It’s easy to earn a decent profit by selling your home in Phoenix. But the entire home selling process can cost you a lot of money. There are many costs associated with the home sale, whether you plan to sell the house on your own or employ a realtor. Here are some of the expenses you have to pay during a home sale.
1. Professional Fees
Professional appraisers have to be hired to determine the value of your home so that buyers can find out their mortgage eligibility from their lender. In addition, a professional inspection certificate adds value to your home. Apart from these charges, you will have closing costs and legal fees during the sale.
2. Realtor Commission
Hiring a real estate agent is unavoidable if you need to sell a house fast in Phoenix. A realtor commission can eat up a considerable chunk of your sales proceeds. They charge anywhere from 4% to 6% of the sale price as commission. You also need to pay transaction fees to the closing agent and the real estate agent’s office.
3. Upgrades and Repairs
Repairs and renovations are part of the home selling process that can boost the value of your property. But it can be expensive to repair the roof, replace the floors, repaint, get window replacements, and do other major repairs. You may also have to pay for the cost of new appliances, furniture, and fixtures. These do add value to your home and raise the final sale price if you can afford the upgrades.
No matter how well you are prepared for the home sale, you will still need to spend money on advertising and listing your home on the MLS. Real estate signs, flyers, and open houses can also cost a lot of money to promote your home sale.
5. Maintenance and Utilities
Home maintenance is another considerable expense when you are selling a home. Whether the house is vacant or you are occupying it, you have to pay for electricity and other utilities. You may also have to pay for the cost of cleaning and pest control services. Other maintenance includes lawn care, changing the air filters, and making sure the utilities are turned on.
All of these expenses can add up to a lot of money! Plus, you don’t know when you will be able to sell your home. The good news is that you can reduce the cost of selling your home by considering Phoenix cash buyers. They buy all types of properties in any condition for cash. You don’t need to fix up your home or spend money on listing, commissions, or closing fees.