Selling a house comes with costs, and you’ll need to be prepared for those when you put your property on the market. Today, we’re discussing the costs of selling a home, and we’re looking at the specific expenses you’ll incur as a home seller. There are typically five things that you need to pay for, which will come out of the proceeds of your sale at closing.
Sell My House: Brokerage Fee
You will pay a brokerage fee, which is typically for both the selling and buying side, so you’ll pay your seller’s agent and the agent who brought a buyer to your home.
Sell My Home: Transfer Taxes
Transfer taxes are presently $8.60 per $1,000 of your home’s sales price. You’ll need to figure out what that adds up to once you have accepted an offer on your property.
Sell My House: Title Insurance
Title insurance is another responsibility at closing, and you can expect to pay somewhere between $1,000 and $3,000, based on how much you sell your home for.
Sell My Home: Deed Transfer
Sellers are required to pay to transfer the title of the property, which will cost you around $50 or $60.
Sell My House: Pest Inspection
One of the last costs of selling a house is the pest inspection, which you’ll also need to pay for. This shouldn’t cost you much more than $50, however.
The best thing to do when talking to a real estate agent who will list your property is to ask that agent to fill out a net sheet for you. This will outline what you think you’ll sell your home for and then what you will net after all of these expenses. When you get an offer, have your agent do another net sheet based on the offer amount and expenses. That will tell you what you’re really making.
If you’d like to hear more Berrien County real estate tips, please contact the Heaps Team at Realty Executives. We’d be happy to act as your real estate broker in St. Joseph, MI.