Search thousands of topics on CostHelper

BROWSE ALL TOPICS >> babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business sports 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 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 Post    
CostHelper News


10 Quick and Inexpensive Home Makeover Projects To Do While At Home
You may not be able to host the large family gathering for the holidays, but there are still many ways to pick up items curbside to spruce up your indoor space for your everyday enjoyment and to bring a more festive spirit. || Posted December 30 2020


7 Lesser-Known Discounts for the 50+ Crowd
As they age, members of the Baby Boomer generation don't like to admit that they're senior citizens, but they love getting discounts. It's kind of a quandary, because some of the best deals available are reduced prices for older folks. || Posted October 21 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
2 Stents RCA w/ CathLab
Paid: 12000.00
ER with Heart Attack symptoms. Next AM had cath lab. 100% blockage. 2 stents. Was released 8 hours later. Less than 48 hours in hospital. Thought is was expensive, but after seeing what other have paid I guess not... [more]
-
Heart Stent Cost
Happy with ATT gigabit fiber
Paid: 69.99
I used to use Comcast but got frustrated with the unreliability of their speed — by day it could slow down but it’d be very fast late at night... [more]
-Now1000
Internet Access Cost
Used AAA
Paid: 163.42
I was going to try to replace the battery myself but the old battery had corroded so much that I wasn’t able to remove the terminals with my pretty crummy tools at home... [more]
-Honda21
Car Battery Cost
8 year old Gernan Shepherd Neuter
Paid: 200.00
good job,,a little more than expected but it is what it it,,He's my baby!... [more]
-snail
Dog Spay or Neuter Cost
husband and I had eye exams and got each got glasses
Paid: 1488.59
That was $679.47 for the two of us initially, which also included comprehensive exams. We got VSP individual insurance which premiums for the two of us for this 12 month period will equal $610.56... [more]
-D & T
Eye Exam Cost
Sears Air Duct & Dryer Vent Cleaning - Rip Off
Paid: 1500.00
I've lived in my house for over 10 years and decided to have the air ducts and dryer vent cleaned... [more]
-Ripped Off Customer
Duct Cleaning Cost