Before you move
Before you estimate the costs of selling your old home, you should first consider finding a new one for your family. Or at least a temporary home until you find a buyer and sell it. Then comes the packing. the best way to organize your stuff is to make a checklist. That way you will have an overview of your belongings which will help you to easily sort them out. Also, this is a great way to get rid of things that have been taking your closet space for years. You can sell them on the internet or organize a yard sale. Donate them to a charity organization or recycle them. After packing, you have to find reliable movers in order to relocate your family and your belongings. In case you have some massive items like a piano you can get in touch with piano movers of Texas that will safely relocate your piano or other valuable items. When choosing a reliable moving company you have to check if the company offers insurance. Which is crucial when it comes to your belongings. That way you will get your money back if your belongings get damaged or stolen.
Costs of selling your old home
The costs of selling your home can depend on various factors.- Home preparations which can bring up the costs of selling your old home
- Closing costs for sellers as well as their concessions
- Real estate fees such as loan payoff, taxes, and penalties
Closing costs for sellers as well as their concessions
Most of the sellers make some kind of trade-off with the buyer to speed up the sale of their home. The most common concessions for the sellers are post-inspection repairs, home warranty for the buyer, and credits towards closing costs. It is really rare that an inspection report comes back perfectly! In that case, the buyers request from the sellers to fix up the issues from the inspection report. In many cases, the sellers lower the price so the buyer can do the repairs by themselves. Sometimes the repairs are in fact completed as a part of the deal. To ensure the trust of their buyers, sellers sometimes cover the cost of a home warranty. For a one year home warranty, you will have to spend between $300-$500, depending on the coverage. Also, another thing that buyers often require is that the seller's cover ALL or at least a part of the buyer's closing costs. That way the buyer brings less cash for the closing. And for the seller, well, this cost comes out of the profit they make on the home on closing. When it comes to the closing costs of the seller, they range from 8% to 10% of the home's sale price. Which includes the agent's commission round 6% of the sale price, and the seller's fees which range between 2% to 4%. You should also keep in mind, that the costs vary depending on the value of the home and the tax rate where you live. They also include a transfer tax also known as a government transfer tax or title fee. Prorated property taxes where the seller is responsible for the property taxes on your home up until the day of closing. Also HOA fees as well as the attorney fees.