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
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


How Much Do Professionally Installed Holiday Lights for Your Home Cost?
A family from Australia are new Guinness World Record Holders after stringing roughly 31 miles of holiday lights around their home -- more than half a million individual, flickering lights. There are 502,165 lights to be precise. || Posted December 1 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
Why calligraphy costs so much...
Paid: 500.00
As a veteran calligrapher, my rates fall in this range. The rates may seem outside the budget but the skills and time required take many years to learn, not something that can be learned over a weekend or a YouTube video... [more]
-Cora Taylor, Calligraphy Studio
Calligraphy Cost
Shingles Vaccination
Paid: 25.00
Got my vaccination at Walgreens. Have WellCare Health Insurance. Am 76 years old. My copay is $25.00... [more]
-
Shingles Vaccine Cost
Colposcopy with biopsy
Paid: 500.00
No clue that United Health would view this as surgery. Thought it was preventative. Total bill was 1500. Had to pay deductible. This was essentially a very expensive pap... [more]
-AvaMonica
Colposcopy Cost
Service and warranty are worth the price
Paid: 848.00
I am extremely nearsighted (-11.25) and hard to fit for progressive multi-focal lenses because frame size and shape are limited; I need a frame that can handle thick lenses... [more]
-Julie C
Eyeglasses Cost
Spark plugs and ignition coils replaced 8 cylinder
Paid: 200.00
P0300 code cylinder #2, ordered ignition coils online and purchased spark plugs at O’Reilly‘s. Took about an hour and a half to replace all eight... [more]
-Busted knuckle
Ignition Coil Replacement Cost
Apadravya
Paid: 95.00
$95 + tipFreehand piercing... [more]
-E M
Body Piercings Cost