Do you have a home in Texas that you’re thinking about selling the traditional way? If so, be ready for some significant costs. You need to learn about some of the typical costs when selling a home in Texas, as well as ways you can avoid or reduce these costs and save money. Let’s talk about how to avoid racking up costs when selling a home in Texas.
The costs of selling a home in Texas involve not just the usual real estate agent commission fees and closing costs. You’ll also have to think about home selling lawyer fees, home repair costs, home inspection costs, home selling capital gains taxes, and property taxes. So, how much does it cost to sell your home in Texas?
Typical Costs When Selling a Home in Texas
When you think about selling a house, it’s all too easy to just focus on the money that you will be getting. But if you want to go with the most common route and put your house on the traditional market, there will be considerable costs involved. In fact, you may end up paying as much as 10% (or even more) of the money you receive for your house.
House Repair Costs
If you want to sell your home on the traditional real estate market and it needs repairs, you’ll have to do these before you find the right buyer. After all, you’re not going to get the price you want, and your house deserves if there are issues detracting from your home’s value.
Depending on the current state of your home and any lurking issues you haven’t noticed, home repair costs may well be considerable.
Real Estate Commission
If you engage the services of a real estate agent or realtor to sell your home, you’ll have to pay him or her commission. Unfortunately, real estate agent commissions tend to be quite hefty. In Texas, you can usually expect to pay between 5% and 6% of your home’s sale price to your real estate agent. Remember, your home sale is how your brokerage makes money.
You’ll also have to pay any utility bills that are still outstanding on your property. All such costs must be discharged before you can close on your house sale. There may also be a scenario where you have to pay utilities on two houses at the same time. How is that possible? Well, if there are delays with closing on the sale of your home and you’ve already moved into a new one, this can easily happen.
Home Inspection Costs
If you’d like potential home buyers to be willing to pay what you want for your house, you will need to invest in a quality home inspection. Without this, you won’t be able to prove that you are offering a house that is worth the money you want to get. In many Texas cities and suburbs, you will pay between $500 and $700 for a home inspection.
When you do a traditional real estate transaction, closing costs must be paid in order for the closing to happen. There are several different kinds of costs that may be part of your closing costs, such as transfer tax and title insurance. Closing costs are yet another cost you have to pay when you sell your house in the traditional way.
You’ll need to have an idea of how to figure out what your closing costs will be. Many homeowners are confused by closing costs and exactly what they entail. Closing costs for a real estate transaction usually fall somewhere between three and six percent of the price you get for your house. You will want to reduce your closing costs as much as possible, but at the end of the day, there is a certain amount that you won’t be able to get out of paying.
Maybe you’ve heard that the buyer is the one who pays the closing costs. In reality, both parties to the transaction have this responsibility. And you won’t be able to sell your house if these costs aren’t paid. The fact that the buyer will bear some closing costs means that you might have to reduce your selling price.
Other significant selling costs include:
- Home selling capital gains taxes
- Property taxes
- Home selling lawyer fees
Can You Avoid Some of These Costs?
Absolutely, yes! You can reduce and even completely avoid some of these costs by selling your home for cash. When you sell your home for cash, you don’t have to worry about doing repairs. You sell your home as-is.
With cash selling, there are no closing costs or real estate commissions to worry about. In fact, you don’t have to deal with a real estate agent at all. No need for any enormous lawyer fees, either. When you go with selling your house for cash, you don’t have to worry about lenders falling through for potential buyers. But who can buy your home for cash? That is where Four 19 Properties comes in.
If you’re like some homeowners, maybe you assume you can avoid the costs of selling your home by going the for-sale-by-owner route. While it’s true this will save you real estate commissions; you will still have to deal with all the other costs we talked about earlier. You’ll also be in for a big headache and lots of learning on the fly. Finding potential buyers is often a big problem.
How to Avoid Racking Up Costs When Selling a Home
Selling your home to a well-known and highly respected cash buyer is the key to avoiding unnecessary costs when selling your Texas home. Are you looking for companies that buy houses in Fort Worth?
Four 19 Properties is a great option as well. We buy houses in Texas, including the city of Fort Worth. Are you asking, how do I sell my house fast in Granbury? Homeowners in that city have the same option as everyone else in Texas, being able to sell their homes for cash fast. Once you’ve decided to move, you have to decide on the perfect time to sell your house.
Selling Your Home Doesn’t Have to be Hard
Home sellers taking the traditional route are in for lots of expenses and hassle. If you want to sell your house the fast and easy way, consider a reputable cash buyer.