HIDDEN COSTS OF SELLING A HOME

 

When sellers put their home on the market, they are often only thinking about how they can get the best price for their home. However, what many sellers fail to consider is all of the additional costs they may incur when selling their house; costs that can make a substantial impact on their wallet. Make sure these hidden costs don’t catch you by surprise.

Staging

When potential buyers walk into your home, you want to make the best first impression possible. Staging helps to create a universally appealing atmosphere to help draw in buyers and motivate them to make an offer. The more that buyers like the way your home looks, the more that they will be willing to pay for it, making staging a very worthwhile investment. The national average for home-staging is $1,208, a substantial cost that sellers often overlook when putting their home on the market

Repairs

Very similar to home staging, home repairs is a low cost method to ensure a higher asking price for your home. While specific repairs vary from case to case, most homes require services such as interior painting, carpet cleaning, minor roof repair, and many other general maintenance tasks in order to fetch as much money as possible for the property

Real Estate Commissions

Real estate commissions comprise the majority of the hidden costs of selling a home with the national average commission being 6%. This can be especially expensive for high-value homes in hot neighborhoods/cities. The national average for realtor commissions is $11,790 (based on a median home value of $196,500). The typical commission is 6 percent, according to Zillow. While most sellers are aware of these closing costs, many fail to consider just how expensive they end up being

Landscaping

The first factor that comes into play when attracting buyers to your home is curb appeal. Landscaping is an easy way to substantially enhance your curb appeal and increase your property’s asking price. In fact, according to research from Virginia Tech, staging can help to increase your home’s value by 12%. While landscaping clearly has numerous benefits, it is often left unconsidered when sellers are calculating the cost of selling their home.

Post-Sale Lawsuits

After a seller has gone through the longhand taxing process of selling their home, the last thing that they want is more unforeseen expenses. The largest and most costly expense that they can incur is a home sale lawsuit after the sale. Be it the seller’s failure to disclose a crucial issue with their home or simply the buyer seeing dollar signs, a post sale lawsuit can end up being incredibly expensive and time consuming. Sellers Shield offers Home Sale Legal Protection™ to provide sellers with peace of mind knowing that they are protected after the sale of their home. In the event of a lawsuit, the sellers that purchase Home Sale Legal Protection™ can rest easy knowing that Sellers Shield will provide them up to $20,000 of legal protection in order for them to fight any and all claims. Sellers Shield Smart Sellers Tools also help to avoid post-sale lawsuits by offering a sellers disclosure wizard and interactive platform that helps the seller accurately and easily complete the sellers disclosure form.