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Home Selling Expenses That Take a Bite Out of Your Profit

Thursday, February 10, 2022   /   by Steve Ticknor

Home Selling Expenses That Take a Bite Out of Your Profit

You want to sell your home. So you hire a Lake Havasu REALTOR® who knows the market well. Then, you sit back and wait to reap a massive profit from your home sale. That is all there is to selling a home today, right? Wrong. Before you start counting your money, remember that you are responsible for a few home selling expenses. And they will definitely take a bite out of your profit.

Before you start counting your money, remember that you are responsible for a few home selling expenses that take a bite out of your profit.

Home Selling Expenses

Repair Costs

You lead a busy life. Sometimes, it is easy to be lax with the care of your home. However, when it comes time to sell, you need your property to look its best to fetch top dollar. These home selling expenses are not the time to pinch your pennies. DIY may work for smaller tasks. But if your Havasu home needs larger repairs, call in a professional. A simple home inspection performed on the buyer's behalf during escrow easily reveals any shoddy workmanship. It could also mean the buyer coming back and asking for a discount or demanding that these "repairs" get properly done before closing. That costs you even more money.

With larger repairs, you may want to consider lowering your list price to accommodate the cost of the repair/replacement. For things like a roof repair, for example, you will never fully recoup the cost of its replacement. But this is an important issue that needs to be addressed right away. Lowering your list price may make it worth the buyer's while to go ahead with the purchase and take care of it themselves later. When it comes to larger repairs, get a few quotes from various local vendors. Then, make these available to the buyer if needed.

Always Use a Professional Photographer

More and more people begin their home search online. So, photographs provide the first opportunity to view your Havasu home. Dark, grainy photos do not make the best impression. Another one of the home selling expenses that are oh so important is hiring a professional photographer. They know the best angles, lighting, and editing to showcase your property in its best light. Some real estate agents include a photographer (and sometimes a videographer) with their services. Ask your agent if they do. If not, consider hiring one yourself.

Landscape Facelift

Photographs entice a buyer to go see your property. Your curb appeal brings them to the front door. Along with any repairs and a professional photographer, another one of the home selling expenses necessary to nab top dollar is upping your curb appeal game. Fortunately, most (if not all) of this can be handled by you personally. For those landscape chores you need help with, dig into your piggy bank and hire a pro.

Closing Costs

Finally, sellers pay closing costs, too. According to NerdWallet, the seller should expect to pay anywhere between 6% and 10% of the sale price in closing costs. In addition to the agent fees (typically 6% of the sale price), you must pay transfer taxes, HOA fees, any outstanding property taxes, notary fees, title insurance, and any concessions to the buyer. Also, the outstanding balance of your mortgage and anything due on a second mortgage or HELOC account gets paid from the proceeds of the sale as well. After all of this is taken care of, you receive a final check for the amount left over.

When you are ready to put your Havasu home on the market, contact us.

Sunstone Real Estate Group at Coldwell Banker Realty, Lake Havasu City, AZ


Originally posted on my Lake Havasu real estate blog here: https://www.sunstonerp.com/home-selling-expenses/.

  lake havasu real estate, home selling tips, closing costs

Coldwell Banker Realty
Steve Ticknor And Bob Ulery
2148 McCulloch Blvd N #105
Lake Havasu City, 86403
928-302-6177

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IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.
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