If you plan on listing a COLUMBIA house, there are costs to contend with before you list, during the listing process, once an offer has been made and when you find yourself at the closing table. In our latest post, we will take a look at some of these listing costs so you can determine if a direct sale of your property would be the better choice for your situation.
The price to sell a house in COLUMBIA can fluctuate greatly. It all comes down to the house itself, the needed repairs, the location, etc. Each agent will work a bit differently. Some will charge you for things, while others are “all-inclusive.” Before you commit to an agreement, find out what listing your house in COLUMBIA will really cost you!
Upfront Costs
Before you even talk to an agent or get started on a listing, you will need to take care of the following things. Some you can do yourself, while others you might have to pay for. You might need all of these things, but they are all important to consider. Before embarking on the journey of selling a property, it is crucial to attend to several key tasks to ensure a smooth and successful process. Firstly, conduct a thorough assessment of your property, identifying any necessary repairs or improvements that could enhance its market appeal. Hiring a professional home inspector is a wise investment to pinpoint potential issues ahead of time. Assemble all relevant legal documentation, including the deed, property survey, and any warranties, to streamline the transaction. Understanding the financial landscape is paramount; know the details of your existing mortgage, such as outstanding balance and interest rates. Additionally, delve into market research to comprehend local real estate trends and determine a realistic asking price. Boosting curb appeal through landscaping and exterior maintenance, along with investing in professional photography and staging, will create an enticing first impression for potential buyers. Prioritize a pre-listing cleaning and decluttering to present a welcoming and neutral environment. Consider making energy-efficient upgrades, as they can be attractive selling points. Address pest issues promptly and ensure all utilities are in working order. Stay on top of regular maintenance tasks, such as HVAC system servicing and plumbing checks. Review your homeowner’s insurance policy for adequate coverage. Verify compliance with local regulations and zoning requirements to prevent complications during the sale. Offering a home warranty can instill confidence in potential buyers. By addressing these considerations proactively, you pave the way for a successful collaboration with real estate agents and a seamless listing process.
Cleaning
To create an environment that is appealing and welcoming, you will want to make sure the house is clean. You can do a good job yourself, but bringing in a professional to do a thorough cleaning of the house from top to bottom, can make the whole house look different. If you aren’t replacing the carpets or flooring, you will want to pay to have a professional clean those as well. Don’t neglect the outside. If you have a second story, it might pay off to hire a pro to come wash your windows! Crafting an inviting and appealing environment for potential buyers begins with ensuring the house is impeccably clean. While personal efforts can go a long way, engaging the services of a professional cleaner for a thorough top-to-bottom cleaning can transform the entire look and feel of the home. Professionals possess the expertise and tools to tackle deep cleaning tasks that may be challenging to achieve independently. Paying attention to details, such as carpets and flooring, is essential. Even if replacements aren’t in the plan, investing in professional cleaning services for these areas can rejuvenate their appearance, leaving a positive impression on visitors. It’s crucial not to overlook the exterior of the house. If your property includes a second story, consider hiring a professional to wash the windows. Clear, sparkling windows not only enhance the curb appeal but also allow natural light to flood the interior, creating a bright and welcoming atmosphere. By prioritizing cleanliness both inside and outside the house, you set the stage for a visually appealing and inviting space that can significantly impact the overall perception of potential buyers, increasing the likelihood of a successful and swift sale.
Storage
While cleaning the home, it is a great time to pack away all of your unnecessary items. People don’t want to see personal possessions or clutter when touring your home, so you will want to make sure everything is packed away. You might need to consider an offsite storage space or pod to hold your items until you have moved into a new house. As you embark on the process of preparing your home for sale, the cleaning phase presents an excellent opportunity to declutter and streamline the living space. Packing away unnecessary items is a pivotal step in presenting a home that resonates with potential buyers. The goal is to create a clean slate, allowing visitors to envision themselves in the space without being distracted by personal possessions or clutter. Consider sorting through belongings and packing away items that are not essential for daily living. This includes family photographs, personal memorabilia, and excess decor. The intention is to depersonalize the space, making it more neutral and universally appealing. For the items you choose to keep but don’t need during the selling process, exploring offsite storage solutions or portable storage containers (pods) can be a practical solution. This allows you to clear out your home while keeping your belongings secure and accessible until you’ve completed the move to your new residence. By minimizing visual distractions and creating a clean, organized environment, you enhance the marketability of your home and increase the likelihood of making a positive impression on potential buyers during tours and showings.
Repairs & Upgrades
You will want to fix up anything visibly broken or worn. This includes fixing and painting walls, replacing cracked tiles, and smoothing floorboards. You might also take this opportunity to make minor upgrades such as new fixtures or hardware. Sending money on these things can help improve the value of your home. You just need to be comfortable paying upfront. Addressing visible wear and tear and making necessary repairs is a pivotal step in maximizing the appeal and value of your home before putting it on the market. Attend to any visibly broken or worn elements throughout the house, starting with the walls. Patch up any holes, cracks, or imperfections, and consider giving the walls a fresh coat of paint in a neutral and universally appealing color. This not only revitalizes the space but also provides a clean canvas for potential buyers to visualize their own decor. In high-traffic areas, check for cracked tiles and replace them to create a polished and well-maintained appearance. Repairing or refinishing floorboards is another worthwhile investment, smoothing out any signs of wear and tear. Flooring is a key feature that buyers often pay close attention to, and presenting well-maintained floors can significantly enhance the overall impression of the home. Consider making minor upgrades to fixtures and hardware throughout the house. New faucets, cabinet handles, and light fixtures can add a touch of modernity and freshness to the space. While these upgrades may seem small, they collectively contribute to an updated and well-cared-for ambiance.
Landscaping
You can’t have a beautiful listing with an ugly yard. The front yard is the first thing people see. This should not only be cleaned up but also used to showcase your home. Many people will add plants, flowers, new doors, or fencing to make their curb appeal pop.
While The House Is Listed
While the property is on the market, you will still find yourself paying to have it for sale. There are many expenses you will be paying during this time that you could avoid with a fast and direct sale upfront.
Monthly Costs
While the house sits on the market you will still need to pay the monthly utilities. Even if you have moved out of the house, you still need to keep the water and electricity on for people viewing the home. You will also have to continue paying the homeowner’s insurance and property taxes up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.
Marketing
Some agents will include great marketing, while others will not. To successfully list your house, you will want to ensure there are great listings and great photography of the home. Some people are even hiring drone photographers to capture their homes from above.
After An Offer Has Been Made
Once an offer has been made, and accepted, you will still be responsible for the insurance, utilities, and taxes up until the day of closing. Depending on the lender this could add several weeks to your timeframe. In turn, adding more money you are paying to own the home. Most offers are contingent on an inspection and appraisal process. You can avoid the below costs with a direct offer from a company who purchases as-is.
Negotiated Repairs
Once the inspection has been completed, you might have to negotiate repairs based on the severity. If there is a major problem with the house, the potential buyer will likely request it be fixed before going through with the sale. (The bank isn’t likely to fund a loan for a damaged property either.) If your buyer decides to rescind the offer, you will need to disclose the needed repair to all potential buyers going forward.
At The Closing Table
Commissions
Once you are signing final sale paperwork, it is also time to sign over a check to your agent. This will typically run about 6% of the final sale price of the home.
Closing Costs
Many additional fees are lumped together as closing costs. These include document filing, title search fees, credit check costs, transfer taxes, property taxes and more. On average, this will run you another 2% of your final sale price.
Once you add up all the costs, you can see that listing may not be right for every property. Many people find greater benefits by choosing a direct sale! Run the numbers for yourself, and make the decision that works best for you!