Before hastily signing with an agent to list your domicile in Florida, take a moment to appraise the numbers and explore alternative options. The costs associated with listing with an agent are manifold, and it may prove more advantageous to engage in a direct sale. Be fully informed of all possibilities prior to binding yourself to a listing agreement with an agent.
Here are just a few of the costs you might encounter when listing with an agent:
Commissions – 6%+ of the final sale price
The remuneration paid for the service of real estate agents is predominantly borne by the seller, and it usually amounts to a percentage of approximately 6% of the selling price. In addition to the commission, the agents may also impose several ancillary charges like administrative fees, agent fees, and notary fees.
Inspections – At least a few hundred dollars
As a customary practice, buyers would usually cover the expenses for the inspection as part of the closing costs. Nevertheless, as a ploy for negotiations, it has been noted that sellers have been gradually taking on the expenses themselves. Subsequently, once the inspection is concluded, the reparations that are required to be done are negotiated and settled between the buyer and the seller.
Appraisals – A few hundred dollars
In most instances, the onus of acquiring a home appraisal rests on the buyer. Should the buyer collaborate with a lender, the latter will need the property to be assessed prior to the deal’s finalization. That being said, the cost of appraisal may be subject to negotiation, and ultimately footed by the seller.
In certain situations, sellers will procure appraisals for their property as a bargaining strategy in the sale. It is highly recommended to maintain a copy of any appraisal conducted on your property for your records.
Cleaning – $0 to a few hundred
When endeavoring to sell one’s domicile, it is imperative that the residence be impeccably clean. A deep cleaning, or a thorough personal cleaning from the uppermost extent to the base level of the property, is strongly advised. The domicile must maintain a pristine state 24/7 to be prepared for open houses, unannounced showings, and visitations from interested parties. In the event that one’s schedule is already packed with other obligations, it may be necessary to seek assistance from external sources to ensure that the domicile remains in a condition that is befitting of its sale. The price of such services will fluctuate based on the dimensions of the domicile and the level of cleanliness required. A cleaning service will typically charge $100 or more for its services.
Staging – $0 to a few hundred
If your home is not yet adorned with novel hand towels, aromatic candles, brilliantly tinted throw pillows, and selectively situated houseplants, you may wish to consider doing so. This is a means of giving your abode the “straight out of a catalog” allure that so many aspire to. While this may necessitate a bit of effort, there are numerous cost-effective ways to achieve the desired result, whether through do-it-yourself projects or by taking advantage of deals at large retail stores. Regardless of the method you choose, it is essential to keep your living quarters orderly and well-organized. If interior decorating is not your forte, you might seek the assistance of a friend or consult the popular online platform Pinterest. Even a handful of small items can work wonders in bringing a room together and engendering a feeling of homeliness.
Repairs – Varies
When considering real estate transactions, it is important to recognize the necessity of negotiating repairs between a potential buyer and a seller. For those who are selling their property, it would be wise to acknowledge any repairs required and to inform potential buyers that such expenses have already been incorporated into the asking price. By providing the buyer with a credit for repairs, the seller instills a sense of confidence in the buyer’s decision to purchase the home. In the event that additional repairs are identified during an inspection, it is essential to address these matters and agree upon the terms prior to finalizing the sale.
Bills While The Home Is On The Market – Varies (Can be hundreds or even thousands!)
It is imperative that you maintain your home’s utilities, even if you’ve already vacated it during the time it’s being listed in the market. The duration of its sale is an unknown variable and may take a considerable length of time, possibly stretching to months. Furthermore, it is incumbent upon you to settle the property taxes and homeowners insurance up to the closing day. Should your home remain unsold for any duration (as is a common occurrence), these expenses may amount to a substantial sum of money!