Most people don’t realize that selling a house means you need to also pay money. We understand that you want to sell your house and you’re looking forward to putting money in your own pocket. But you have to be aware that it’s not just about that. There are fees associated with selling a house. Let’s talk about those in our blog post. Let’s break down what are the different fees paid to agents versus paid to investors…
Oftentimes, selling a house means that you have to pay. Yes, it’s not always the case, but it happens. We want to discuss this so that you’ll have an idea about the different fees that you have to pay. This should also help you decide if you want to work with an agent or if you want to sell directly to an investor.
A real estate agent/middle man is a salesperson who will try to find a buyer to buy your house. In order to do this, they will have to list your property in a listing service and come up with marketing ideas to try and find a serious buyer.
You’ll end up paying tons of fees to the agent. These fees include commissions if they were able to sell the house. And usually, it’s about 6% of the sale. That’s $6000 for $100,000 sale! This is the largest fee that you’ll have to pay but there are other fees that you will have to shoulder too. There are other fees that you’ll have to be ready as well, like advertising fees or any other fees associated with selling your house.
There also may be a fee to listing your house or the agent’s brokerage or to get a sign in front of your house or even for the title company! The list goes on and on… You can ask your agent about these and they should be able to confirm it to you.
This is the part where most sellers get surprised all the time. There are RARELY any fees to cover if you sell to an investor. Investors usually cover all of the fees associated with selling your house. The best part of it all is that you don’t have any commissions to pay since they are not agents, they won’t need to list your house. You may be responsible for closing costs but this depends on un the investor. Make sure to ask your investor about who will actually pay for the closing costs.
The One “Fee” You May Not Be Thinking Of
There’s one more cost/fee that people keep forgetting. When you work with an agent, they will ask you to fix the house and of course, you will have to pay bills and taxes until the actual closing date or until the agent closes the sale with a buyer. Although this is not a fee to the agent, it’s a cost that you have to shoulder because you chose to work with an agent. Yet, when you sell to an investor, they buy really fast so you definitely end up saving this type of cost as well.
So what’s actually right for you? It really depends on how much you’re willing to pay and how quickly you need to sell your house. If you want to go over this in detail or confirm that we really won’t charge you any fees if you sell your house to us then please get in touch and we’ll be happy to walk you through it.