| How Much Does it Cost to Sell a House
When selling your home, there are several costs to consider. It is essential to have a clear understanding of these costs before putting your house on the market.
Marketing costs are one of the significant expenses associated with selling a property. Every property is unique and requires its approach to marketing. Your agent will recommend a marketing campaign and provide you with a “Marketing Schedule.” Be sure to discuss the details with your agent to comprehend what you are paying for and how much each item on the schedule costs. Depending on your location, budget, and property, your marketing expenses can range from $2,000 to $10,000+.
Getting your home ready for sale is another factor that can affect your expenses. The cost varies significantly depending on your preferences and requirements. However, spending money on cleaning up and improvements like lawn and plants can add thousands of dollars to the sale price and increase the appeal and speed of sale. Styling is also another essential factor that can improve the attractiveness of your home and return thousands of dollars on the final sale price.
Agent fees are another significant cost involved in selling your home. Agent fees can vary substantially and should not be based solely on cost. Choose the best agent to sell your home, which is often not the cheapest. Generally, there are two types of real estate agent fees: flat fee and percentage of the sale fee. Bonuses are also often used as an incentive to pay agents extra for above the asking price. Auction costs can range from $500 to $2000+.
Conveyancing fees are required for every real estate purchase in Australia. It involves transferring the legal ownership of a property from one person to another. Using a local solicitor or licensed conveyancer is recommended as local knowledge can be an advantage. Conveyancing fees usually range between $800 and $2000+.
If you have a mortgage on the home you’re selling, you will need to pay your lender a discharge or early exit fee, which can range from $150 up to $1500+.
In summary, it is crucial to understand the costs involved in selling your home before putting it on the market. Work with your agent to budget for these expenses and ensure that you have a clear understanding of each cost involved.
Disclaimer: Although all care is taken. We do not give any warranty whatsoever to the accuracy of any content. This is not meant to be financial or professional advice and is only of general nature. You must seek professional advice before taking any actions. The above information comes with no warranties whatsoever. We take no responsibility for any actions you may or may not take. All content is of general nature only and is NOT to be taken as advice whatsoever