What will selling your house in Stockton Cost ? Many people just rush out and list their house, without taking into consideration what it will actually cost them and when it is all said and done its a lot more expensive than they had initially thought. There are fees and expenses that yo need to be aware of before you list with an agent. In our latest post, we will let you know what costs to expect when selling a home in Stockton!
Studies show that the average amount it takes to sell a house in the US is $15,200! That’s a lot of money! Keep in mind, that number varies widely based on where you live and the price of your home. We are in California and that number is going to be considerably higher.
Will Selling Cost You Money in Stockton?
Agent Commissions – Commissions typically run about 6% of the final sale price of the home. You will know the agent’s commission when you sign your listing agreement. While this money isn’t paid upfront, it is deducted from the amount you receive. Keep this in mind when pricing your home.
Agent Fees – Depending on the agency, there might be additional fees charged throughout the selling process. Some agents will pass on marketing and listing fees directly to their clients. Make sure you know what’s included and what you will have to pay for when all is said and done.
Closing Cost – Closing costs include many items that are paid at the closing table. These include transfer fees, title insurance, title search fees, recording fees, transfer taxes, appraisal costs, discount points, credit report fees and more. Expect to pay about 2% of the final sale price in closing costs.
Holding Cost – I wish I had a crystal ball and could predict when a house will sell and unless you are selling to a cash buyer, the timetable is dependent on too many variables aside from finding and interested and qualified buyer. Even if your house were to go into contract within the first week with a 30 day closing, then there is a nearly 40% chance that the sale will fall apart due to inspections or lending. Since the real estate collapse of 2007, the rules for lending and buying houses has changed dramatically and this will impact the time it takes to sell. Keep in mind you will have to pay for all of the cost of the house until it closes.
Taxes – When you list your home for sale, you are responsible for the property taxes, utilities and homeowners insurance up until the day of closing. These amounts can add up to thousands should it take a few months for the property to sell and close. Once you decide to sell, the sooner it happens, the better!
Preparing Your House for The Market – There is a lot of time, energy and money that go into getting a house ready to sell. There are repairs to make, walls to paint and carpets to clean. You will want to remove personal belongings and stage the home for selling. Whether you work with a professional or do it on your own, you are likely to spend money on new decorative pieces in the house. You should also clean up the yard but also consider some new landscaping to bring more curb appeal to the property.
Inspections – While it certainly isn’t required, more and more sellers are paying to have their home’s inspected before listing them. This will cost approximately $200 and up. By doing an inspection before you list, you will be able to address any issues with the home before thy pop up in your buyer’s inspection. This will also give you negotiating power during the selling process.
Storage and Moving – While moving isn’t technically a selling cost, it is a large expense you will have to make once the house closes (if you haven’t done so already.) Whether you hire movers or do it yourself, moving can get expensive! How far are you going? Will you need a truck? Or pizza to bride your friends? You will also want to consider storage costs if you are living in the home while waiting for it to sell. Packing up unnecessary items ahead of time will make the house look nicer and give you an edge when it’s time to move.