Selling your house in Phoenix? Make sure you run the numbers so you know exactly what to expect! A traditional sale can cost a fortune whereas a direct sale won’t usually cost you anything. In this blog, we discuss the costs and timeframe you can expect when selling your house in Phoenix!
Many people will blindly jump into a listing agreement with a [maret_city] real estate agent without first considering how the process will play out. Before signing an agreement or deciding how you want to sell your house in Phoenix, you should try to estimate how long it will take and what it will cost you. You should also consider different selling methods and how they will impact your situation. Keep reading to learn more about running the numbers for selling your house in Phoenix.
The trouble with repair costs is that they can tend to snowball. A leaking pipe that seems like a quick fix, may actually be the source of major water damage to the home. That’s an easy scare for a traditional buyer! Many homeowners find that once they fix one thing, several more repairs will follow. When putting your house on the MLS in Phoenix, you definitely want to put your best foot forward. This means making any noticeable repairs and preparing to have to do more after the inspection. Potential buyers will often try to negotiate after the appraisal and inspection process, forcing the seller to cough up even more cash. Some sellers will pay for an inspection on their own before listing so they know exactly what they are getting into, but every buyer will see those defects differently.
A lot can go into preparing your house for the MLS in Phoenix. You may choose to remove personal belongings and store them elsewhere. Or you may want to stage the house, adding in some pieces here and there to make the house look professionally decorated to have a greater appeal for buyers. You may even go so far as to bring in an actual designer to make the house look as warm and welcoming as possible. No matter how great your house currently is, you will likely find yourself doing some work to make it even better.
If you decide to list your house with a real estate agent in Phoenix, make sure you know which types of marketing will be used to sell your home. Some agents are full-service, pulling out all the bells and whistles, while others will simply put your house on the MLS, hoping for a buyer to come along. Most of this depends on strategy and price range as well. Many homeowners find themselves paying for premium listings, professional photography, and other marketing materials.
Do you know how much it costs to own your home? Not only are you likely paying a mortgage each month, but you should also account for the utility bills, repairs costs, HOA dues, and the usual maintenance expenses. Ask any real estate investor and they will tell you that the longer you own a house, the more it is costing you. To end your holding costs right away, consider a direct sale of your house in Phoenix. Selling in days instead of months has the potential to save you thousands of dollars that you would have otherwise spent on the home, and that’s assuming your home sells.
Agent Commissions and Costs
Your agent’s commission could be somewhere around 6% of your final sale price. So let’s say your house sells for $250k. You will immediately be out about $15k plus any other fees or reimbursements due to your agent. When you include this hefty amount with all the other costs and fees you will likely face, you may find that a direct sale will be a better way for you to sell.
Closing costs for a property seller will usually run anywhere from 1-3% of the final sale price. So again, if your house sells for $250k, you will likely be spending another $2,500-$7,500 once you reach the closing table. With a cash buyer like Valley Home Buyer, you won’t have to worry about the closing costs. We will handle everything so you can sell your house fast and move on.
When deciding whether to list your house with a Phoenix real estate agent or sell it on your own, it’s important to have a realistic idea of what everything is going to cost you. Don’t just rely on your estimated final sale price to tell you which way to sell. You must factor in all of the costs you will face too. Putting your house on the MLS can end up being expensive. However, for some houses, it makes the most sense. For other properties, a direct sale will ultimately help the seller keep more money in their pocket while saving time and energy. It’s important to look at your property and your situation to determine which selling method will be the best for you!