Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Personal Finance  > Real Estate > Selling a Home

Selling a Home Cost


How Much Does Selling a Home Cost?

 
low costLow: 4-8% of house valuehigh costHigh: 10% of house value
post E-mail post Post  
  Typical costs:
  • Combined actual selling costs can be as much as 10 percent of the selling price, or $20,000 on a $200,000 home if you use a Realtor or real estate agent; and 4 to 8 percent or $8,000-$16,000 if you sell it yourself to save the agent's commission, according to EzineArticles.com[1] . A lot depends on geographic location and which fees are the seller's responsibility in your area. Some costs are open to negotiation between buyer and seller, and between seller and agent.
  • An agent's sales commission averages 5-6 percent nationwide, or $10,000-$12,000 for a $200,000 home; transfer taxes, property taxes, legal fees and other closing costs run $4,000-$8,000; there may be a prepayment penalty on your existing mortgage; to avoid surprises later on, many buyers pay $150-$350 for a home inspection before putting their property on the market; making things look good can start around $300 for paint, hardware, living room carpet and a bit of landscaping, to $2,000-$4,000 or more to do extensive painting, flooring and/or landscaping, and to fix obvious problems; and renting high-end furniture and decorative touches to "stage" your house can run $500-$3,000 or more for a 90-day period, depending on the quality and quantity needed.
Related articles: Refinancing a Mortgage, Closing a Home, Homeowner's Insurance

What should be included:
  • Commissions are split between the listing broker, the listing agent who works for the broker, the selling broker and the buyer's agent who works for the selling broker. A full-service agent studies comparable sales in the area and factors such as a busy or quiet street, local schools and more to help set the asking price; advertises and markets the property extensively; and oversees all the paperwork, from conveying a buyer's offer and your possible counter-offer to final closing. Agents recommend mortgage companies, attorneys, inspectors, painters, carpenters, carpet cleaners and other services; often an experienced agent will have ongoing relationships with the best contractors in the area.
  • Whether a specific closing cost is paid by the buyer or seller varies by location, and can even differ between counties in the same state. For example, in certain areas buyers pay for title search and insurance, in other places it's paid by the sellers and in some regions the cost is split between the two. (Title search and insurance runs about $450-$600 but can be as low as $100 in one state and $900 in another.) Contact your state department of real estate for specifics.
Shopping for selling a home:
  • Get referrals to sales agents from The National Association of Realtors[2] .
  • SoldByOwner.com[3] explains why sellers should pay for their own home inspection; for referrals visit ASHI.org[4] .
  • There's a range of ways to save on real estate commissions. MSNBC.com gives an overview of the options: ForSaleByOwner.com[5] , has monthly rates ranging from $90-$900; HelpUSell.com[6] and Assist2Sell.com[7] offer a menu of specific services at set prices; and RealEstate.com[8] pays rebates of $100-$2,250 for using one of its brokers.
  • It's possible to negotiate a lower commission; HomeBuyerNews.com[9] gives an overview while BobBBruss.com argues that a lower-than-usual commission means fewer agents will show the property or show it last to their prospective buyers.
post E-mail post Post  
CostHelper News


10 Key Ways to Prepare for Extreme Snow
Forecasters are predicting a true nor'easter will hit the eastern and central states with rain, thunderstorms, ice, snow and high winds over the Thanksgiving weekend. It's crucial to plan ahead, before bad weather hits. || Posted November 26 2013


10 Most Popular Cosmetic Procedures Before the Holidays
With reunions and other get-togethers scheduled during the holiday season, most people want to look their best at this time of year. For some, that means filling in those wrinkles with a bit of botox, or having a nip and tuck down here and there. || Posted November 23 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments


 

Comment On Your Experience With Selling a Home
 
Subject:  *
Amount Spent:  *
Percent of Total: Type of Broker: 
Type of Property:   
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  ezinearticles.com/?What-Are-The-Real-Costs-Of-Selling-A-Home?&id=139629
  2.  www.realtor.com
  3.  www.soldbyowner.com/tips.html
  4.  www.ASHI.org/customers/
  5.  www.forsalebyowner.com
  6.  www.HelpUSell.com
  7.  www.assist2sell.com
  8.  www.realestate.com/
  9.  www.americanhomeguides.com
More Personal Finance Topics
Check Out All Costs for Personal Finance How Much Does Closing a Home Cost? How Much Does a Traffic Ticket Attorney Cost? How Much Do Funeral Flowers Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Lizard
Paid: 150.00
The beardie was adopted for $20.00 at a local repticon. Tank was over 30 inch long, cost less than $70-80 at Petsmart during Xmas sale. Everything else were bought online from Dr. Foster, Amazon and Chewy... [more]
-Gaga
Pet Lizard Cost
My Entertainment Company Went Above & Beyond The Call Of Duty
Paid: 2100.00
All I can say is WOW. When I hired Evan Nine Entertainment, I had no idea I was going to get so much extra for my money. His company handled The DJ/MC, Photography, Uplighting, and Wedding Officiant... [more]
-Linda Grayson
Wedding DJ Cost
TTE 93306
Paid: 1208.00
Went for echo at cardiologist's office. Hadn't met deductible and my BCBS estimate online was $408 done in doctor's office. Well, the cardiology office had been acquired by Mission Hospital so they charged their rate which was ~$1980... [more]
-C. V. Wynne, M.D.
Echocardiogram Cost
Broken drain line replacment
Paid: 7600.00
After Roto-Rooter inspected the drain line which could not get passed 35 feet from the cleanout, serviceman suggested for a new cleanout to be installed near the area where the camera could not pass, this at a cost of $1,450... [more]
-#IFEELTAKEN
Sewer Line Replacement Cost
Cost should be capped
Paid: 4550.00
In August of 2014, my husband need to be transported to the helicopter pad at the hospital and we received a bill for $4,550 and when we questioned why so much no one could provide a valid answer. The helicopter pad is less than ... [more]
-dkoz
Ambulance Cost
Cost of topo survey
Paid: 3800.00
Surveyor staked four corners and surveyed entire 4.95 acre lot at 2 ft contours in Issaquah, WA... [more]
-User in WA
Property Survey Cost