When selling your house, there will be multiple expenses that need to be covered. These include costs you will pay before closing, costs related to the sale and costs you would pay whether you sell or not.
Before closing, you will need to pay for making any necessary repairs or improvements to the house. You will also need to pay for packing supplies and the cost of hiring professional movers if you choose to do so.
At closing, you will be responsible for a variety of fees, including the title insurance policy, a home warranty, a survey of the property (if you don’t already have one) and various closing costs. It’s important to note that in a real estate sale almost everything is negotiable. The seller may pay these expenses but it is also possible the buyer may agree to pay them. The seller is also responsible for paying any outstanding liens or mortgages on the property.
If a seller chooses to use a real estate brokerage, he/she will also need to pay a commission. It is important to note the decision of whether or not to use a real estate brokerage, as well as the amount a broker is paid, is typically determined before the home is listed for sale. It is an agreement between the broker and the seller. This fee is always negotiable.
Finally, there are expenses you would pay whether you sell your home or not. These include prorated property taxes and insurance. If your home is in an HOA, you will also need to pay any outstanding fees owed to the association.
The best way to get an accurate estimate of all the expenses you’ll need to pay when selling your house is to speak with a real estate agent. They will be able to give you a good idea of what to expect. Selling a house is a complex process with many moving parts. It’s important to be prepared for all the costs involved.