Do you plan to list a Wichita house? There are costs that will arise before you list, during the listing, once you have an offer and when you get to the closing table. In this post, we will look at some of these listing costs so you can decide if a direct sale of the property would be a better choice for you.
The price to sell a house in Wichita can vary greatly. It comes down to the home, the repairs that are needed, the location, etc. Different agents will work a little bit differently. Some will charge you for things, while others are “all-inclusive.” Before you sign an agreement, find out what listing your house in Wichita will really cost you!
Before you list your property or talk to an agent, there will be some things that you will need to take care of. You can do some yourself, and others you will have to pay for. You might not need all of these things, but they are all important to take a look at.
You will want to make sure that the house is clean, in order to create a home that is appealing and welcoming. This is a job you can likely do yourself, but bringing in a professional to do a thorough cleaning of the house can make a big difference. Be sure to get the carpets professionally cleaned if you are not having them replaced. Don’t forget about the outside. Having a professional clean those second story windows will pay off.
While you’re cleaning, pack away those unnecessary items. People checking out your home don’t want to see personal possessions or clutter. Offsite storage spaces are great options for this time before you move into a new house.
Repairs & Upgrades
If anything is broken or worn, you will want to fix it up. This includes fixing and painting walls, replacing cracked tiles and smoothing floorboards. Making minor upgrades to fixtures and hardware is a good idea too. Spending money on these things can help improve the value of your home. You just need to be comfortable paying up front.
You can’t have a beautiful listing with an ugly yard. The front yard is the first thing people see. This should not only be cleaned up but also used to showcase your home. Many people will add plants, flowers, new doors or fencing to make their curb appeal pop.
While The House Is Listed
While the property is on the market, you will still find yourself paying to have it for sale. There are many expenses you will be paying during this time that you could avoid with a fast and direct sale upfront.
While you wait on the house to sell you will still need to pay for the utilities. Even if it is vacant, water and electricity will need to be on for people viewing the home. Homeowner’s insurance and property taxes will also have to be paid, right up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.
Some agents will include great marketing, while others will not. To successfully list your house, you will want to ensure there are great listings and great photography of the home. Some people are even hiring drone photographers to capture their homes from above.
After An Offer Has Been Made
Once an offer has been made, and accepted, you will still be responsible for the insurance, utilities, and taxes up until the day of closing. Depending on the lender this could add several weeks to your timeframe. In turn, adding more money you are paying to own the home. Most offers are contingent on an inspection and appraisal process. You can avoid the below costs with a direct offer from a company who purchases as-is.
Once the inspection has been completed, you might have to negotiate repairs based on the severity. If there is a major problem with the house, the potential buyer will likely request it be fixed before going through with the sale. (The bank isn’t likely to fund a loan for a damaged property either.) If your buyer decides to rescind the offer, you will need to disclose the needed repair to all potential buyers going forward.
At The Closing Table
Once you are signing final sale paperwork, it is also time to sign over a check to your agent. This will typically run about 6% of the final sale price of the home.
Many additional fees are lumped together as closing costs. These include document filing, title search fees, credit check costs, transfer taxes, property taxes and more. On average, this will run you another 2% of your final sale price.
Once you add up all the costs, you can see that listing may not be right for every property. Many people find greater benefits by choosing a direct sale! Run the numbers for yourself, and make the decision that works best for you!