a professional house inspector who will help you identify all the problematic issues with your house that can arise during the buyer’s inspection. Besides the house inspector’s fees that you will need to pay, some of these repairs such as structural issues, plumbing issues, and foundation issues can run into the thousands of dollars. It goes without saying that this can create a serious dent in your bank account.
Keep in mind that you are legally required to inform the buyer of all identified issues with the house. If you aren’t in a position to do these repairs, the cost will be deducted from the sale price.
However, as earlier mentioned, here at Home Sale Solutions, we buy homes in Northern Virginia ‘as-is’, meaning that we will buy your house in whichever condition it is in. So, no need for repairs or unnecessary renovations.
– Agent‘s Fees and Commissions
Did you know that the total agent fees and commissions can be as high as 6% of the sale price? Depending on how much your house is worth, this can translate to thousands of dollars. This amount is typically split between your agent and the buyer’s agent. Yes, the buyer isn’t required to pay their agent.
– Holdover Costs
This refers to those expenses you will incur while your old home sits on the market. You will still need to make mortgage payments for the house, pay utility bills, homeowner’s insurance, and in some cases, real estate taxes. All these costs will add up to the total costs of selling the house.
However, you can avoid this financial burden by selling your house quickly to Home Sale Solution Northern Virginia.
– Professional Home Staging
One of the best ways to attract buyers and sell your Northern Virginia home quickly is to hire the services of a professional staging company. Staging your home presents it in the best light and it helps buyers envision what living in that house could be like.
Pundits say that a staged home is likely to sell much faster and at a higher price than a home that is not staged. While securing the services of a professional staging company can be pricey, depending on the size of your house and the amount of work done, the return is worthwhile. So, if you are in a rush to sell your house, you will need to seriously consider whether you need to work with a staging company.
Besides staging, you will also need to include professional and high-quality photos in the listing. You will most likely need to hire a professional photographer for the best results. A professional photographer will cost you a couple of hundreds of dollars.
– Closing Costs
While the seller and the buyer traditionally split the closing costs amount, you as the seller will often end up paying the bigger chunk. Closing costs typically consist of lots of small fees and taxes including attorney fees, homeowners association fees, escrow fees, courier fees, brokerage fees, transfer taxes, title insurance, and so on.
As you can see there is a lot more that goes into the process of selling a house than meets the eye. All these costs can take up a sizable chunk of your earnings from the sale of the house leaving you feeling disappointed, especially if you weren’t aware of or expecting them. But Why not avoid all these costs by selling to Home Sale Solutions Northern Virginia. We buy homes in Northern Virginia, and we’d love to give you a fair all-cash offer for your house.