Discovering the potential costs to expect with a traditional sale of your Indianapolis home is essential. Dive into our latest post to determine if partnering with an agent aligns with your situation and property!
Opting for a real estate agent in Indianapolis to sell your house may not always be the most beneficial choice. When you consider the expenses, time, and effort you need to invest, you might conclude that an alternative selling method suits you better. Here, we outline five significant costs to expect with a traditional sale of your house.
Repairs
One cost to expect with a traditional sale of your house is repairs. After listing the house and receiving an eventual offer, your potential buyer will arrange for a property inspection, at their own expense. If everything is in order, fantastic! However, frequently, the buyer’s home inspector will identify repair needs, and buyers will ask for a credit or request you to fix the items before the property finalizes its sale. It’s rare that inspectors find no issues or that buyers request nothing to be corrected, so this is definitely a cost to expect with a traditional sale of your property. The quick fixes around your home can accumulate quickly and worse, if your home requires significant repairs the expenses can increase substantially.
Professional Cleaning
When you’re listing your house for sale on the MLS in Indianapolis, it’s crucial to present it in the best possible way. Even if you’re exceptionally neat, you might consider bringing in a professional cleaning crew to ensure everything looks top-notch. Alternatively, you might need individuals to clean carpets, powerwash the exterior, or restore stained floor tiles. Even if you don’t hire professionals, you’ll still need to manage these tasks independently, which demands your valuable time. Time is, in itself, highly valuable. So, while paying to clean your house may not be top of mind it’s a cost to expect with a traditional sale.
Marketing Fees
The extent of marketing services offered by a real estate agent in Indianapolis can differ. Some may present comprehensive marketing plans at no charge, while others might offer only the basics. You’ve encountered various listing types. Some homes are showcased with professionally staged photos, creating an illusion of more spacious rooms. On the other hand, there are listings with pictures taken by a cell phone camera, highlighting unmade beds and laundry on the floor. Opting for top-of-the-line listings that attract the most attention may entail additional costs in the long run. If you choose to list your house in Indianapolis, ensure you have a clear understanding of the inclusions. From exclusive listings and signage to print materials, there might be several unexpected expenses.
Commissions
One of the costs you can always expect with a traditional sale of your house is agent commissions. In certain situations, collaborating with a real estate agent in Indianapolis can be beneficial, justifying their commission fee which can range as high 7% or more of your house’s sales price. However, for other properties, paying this amount to sell your house might not be the best option. Seven percent of your final sale price can amount to a substantial sum of money. It’s essential to ensure that your agent can secure enough money in the sale price of your house to justify this significant cost. Before signing a listing agreement with a Indianapolis real estate agent, run the numbers and assess whether it makes sense. For some Indianapolis homeowners, opting for a direct sale could present a more favorable choice for selling their unwanted house.
Closing Costs
One of the last costs to expect with a traditional sale of your property is closing costs. When selling a home in Indianapolis with a real estate agent, a home seller will almost always incur closing costs, amounting to 1-3% of their final sale price. Expenses such as recording fees, settlement fees, title search fees, surveys, and pre-payment penalties are all paid during the closing process. However, when working with a Indianapolis cash home buyer like 317 Home Buyers, these costs are eliminated because we pay all of the closing costs when we buy your house.