Let’s be honest, nothing is really free and in the end, what you save sometimes will cost you more in the end. Ever hear the term you get what you pay for?
Well, same goes for the agent you work with.
Thinking about selling your house in Philadelphia? Traditional home sales carry several expenses, some of which you may not have taken into consideration. No matter if you select to work with a professional real estate agent or sell on your own, you’re likely to run into all of these expenses.
We will explore five costs you may not be aware of when selling your house in Philadelphia.
Commissions and Fees
Along with the traditional commissions that real estate agents charge, there may also be fees charged for the brokerage services and other costs associated with using an agent.
The average commission to real estate agents in Philadelphia is roughly $16,000!!!!
Even if you sell on your own, a buyer is likely to be working with an agent, who will take the commission from your profits.
These commissions and fees can run into the thousands and are something you may not be aware of when selling your house in Philadelphia.
Marketing
Marketing is what listing is all about and while yard signs may bring in buyers, the internet is the new highway that brings buyers to your door. Besides the inconveniences of showings, successful marketing comes with costs you may not be aware of when selling your house in Philadelphia.
Let’s be honest most agents are just listing your property on the MLS and hoping that a buyer comes through.
In order to compete, online listings require high-quality photographs, submitted by a professional photographer. This may also include the services of a professional drone pilot for virtual tours given today’s high demand for this feature on listings.
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Prepping your home to be in selling condition may be one of the largest and most stressful of the costs you may not be aware of when selling your house in Philadelphia. When the last thing you want to do as a seller is to invest even money into the house, this is just what you may end up having to do.
Especially, as that that needs major repairs or is in what we call “as-is” condition.
The average cost of repairs in Philadelphia can be anywhere from $16,000 to-40,000 depending on what needs to be done.
Inspections can deliver some very expensive news, especially in older homes. Structural issues, foundation or even plumbing problems can literally run into thousands of dollars.
Any known issues with the home must be disclosed. If you aren’t able to afford the repairs, be ready to deduct the costs from your asking price. 90% of the time this is what kills the deal.
Holding Costs
Holding onto a property that is lingering on the market carries costs you may not be aware of when selling your house in Philadelphia. One delay could be caused by your buyer being denied financing.
That’s why CASH IS KING!!!!!
If you’ve moved forward with plans and relocated, holding the property is a burden and adds greatly to the listing costs to expect when selling your house in Philadelphia. Now, to avoid them there is another option to sell your home quickly, with definite closing date and firm offer from Philly Home Investor!
We can close in as little as 21 days!
Closing Costs
Closing costs for the seller are also costs you may not be aware of when selling your house in Philadelphia. While some of these costs may be negotiated in the contract, you’ll be responsible for items such as the transfer tax and title insurance, there are also escrow and closing fees along with any HOA fees, attorney fees, and prorated property taxes.
Some sellers also sweeten the deal to attract buyers by paying a credit towards the closing costs.
You could be facing a small fortune in costs that you may not be aware of when selling your house in Philadelphia. Why not avoid the listing costs you’d normally expect to pay by selling to Philly Home Investor instead?
With a direct sale to Philly Home Investor closings are quick, usually within 21 days or less and you don’t need to worry about repairs. Philly Home Investor takes on the risks, buying your home as-is. Philly Home Investor even pays all of the closing costs. Send us a message or call us at (215) 422-3288 today to find out more!