When preparing to sell your house, it’s essential to understand the costs to expect with a traditional sale. Selling through a real estate agent in Joliet can seem straightforward, but the process involves several expenses that may affect your final profits. By knowing these costs in advance, you can decide if working with an agent is the right choice or if alternative selling options might be better suited for your needs. Below, we outline the five most common costs to expect with a traditional sale of your Joliet house.
Repairs
One of the most significant costs to expect with a traditional sale is related to repairs. Buyers expect homes to be in good condition, so addressing issues like faulty wiring, outdated plumbing, or cosmetic damage is often necessary before listing. Even minor fixes, such as patching walls or replacing worn-out fixtures, can add up quickly. If a buyer’s inspection uncovers additional problems, they might request repairs or negotiate for credit, further reducing your bottom line. Planning for these potential repair expenses is crucial to avoid surprises later in the process.
Professional Cleaning
A clean and presentable home is key to attracting buyers, which is why professional cleaning services are another common cost to expect with a traditional sale. Whether it’s hiring a team to deep clean your carpets, scrub tiles, or power wash the exterior, these services help showcase your home at its best. For sellers who prefer to handle cleaning themselves, the time and effort required can still be overwhelming. Cleanliness can influence a buyer’s perception, and skipping this step might make it harder to sell your property for the price you want.
Marketing Fees
Marketing is an essential part of selling your house, and many real estate agents pass these costs on to the seller. The costs to expect with a traditional sale include professional photography, staging, and online advertising to ensure your property stands out. High-quality marketing can attract more buyers, but these services aren’t always included in the agent’s commission. Without professional marketing, your home might take longer to sell or attract lower offers, which could further impact your profits. Understanding the scope of marketing services your agent provides is essential to avoid unexpected fees.
Commissions
Real estate commissions are among the most notable costs to expect. In Joliet, agents typically charge a 6% commission fee, which is split between the buyer’s and seller’s agents. For higher-value properties, this percentage can represent a significant amount of money. While a skilled agent can help you secure a strong sale price, you must weigh the commission against your overall net profit. In some cases, alternative options like direct home sales can save you this expense, making them a viable choice for sellers looking to maximize their earnings.
Closing Costs
Closing costs, which often range from 1-3% of your home’s sale price, are unavoidable expenses when selling a house traditionally. These include fees for title searches, escrow services, and document recording, among others. Additionally, some sellers in Joliet might face prepayment penalties on their mortgage, further adding to the unexpected costs. While buyers often cover a portion of these fees, sellers are still responsible for a significant share, making it crucial to budget for these expenses ahead of time.
Simpler Way to Sell
If the costs seem overwhelming, consider alternative methods like direct home sales. At Heartland Funding Inc., we help homeowners in Joliet sell their properties quickly and without the hassle of repairs, cleaning, or commissions. Our transparent process allows you to save money and close on your timeline, giving you peace of mind throughout the transaction.
Contact us today at (800) 255-8250 or fill out the form below to learn more about how we can simplify the selling process for you.