So many of our first-time selling clients are under the misconception that when they sell their home in Billings they’ll walk away with a check for the selling price minus what they still owe on the house and the real estate commission. It’s a bit of a shock to them to find out that isn’t the case; there are other fees and expenses involved in selling. Let’s take a look at just a few of them.
If your home is in pristine condition, skip this section. Most homes, however, need at least minor repairs or cosmetic work. So, before you put your Billings home on the market you’ll be spending money to make the repairs and do some touch up on paint and other items.
Remember, many pre-market tasks will net you a return on your investment. Painting, for instance, is one of the most cost-effective things you can do to get the home ready to sell. Staging the home is another. (Speaking of Staging, we offer complimentary staging for our selling clients)
Expenses while the home is on the market
These costs vary, depending on whether or not the home is occupied. If you’ve already moved, you’ll need to keep the utilities turned on at the old house so factor in the cost of paying two utility bills. You may need additional liability insurance coverage for a vacant home as well, so call your insurance agent to find out.
Don’t forget the cost of pool and landscape maintenance and HOA dues if the home is in a managed community.
Selling by owner
Don’t think that by skipping the real estate commission you won’t have expenses. You’ll need to market the home and that costs money. In fact, to effectively market a home can be quite pricey. Then there are legal fees, the cost of contracts and other forms you’ll need, signage and the cost of the time you will need to take off work for showings.
Yes, sellers have closing costs just like buyers. These will be deducted from your proceeds so factor them in when trying to figure out how much it’s going to cost to sell your Billings home. Closing costs vary so the best person to speak with about this is your lender or title company representative.
As a rule of thumb, plan on paying off your loan balance, the real estate commission, attorney’s fees, taxes and notary fees. These are just the basics, however, and the rest depends, as we said, on a variety of factors.
Feel free to contact us if you have additional questions about selling your house in Billings:
What we offer you as our selling client: https://www.billingshomesforsale.com/seller-services/