Selling your house in San Antonio? Make sure you run the numbers so you know exactly what to expect! A traditional sale costs a lot more than you think and you don’t want to end up with a shock at the end! If you choose a direct sale it usually won’t cost you anything and can end up saving you time and money. In this blog, we discuss the costs and timeframe you can expect when selling your house in San Antonio!
Many people will blindly jump into a listing agreement with a San Antonio 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 San Antonio, you should try to estimate how long it will take and what it will cost you. You should also consider multiple selling methods and how they will impact your situation. Every situation is different and you want to learn as much as you can about running the numbers so that you make the best choice for you when selling your house in San Antonio.
Repair Costs
The trouble with repair costs is that they can tend to snowball. A leaking pipe that seems like a quick fix, may actually 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 San Antonio, you’ll want to put your best foot forward. This means making and noticeable repairs and preparing to be faced with more after the inspection. Potential buyers will often try to negotiate after the appraisal and inspection process, forcing the seller to cough up even more cash. Some sellers will pay for an inspection on their own before listing so they know exactly what they are getting into.
When you have a property that you know needs extensive repairs or needs to be completely updated then you can often come out ahead by selling as-is. By the time you add up all of the repair costs, the holding costs, and your time, you may find that you would come out better if you sold the house that needs repairs directly to a cash buyer sooner rather than later.
Preparation Costs
A lot can go into preparing your house for the MLS in San Antonio. You may choose to remove personal belongings and store them elsewhere. Or you may want to stage the house, adding in some pieces here and there to make the house look professionally decorated. You may even go so far as to bring in an actual designer to make the house look as warm and welcoming as possible. Any house that has been lived in is probably not show room ready and no matter how great your house currently is, you will likely find yourself doing some work to make it even better.
Marketing Costs
If you decide to list your house with a real estate agent in San Antonio, make sure you know which types of marketing will be used to sell your home. Some agents all full-service, pulling out all the bells and whistles, while others will simply put your house on the MLS, hoping for a buyer to come along. Many homeowners find themselves paying for premium listings, professional photography, and other marketing materials.
At a minimum you should plan to have professional photos done of the home. Most home buyers start their search online and that means that they are looking at your pictures for that all important first impression.
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. Time is money. How much do you really spend on your house each month? Add up the mortgage payment, taxes, insurance, electricity, water, maintenance, cable, internet, etc. The list can quickly add up to thousands every month!
To end your holding costs right away, consider a direct sale of your house in San Antonio. 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. So 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. This does not include closing costs or any seller’s commissions. This is a hefty amount when added with all the other costs and fees you will likely face, you want to factor this in when you are deciding if a direct sale might be a better way for you to sell.
Closing Costs
Closing costs for a property seller will usually run anywhere from 2-4% of the final sale price. So again, if your house sells for $250k, you will likely be spending another $5,000-$10,000 once you reach the closing table. With a direct sale to Sell My San Antonio House, 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 San Antonio 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 too. Putting your house on the MLS can be expensive. However, for some houses, 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!