Selling your house in Kalamazoo? It is critical you understand the numbers so you know exactly what to expect! A traditional sale can cost a fortune versus a direct sale with a local home buyer. In this blog, we discuss the costs and timeframe you can expect when selling your house in Kalamazoo.
Many people will blindly jump into a listing agreement with a Kalamazoo real estate agent without first considering how the process will play out. Before signing an agreement or deciding how you want to sell your house in Kalamazoo, you should try to estimate how long it will take and the overall costs. You should also consider multiple selling methods and how they will impact your situation. Keep reading to learn more about running the numbers for selling your house in Kalamazoo.
Repair Costs
The trouble with repair costs is that they can tend to snowball. A leaking pipe that seems like a quick fix may be the source of major water damage to the home. Many homeowners find that once they fix one thing, several more repairs will follow. When putting your house on the MLS in Kalamazoo, you will want to put your best foot forward. This means making repairs and preparing to be faced with more after the inspection. Potential buyers will often try to negotiate after the appraisal and inspection process, leading to additional costs to the sellers before finalizing the sale. Some sellers will pay for an inspection on their own before listing so they know exactly what to expect as far as repairs.
Preparation Costs
A lot can go into preparing your house for the MLS in Kalamazoo. You may choose to remove personal belongings and put them in storage. You may want to stage the house adding in some pieces here and there to make the house look professionally decorated. Some sellers even go as far as bringing in an actual designer to make the house look as warm and welcoming as possible. No matter how great your house is currently you will likely find yourself doing some work to make it even better when preparing to put it on the market.
Marketing Costs
If you decide to list your house with a real estate agent in Kalamazoo, make sure you know which types of marketing will be used to sell your home. Some agents offer full service pulling out all the bells and whistles to market your home. Others may simply put your house on the MLS and just hope that buyers come along with limited work towards the marketing. Many homeowners find themselves paying for premium listings, professional photography, and other marketing materials.
Holding Costs
Do you know how much it costs to own your home? Not only are you likely paying a mortgage each month, but you should also account for the utility bills, repairs costs, and the usual maintenance expenses. Ask any real estate investor and they will tell you that the longer you own a house, the more it is costing you. To end your holding costs right away, consider a direct sale of your house in Kalamazoo. Selling in days not months has the potential to save you thousands of dollars that you would have otherwise spent on the home.
Agent Commissions and Costs
Your agent’s commission will be somewhere around 6% of your final sale price. For example, let’s say your house sells for $250k. You will immediately be out about $15k plus any other fees or reimbursements due to your agent. When you include this hefty amount with all the other costs and fees you will likely face, you may find that a direct sale will be a better way for you to sell.
Closing Costs
Closing costs for a property seller will usually run anywhere from 1-3% of the final sale price. So again, if your house sells for $250k, you will likely be spending another $2,500-$7,500 once you reach the final closing. With a direct sale to Ryan Buys Houses, you won’t have to worry about the closing costs. We will handle everything so you can sell your house fast and move on.
When deciding whether to list your house with a Kalamazoo real estate agent or sell it on your own, it’s important to have a realistic grasp on what everything is really going to cost you. Don’t just rely on your estimated final sale price to tell you which way to sell. You must factor in all of the costs you will face as part of the selling process. Putting your house on the MLS can be expensive. However, for some homes it makes the most sense. For other properties, a direct sale will ultimately help the seller keep more money in their pocket while saving time and energy. It’s important to look at your property and your situation to determine which selling method will be the best for you!
Selling your house in Kalamazoo can be a fair and simple process! Contact us today to learn more about what we can offer you! (269) 775-4095
