Do you know about the costs of selling your house in the Orlando Florida area? Learn what to expect before putting your house on the MLS, selling on your own, or working with a direct buyer. You might be surprised at how the costs of selling can eat away at your profits!
Selling your house can be expensive. There are a number of things to pay for both before and after the sale. If these costs are particularly high, a direct sale will be a far better choice. In our latest post, we will dive into the costs of selling your Orlando Florida house using the three most popular methods. Compare all of your options before selling your house in Orlando Florida!
Costs Of Listing
When you choose to list your home with an agent, there are several costs to consider:
Agent Costs
This will vary based on the agent you choose to hire. You will typically be paying about 6% of the final sale price to the agents involved in the deal. With some agents, you will also face costs for marketing and administrative services. Be sure you know what’s included before signing a listing agreement.
Realtors typically charge a commission of 5-6% of the home’s sale price. This means if you sell a $300,000 home, you could be paying $15,000-$18,000 in commission fees alone.
Marketing Costs
Whether or not your agent includes marketing services in their rate, there are a few marketing costs you consider adding. Even with an agent, some marketing expenses may fall on the seller. Professional photography, virtual tours, and premium listings on real estate websites can add up.Many sellers will hire a professional photographer to take pictures of their homes. Some will utilize videographers or even drone service companies to get aerial shots of the property. You might also want to upgrade your online listings to “premium” so they show up at the top when people are browsing through houses in your area.
Repair Costs
Most houses will require at least a few repairs before going on the MLS. Once a buyer has been found, there will likely be negotiations as to who makes the repairs found during the inspection. Buyers often expect homes to be in good condition. Sellers may need to make repairs before listing, which could range from minor touch-ups to major renovations. You can negotiate to either make some of these repairs or discount the sale price of the home.
Cleaning And Staging Costs
A well-presented home sells faster. Deep cleaning, decluttering, and staging services can cost hundreds or even thousands of dollars. Most sellers will have their homes professionally cleaned before putting it on the market. Many will remove personal belongings and clutter, storing all unnecessary things elsewhere. Some will even hire a professional stager to come in to make the house look as if it came out of the pages of a magazine.
Closing Costs
In a typical home sale, the seller will need to pay about 2% of the final sale price in closing costs. This can be negotiated up or down between the buyer and seller, but 2% is typically what you can expect to pay.
Continued Ownership Costs
Listing your house with a Orlando Florida real estate agent can take a few months. During this time, you will still be responsible for property taxes, utility bills, homeowners insurance, maintenance, landscaping, and possibly a mortgage. When you add up all the expenses of owning the house each month, it can amount to thousands of dollars!
Costs of An FSBO (For Sale By Owner) Listing
Some sellers try to save on commission by selling the home themselves, but this approach comes with its own expenses: While trying to sell your house on your own will help you avoid commissions and agent costs, there are other costs to consider. In addition to many of the costs above, here are some additional costs to expect when selling your house in the Orlando Florida area.
Heightened Marketing Costs
Without an agent’s network, sellers often spend more on marketing, including ads, signs, and online promotions. When listing your house, the addition of extra marking is at your discretion. However, when you are selling on your own, 100% of the marketing is up to you. You will have to pay for all online listings, printed materials, signage, and open house costs. You will likely want a professional photographer to come in to help you present the house in the best light. You can also opt to add things such as virtual tours or videos of your property.
House Preparation Costs
Without professional guidance, sellers may struggle with pricing and presentation, leading to longer selling times and potentially costly improvements. Getting a house ready for sale can take a lot of work. As with a listing, there are a number of things that will need to be done before the house is advertised for sale. You will need to thoroughly clean the house from top to bottom. You should make any needed repairs, and be prepared to make more after the inspection process. Many sellers will also face storage fees for their unnecessary items, as well as the cost of a professional stager or decorator.
The Price Of Your Time
When you choose to sell the property on your own via an FSBO listing, you will find yourself spending an excessive amount of time dealing with the sale. Managing showings, negotiations, paperwork, and legal requirements is time-consuming and stressful. You will need to be available for showings, create listings and marketing materials, respond to questions, process paperwork, handle negotiations, and more.
Costs of Selling Directly
None
When you opt to sell your Orlando Florida house to a buyer such as Cash Home Buyer Florida, you will be able to avoid all of the selling costs mentioned above. There are no fees, repair costs, or even closing costs. We buy directly, as-is, potentially saving you thousands of dollars along the way.
When you sell directly to Cash Home Buyer Florida, you eliminate all these expenses. No agent fees, no marketing costs, no repairs, no staging, no closing costs, and no extended holding costs. We buy houses as-is, allowing you to sell quickly and walk away with cash in hand.
If you’re ready to sell your house without the hassle, contact us today for a fair cash offer!