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The True Costs of Selling a Home in Today's Market
Manage episode 182199503 series 1319889
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Selling a home can be expensive, and today I am going to break down exactly why.
Buying a Hampton Roads home? Get a full home search
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Selling your Hampton Roads home? Get a free Home Price Evaluation
A lot of agents are trying to avoid this topic and tell you at the last minute how much it might cost to sell your home. Selling a home can be expensive, so it’s important to know what you’re getting into before you make the decision to sell yours.
The total cost of selling a home averages around 10% of the list price. The reason for this is the commission for employing a buyer or seller’s agent is typically around 6%, and it’s also typical for sellers to give a 3% buyer’s commission. There’s also an additional 1% for seller closing fees and minor repairs.
The total cost of selling a home averages around 10%.
So, say you’re selling your home for $300,000. Given the percentages I just stated, it’s going to cost you about $30,000 to sell your home. Now, that isn’t out of your pocket. The money comes from the proceeds from the sale of your home.
If you have any other questions about this topic or you’re looking to buy or sell your home, give us a call. We’d be happy to help!
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