Q: What’s the true cost of selling a
home?
A: Roughly 10-12% of the sale price.
Here’s a DETAILED breakdown
- Agent commissions (or now called Buyer
Concessions): 4-5% of the sale price. - Attorney fees (if applicable), transfer
taxes, and other administrative costs: 1% of the sale price - Home repairs and inspection requests:
$100-10,000. The most common repair on a home inspection report? Sticky doors
that need adjusting. The second? Leaky faucets and shower heads.
Optional expenses:
- Moving: The average cost of a local move
with a two-person team is $1,400. A cross-country move will set you back
$2,200-5,700. Save on moving by grabbing a few friends and DIY. - Interior staging and exterior
landscaping: 18% of sellers’ agents said staging increased a home’s value
between 6-10%. Staging and landscaping will run 2% of the sale price, making
both worthy of your time and money. - Seller concessions: To sweeten the deal,
you may help a buyer with inspection fees, processing fees, or other costs.
Usually, no more than 2% of the sale price. - Home warranty: Some sellers offer buyers
a warranty to cover the home leading up to closing, so the buyer knows they’re
not facing repair costs as soon as they sign. A home warranty costs $300-500.
One mistake I see from sellers. Pouring money into the wrong improvements before getting an agent involved.
If you’re thinking of selling, don’t wait to get an agent’s eyes on your home — it’ll focus your efforts and help you get every dollar out of your home. Want help? DM me today.
First Time Buyers
