There are far more expenses involved in listing a home in Metro Detroit than most homeowners realize. Having realistic expectations about actual listing costs allows homeowners to accurately prepare financially for the outlay of funds. Regrettably not every cost is evident and all too often home sellers find themselves in a financial pinch because they didn’t figure out the true cost of listing their home on the market.
Whether listing with a real estate agent or endeavor to sell on their own, we’ve gathered all of the valuable information to help you make a sound decision for your financial and personal circumstances. Read on as we explore a breakdown of fees for homeowners listing their properties in Metro Detroit.
Repairs
When listing their homes in Metro Detroit, making necessary repairs may be the most costly out-of-pocket expense that homeowners must pay before the house sells and it is likely their biggest concern. Now, if your home is brand new or perhaps like brand new, this may not be of much concern. However, with older homes, each passing day brings the potential for new and expensive discoveries that could lead to significant repairs. There is no other way to make an educated decision than to have all of the facts beforehand. This is why the professional investors like those at Fast Home Offer Guys means you’ll have a complete understanding of how much it will cost to list and sell on the traditional market vs. a direct sale?
Commission
Real estate agent commissions are one of the substantial fees for homeowners listing their homes in Metro Detroit. Typically around six percent of the value your home sells for will be paid out in commissions, split between the listing agent and the buyer’s agent. As the average home price continues to rise, currently the median listing home price in Oakland County, MI is about $325,000 which equates to a commission of $19,500 which will be paid at closing.
Closing
When homeowners are listing their homes in Metro Detroit, don’t forget to add in the fees for the closing costs. While your prepping and marketing expenses all come out of your pocket upfront, along with the commissions you’ll pay all other fees such as the seller transfer tax, title insurance, escrow, closing fees and attorney or HOA fees as well as any credit you’ve provided your buyers will come out of the final sales price at the closing.
Prepping
For homeowners listing their homes in Metro Detroit, another expense you must account for is preparing the home before listing. A quick update to decor, a fresh coat of paint, cleaning and some new flooring will help get the home in show-ready condition but can put a big dent in your wallet.
Marketing
Real estate marketing fees for homeowners listing in Metro Detroit will also include professional digital photography and a 360-degree tour for most homes. Providing less than the best digital imagery in your listing can result in a poor response from your potential buyers. Tech-savvy buyers scroll by most listings that don’t immediately show well. A problem with your listing can cause your home to linger on the market, meaning you are more likely to realize a lower final sales price.
Staging
Professional staging has become a standard for homeowners listing their homes in Metro Detroit, adding to the fees. Staging your home may also require you to pay for storage for all or some of your belongings. A stager may also suggest that you may need to rent furnishings to better present the home both in marketing and during showings.
Holding Costs
Among the costs that aren’t obvious for homeowners listing their homes in Metro Detroit is the expense of holding the property month after month. As each month passes, the continued expenses associated with the property begin to deplete the projected profits, especially if something else should suddenly need to be fixed.
Timing
Another fee for homeowners listing their homes in Metro Detroit may be the expense of moving into temporary housing until your final destination is ready, which can be pretty expensive. You won’t need to worry about prepping, showings, or repairs if you work with a direct cash buyer from Fast Home Offer Guys, we buy homes as-is for cash, so the closing can be within days if you’re under a time crunch.
and your closing date is guaranteed. Not in a hurry? Then you can relax, Fast Home Offer Guys has the flexibility to set the closing at a date convenient to you and your family.
At Fast Home Offer Guys, you can speak with a professional investor with no obligation, these highly trusted and caring experts have the experience to help you solve your problems. Why not sell directly to Fast Home Offer Guys and sell your home without paying any out-of-pocket expenses upfront. The professional investors at Fast Home Offer Guys work every day to help homeowners, and we never charge homeowners commissions, closing costs or any hidden fees for listing their homes in Metro Detroit. Call Fast Home Offer Guys at (248) 590-3040.