City Properties Journal

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Selling your house is not as easy as one, two, three. Being a seller entails expenses too, that is why no one can readily answer when the question: what expenses do I need to shoulder when selling my house? is asked. A lot of factors come into play to be able to arrive at a definite figure. Here are a few costs to help you figure it out.
Before sales upgrading, maintenance and cosmetic costs. Go over all those essential things that need to be done to increase the value of your house. The price bracket of expenditures here is rather endless and it would help to ask yourself the following questions:

• Are there structural changes that must really be done? What further repairs will the home inspection uncover, and what do you and your broker think this/these will do to your asking price? The price of these sorts of small projects could be high and will take time to accomplish but it could also mean a higher sale price than what you paid for them.
• What kinds of budget priced upgrading can you do that will bring a warm glow to your potential buyer’s face? Renovating the kitchen or a bathroom could probably do that.
• What aesthetic changes can you make yourself or at a minimal expense? Some minor landscaping, planting a flower or bush in your yard could enhance your frontage or repainting a room are some of those changes you can do.

• Lastly, you could try “staging” your house. Staging is paying a professional company to set up your home( accessories, furniture, window treatments, etc.) and display it with its “best foot forward” - meaning the company will showcase your house’ best features and downplay its flaws.

However, the expense for these types of upgrading could range from a hundred dollars to thousands of dollars. Be pragmatic about what your house really needs and be sensible in your expenditures.

• Transaction Costs. What expenses will I shoulder as the seller in the course of selling my house? Before sales upgrading definitely comes from the seller’s pocket while most of these transactional costs will be deducted from the proceeds of your sale.
• Real estate fees and commissions could be anywhere between 5% - 7% of the sale price and is normally handled by then one processing the closing.There could still be other discounts in this which means lesser expenses for you. This expense is sometimes split between the buy side agent and the sell side agent, and you make out the check to the real estate brokerage company where these agents works.

There are still other costs involved when you sell your house.