If you’re thinking of selling your home, you may be expecting that your net profit will equal your estimated home sale price minus the balance due on your mortgage statement. However, most home sellers need to invest some money in home improvements to enhance their home’s appearance and appeal before they put their home on the market. Careful spending on the marketing of your home can result in a higher profit.
You can reduce your costs of preparing your home to sell and boost your bottom line profits with a little creativity and comparison shopping beforehand.
Preparing Your Home to Sell
Before you list your home for sale, you’ll need to spend some time and money getting your home in pristine, buyer-friendly condition so you can get the highest possible purchase price. Iron Country Realty’s experienced and professional REALTORS® can advise you on the most cost-effective home improvements to maximize your home’s sale price.
Simple, inexpensive tasks like getting rid of clutter, organizing your closets, paring down your personal photos and a thorough home cleaning will increase your home’s appeal to buyers. Replacing cabinet knobs and light bulbs can make your home look cleaner and fresher with a minimal cash outlay.
Tips for Reducing Home Sale Closing Costs
Another thing to think about is how to keep your closing costs as low as possible. While home buyers often pay most of the closing costs, this is negotiable.
Home sellers usually pay the sales commission for the real estate agents involved in the transaction. These commissions are negotiable. Typical real estate sales commissions can go as high as 6% of the home sale price. As a seller, you can negotiate the commission with your listing agent, but remember that working with a knowledgeable REALTOR® can increase the sale price of your home and your ultimate profit.
Other typical home seller closing costs may include paying off your loan balance, any unpaid property taxes and outstanding homeowner association dues. None of these fees are negotiable. Depending on whether you hire your own attorney and on the local practices in your market, you may need to pay an attorney’s fee, transfer taxes and a title insurance premium.
Your experienced Iron Country Realty REALTORS® can help you get an estimate of your home sale costs and determine if any of those fees can be reduced or negotiated.
Call Iron Country Realty Today: (218) 254-7101
We will be happy to provide you with a competitive local real estate market analysis and assist with all your real estate selling or home buying needs.