For many people, real estate is about more than just finding a place to live. It is about making an investment. We all know that buying a home costs money. But what about the Cost of Selling a Home? There are some factors that you may not consider when you’re planning your move into a bigger and better place.
Commissions:
The seller usually pays both the buying and seller agents; they can be approximately 6% on the first $100,000 and 3% on the balance. In this case this would amount to $12,000.
Preparations:
You’ll need to spruce up your home to make the sale. This can include staging, pre-inspections, landscaping, etc. Barring any major renovations, this will cost about $1,500
Miscellaneous Costs:
Legal Fees – Transfer title of the property, discharge any existing mortgage and make cost adjustments for property taxes, hydro etc. Expect to pay between $900-$1,500.
Moving Costs – If you rent a small truck for a day and have friends help for the cost of pizza and a drink that may run you around $350.00. However if you need to rent a medium size moving truck and two people that may cost you upwards of $2,000.
To find out more about the Cost of Selling a Home, please take a moment and watch the following video: