There are many costs associated with selling a house in St. Louis. While some of these fees may be unexpected, it’s important to know what to expect when putting your home on the market. Repairs, realtor charges, closing costs, moving fees, and other expenditures may easily consume 12 percent or more of the ultimate sale price of your house.
By understanding the common fees of selling a house, you can better plan for your sale and avoid any unpleasant surprises.
Here Are Some Of The Most Common Fees Associated With Listing A Home:
-Real Estate Agent Commission: 6%
This is typically the most significant fee you’ll pay when selling your home. It’s typically a percentage of the sale price (usually 6%) and is paid to the real estate agent who helps facilitate the sale. Realtor commission fees are a significant expense for Missouri home sellers, accounting for a substantial part of the overall selling costs.
-Negotiation and Buyers Incentives: 1-3%
The buyer may ask you to provide incentives or make concessions to ensure the purchase goes through, depending on your Missouri property and the market in your region. If you agree to these concessions, you’ll reimburse the buyer’s expenditures, such as inspection fees, closing charges, repair credits, etc. A buyer’s house warranty is another concession you might provide. This could amount to 1-3% of the sale.
-Closing Costs: 0.6-2%
Closing costs are the expenses associated with finalizing the sale of your home and can include things like loan origination fees, title insurance, recording fees, title fees and more. Depending on your situation, you may be responsible for some or all of them.
-Repairs And Renovations: 3%
If your home needs any repairs or renovations before it can be sold, you will need to pay for those yourself. Unless you want to sell your Missouri home “as-is” or to a cash buyer, you’ll need to invest some money to get your property market-ready.
You should invest in some basic pre-listing upgrades at the very least. Some of the most frequent pre-listing expenditures include.
- Home staging
- House and carpet cleaning
Finally, don’t forget to factor in the costs of moving when you’re estimating the expenses of selling your home. If you’re hiring professional movers, this can easily add up to hundreds or even thousands of dollars.
Home Buyer Advantages:
- You can close quickly
- Easy process
- Less stressful
- You don’t have to worry about repairs
- You don’t have to pay commissions
- You don’t have to stage your home
We Buy Houses For Cash In St. Louis
At Velocity Home Buyers, we don’t believe in hidden fees or last-minute surprises. We pay all standard closing costs when you sell your house to us. We want the process to be as smooth and stress-free as possible for our clients, including taking care of all the little details.
When you work with Velocity Home Buyers, you can rest assured that there will be no hidden fees or unexpected costs. We’ll make you a cash offer for your home as-is, so you don’t have to worry about making any repairs or renovations. And there are no real estate agent commissions or closing costs when you sell to us. So if you’re looking to save on marketing costs, give us a call today!