Today we’re going to shed some light on a real estate topic that many agents forget to mention to their clients: It costs money to sell a home.
You heard correctly! If you are looking to sell in Rego Park, you’ll need to prepare for the costs associated with your real estate transaction. We don’t want you to be faced with unexpected financial surprises on your road to real estate success, so here is a list of some of the major costs you’ll encounter on your journey:
- Real estate agent commissions: Agents work hard to help their clients meet their real estate goals on both sides of the transaction. The seller’s agent usually receives between 2.5% and 3% of the sale price in commission. In most cases, the seller is also responsible for the buyer’s agent’s fees, which amount to the same percentage.
- Closing costs: This typically ranges between 1% and 3% of the home’s sale price. Closing costs include taxes, title transfer and the costs of the professionals that moderate the closing.
- Seller concessions: When a buyer makes an offer on your property, they might ask the seller to pay for their closing costs, appraisal costs or title insurance fees. If you are looking to sell in Rego Park, you’ll see these common examples of seller concessions.
- Moving expenses: Guess what? If you’re selling your home, you’re also moving! Make sure you have enough cash on hand to fund your relocation.
- Preparing your home for sale: If you’re looking to sell in Rego Park, you’ll want to make your home appealing to buyers. Take stock of the major repairs, minor fixes and cosmetic details that will increase your home’s value and its ability to sell quickly.
In-the-Know Clients Experience Real Estate Success!
If you’re looking to sell in Rego Park, equip yourself with the knowledge to reap real estate rewards! Ask your agent to explain all possible seller costs to you before you commit to your decision to list your home. It’s one more thing you can do to ensure smooth sailing!
Contact us today at (718) 997-6000 or email us here for more information.