The Real Costs of Selling a House in Lynchburg

The Real Costs of Selling a House in Lynchburg
The Real Costs of Selling a House in Lynchburg

Selling a home costs a lot of money, often as much as 10 percent of the sales price. But you can reduce that with a little negotiating, planning and do-it-yourself taskwork. If you would rather sell your house the easy way: No commissions, No fees, No repair costs, and you pick the closing date, Contact us today for your free cash offer! 434-390-2906

Agent fees

As far as fees go, these haven’t changed much. The seller is typically responsible for paying commissions to both the listing agent and the buyer’s agent. These will total about 6 percent of a home’s selling price, usually split equally between the agents. On a $300,000 home, for example, that means $18,000.

How to save. Negotiate. Nearly half of recent home sellers who pushed for a lower commission were successfully. You can often get a listing agent to lower her commission, for example, if you agree to use her as your buyer’s agent when purchasing your next home.

If you’re willing to tackle some of the work that goes into selling a home, hiring what’s known as a Flat Fee broker can help you save on agent fees. Flat fee brokers will list your home on the MLS for a set price instead of charging a percentage of the home’s selling price.

Need to sell your house in Lynchburg and surrounding areas? Explore your options. Sometimes listing with a Realtor is not what will work best for you. We pride ourselves on providing the best solutions for our sellers NO MATTER WHAT. We pay cash and cover all closing cost. Check out a recent post on our site about listing on the MLS vs Selling to an investor. https://www.linkeninvestments.com/compare/

Presale repairs

You’ll want to fix up your home before you put it on the market. Even a minor flaw, like a leaky faucet, can dissuade potential buyers from making an offer. Unfortunately, that means you could be facing some hefty bills. A common rule of thumb is to budget at least 1 percent of your home’s value annually for maintenance (you may need to at least double that for an older home). If you’ve been procrastinating on basic fixes, your catch-up costs could be in the thousands. According to a Houzz survey from a few years ago, people preparing to sell their home spend an average of $36,300 on renovations.

How to save. It pays to be a diligent homeowner over time, fixing problems as they emerge. But if you’ve neglected the small stuff, consider focusing on the flaws that would be most noticeable during showings, like hairline cracks, which a professional can fix for about $330. That said, don’t hide significant flaws, and be sure to disclose issues in writing. You could be liable for not disclosing defects if you misrepresent the health of your house.

You don’t have to worry about repairing or cleaning up your property. We’ll buy your house in as-is condition… no matter how ugly or pretty it is… no matter the location. We close fast and pay cash in as little as just 7 days.

Staging

Don’t know the term? Today it’s common to remove most or all of your possessions and replace them with rented furniture, art and rugs that show your home in a more contemporary and neutral way. After all, you’re not trying to sell someone your old house — you’re trying to sell someone his or her future house. In a survey by the National Association of Realtors, 17 percent of sellers’ agents said staging a home increases its dollar value between 6 percent and 10 percent. But staging costs can add up: Furnishing a 2,000-square-foot house can cost around $2,000 per month.

How to save. Rather than stage your entire home, stage the rooms that have the greatest impact on home buyers, recommends Chris Dossman, a real estate agent in Indianapolis. “The living room and kitchen are the most important,” she says. Staging two rooms would cost roughly $900 to $1,300 per month.

Closing fees

While buyers cover most closing fees, which amount to about 3 percent to 4 percent of a home’s selling price, sellers typically pay closing fees of 1 percent to 3 percent, in addition to agents’ fees. That’s $3,000 to $9,000 on a $300,000 home. These fees cover expenses like attorney fees, outstanding property taxes and transfer taxes.

How to save. Although it’s customary for sellers to pay a portion of the closing costs, you may have room to negotiate a lower contribution right now because it’s a seller’s market in most cities around the country. Sellers often pay for the buyer’s title insurance policy (called “owner’s title insurance”). That item, usually a onetime expense averaging $850, is something you could ask the buyer to pay for.

If you would rather sell your house the easy way: No commissions, No fees, No repair costs, and you pick the closing date, Contact us today for your free cash offer! 434-390-2906

Moving Out

There are three key factors: How much has to be moved (often measured by weight; a household with lots of big furniture, books and appliances can weigh over 15,000 pounds); the distance of the move; and whether what’s being moved includes fragile valuables. In general, though, the average cost of a basic move ranges from $550 to $2,000 for distances up to 100 miles, with an additional cost of up to $60 per hour for labor and another charge for insurance. A longer-distance move will usually run you between $2,000 and $7,500, according to move.org.

How to save. You can cut out a professional mover altogether by renting a mobile storage container. “It’s delivered to your home, you load it up with your belongings, and the company transports the container to your new home.” One company offering this service, Pods, says most of its local moves cost between $535 and $1,975, while long-distance moves generally cost between $1,535 and $5,475. That includes both the container and moving it to the new location.

About Linken Investments LLC.

Here at Linken Investments, we are cash house buyers. We have been investing in Lynchburg Real Estate since 2007. We’re a family-owned business and focus on helping homeowners like you who need to sell a house fast (especially houses that need work) by buying your house for cash… then we and our local partners fix up the property, beautify the neighborhood, and sell it “move-in” ready to a happy new home owner.

Don’t worry about repairing or cleaning up your property. We’ll buy your house in as-is condition… no matter how ugly or pretty it is… no matter the location. We close fast and pay cash in as little as just 7 days.

Give us a call or text now at 434-390-2906 or fill out the short form below.

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