You want to sell your Washington DC area house and you’re looking forward to putting some money in your pocket. But did you realize that sometimes selling your house may mean you have to PAY money? In this blog post, we break down the different fees you pay when listing with an agent versus when selling to a real estate investor.
It’s true. Selling your house can sometimes mean that you have to pay. (Granted, this isn’t always the case but often it is.) We want to you to know about the different fees you have to pay because this information may help you decide whether to work with an agent or to sell your house directly to an investor.
Fees When Listing With A Real Estate Agent
At the end of the day, an agent is a salesperson. He or she is trying to find you a buyer to whom you can sell your house. In order to do this, she will list your house in the MLS (multiple listing service) and use various marketing strategies to find a buyer.
Real estate agents typically work on commission, so you’ll likely end up paying them 6% of the sale price of the house, or about $6,000 for a house that sells for $100,000, IF they can sell the house. There may be other fees you have to pay as well, including different advertising fees or other costs associated with selling your house. Some agents charge a fee to list your house. There might be a fee to the agent’s brokerage. Sometimes you’re charged a fee to get a sign installed in front of your house. You may pay a fee for the title company. The list goes on and on. Ask the agents with whom you’re considering working about the various fees to get a full and clear picture.
Fees When Selling To A Real Estate Investor
Most home owners are surprised to learn that when selling to a real estate investor, you rarely pay any fees. Investors take care of all fees associated with selling (except for those closing costs you are required by law to pay). Plus you don’t pay any commission because investors are not agents; they’re not listing your house.
The Hidden “Fees”
When you list your house for sale with a real estate agent, you’ll need to spend money making repairs and updates to your house (like replacing the carpet on these stairs!). Then you’ll have to continue paying your bills and taxes for as long as it takes the agent to find a buyer. Although these aren’t necessarily “fees,” they are costs you’ll have to pay because you listed with an agent. However, when you’re selling your house to a real estate investor, the transaction closes quickly (possibly within seven days), so you end up saving money there as well.
What’s right for you? It depends on how much work you have in repairs and updates, how much you’re willing to pay in fees and how quickly you need to sell. It never hurts to explore your options. Call Express Homebuyers today at (877) 804-5252 to get your fast, fair and no-obligation offer.