Buying and selling houses is a complicated process. For the buyer, it’s all about the price, while for the seller, there are all types of hidden costs that they don’t realize they’re going to have to cover until it’s too late. These costs are in addition to the price of the home and other associated fees. Get the complete picture here https://www.martinlegacyholdings.com/sell-my-house-fast-waynesboro-ga/.
Here are the hidden costs of selling your house:
The home inspection covers the physical condition of your home. Typically, a home inspection will cover the roof, electrical and plumbing systems, heating and cooling system, foundation, exterior and interior. As a seller, you will be informed of any repairs that are necessary.
Depending on the agency you choose, you may have the option to pay for a home inspection. If you are paying for the service, it is typically about $200. The inspection will tell you if there are any major repairs that will need to be made after you sell your house.
Closing costs are usually accumulated over time and include real estate taxes, title insurance and any additional fees that may be incurred by the closing agent or brokerage firm handling the transaction. For instance, if a seller offers a seller’s insurance policy, that cost is added to the closing costs. Closing costs usually range from 2% to 10% of the sale price of the property.
The deposit is used to ensure that you have settled all debts (such as unpaid real estate taxes) before you move into your new home. In some cases, you can use part of the down payment to cover those outstanding bills. The deposit is typically equal to one month’s worth of mortgage payments.
An appraisal is used to determine the value of your property and ensure that the full amount of your home will be covered in case there are any liens on your property. Appraisals are usually about $300 and can be high, depending on how you want to handle the appraisal process. As a seller, you don’t have a choice about getting an appraisal, but you do have control over who does the inspection.
Utility Service Termination
If the house is currently being served by utilities, you will need to pay for the outstanding utility bills. This charge can be costly and can range from $50 to $200 depending on how much time is left on the utility bills.