Before selling your house in Omaha or any other city, it’s wise to run all the numbers so you know exactly what to expect! A traditional sale can be quite a bit more costly whereas a direct sale doesn’t include repairs and commission fees. In this blog, we’ll discuss costs and the time frame you can expect when selling your house.
Before thinking through all their options for selling a home, many folks jump into a listing agreement with a real estate agent. Before committing to a traditional agent’s agreement, it’s good to try to estimate how long the preparation and actual sale could realistically take and also what it may cost. It can also be beneficial to consider the various selling options and how they can impact your situation. Keep reading to learn more about how to run the numbers for selling your house in Omaha.
As we all know, repair costs can snowball. A dripping faucet or leaking pipe may seem like a quick fix but could turn out to cause be a bigger job than expected and/or cause long term water damage to the home if not repaired correctly. Sometimes homeowners find once they fix one thing, several more repairs must follow. When putting your house on the MLS in Omaha or any other place, you’ll want to put your best foot forward. This means making any key repairs and being prepared to be faced with a few 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. Which isn’t a bad idea to avoid future surprises!
A lot can go into preparing your house for the MLS. You may choose to remove personal belongings and store them elsewhere, which takes time to do and of course, costs extra money. Or you may want to stage the house by buying a few pieces to make the house look more professionally decorated. You may even go so far as to bring in an actual staging designer to rearrange furniture, artwork, and other decor. It can be lucrative, but unless you have a friend doing it pro bono, you’ll have to pay for the designer’s time and expertise. All these expenses can add up.
If you decide to list your house with a real estate agent, ask them what their marketing plan will be to sell your home. Some agents are full-service, taking professional photos, developing beautifully glossy handouts, while others will simply put your house on the MLS and that’s it. Many homeowners find themselves paying for premium listings, professional photography, and other marketing materials, so be sure to factor these likely costs in before you put it on the market.
Do you have a good monthly financial picture of now how much it costs to actually own your home? Remembering the mortgage payment each month is easy to do! But also take into account the utility bills, property taxes, and monthly maintenance expenses like lawn mowing and snow removal. To end your holding costs sooner than later, you may want to consider a direct sale of your house in Omaha. Selling in days, not months, has the potential to save you thousands of dollars that you would have otherwise spent on the home. With a direct sale, the investor home buyer is usually happy to buy your house As-Is – so no repairs are needed and you can be done with the other holding costs as well.
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 pay about $15k plus any other fees or reimbursements to your agent. This is just something to factor in when you run the numbers for a clear picture of what it will cost you and what you’ll walk away with from the sale.
Closing costs for a property seller will typically run anywhere from 1-3% of the final sale price. So again, if your house sells for $250k, you’ll likely be spending another $2,500-$7,500 once you reach the closing table. With a direct sale to Anna Buys Houses or another direct home buyer, you won’t have to worry closing costs. Professional home buying companies typically handle closing costs for you, so you save these costs and move on!
When deciding whether to list your house with an Omaha real estate agent, sell it to a professional home buying company, or sell it on your own, it’s important to have a realistic grasp on real costs. Remember to factor in all of the costs you’ll incur. For some houses, listing them on the MLS can be the best option and makes 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 unique property and your own situation to determine which selling method will be the best for you!