There are many great Austin area homes for sale. Click here to perform a full home search, or if you’re thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today’s market. You may also call me at (512) 794-6644 for a FREE home buying or selling consultation to answer any of your real estate questions.
As spring approaches here in Austin and the sellers start to list their homes for sale, I’ve been getting a lot of questions in regard to the home selling process.
What are my selling costs?
- First you have to consider closing costs on the seller’s side, which would be commission, which is usually around 6% split between the agents on both sides.
- There is a title policy that the seller has to pay, which is usually 3/4 of a percent of whatever the negotiated sales price is.
- One half of a percent goes to miscellaneous fees like the filing of a deed, the taxes, paying off loans, overnight mailing, etc.
All of these costs will usually round up to 7.5% of your selling cost. So, to find an average selling cost you only need to take the price of your property, and then multiply it by 7.5% and you would have your total selling costs. 7.5% is a bit on the high side, but I tell my clients to estimate high to avoid any surprises.
One thing to keep in mind is to have an agent explain all of these costs to you so you’re not shocked right at the end of the selling process. There are many things that nobody thinks about, but you will have to end up footing the bill.
There are a few other miscellaneous charges, like if the buyer wants you to pay the closing costs, if you offer the buyer a home warranty, and also personal costs like hiring movers and buying storage units.
Keep in mind that there is a sliding scale depending on the agent. I have a sliding scale on my commissions, but you can visit my website to learn more about that.
If you need help buying or selling real estate in Austin, then please call me at (512) 794-6644 or email me at KathleenBucher@mac.com