Last month Burchard Abstract presented you with some of the expenses involved in buying a house. This time, they bring you the costs in selling a house. Because dealing with real estate involves spending from both of the parties involved. So if you’re considering selling your house and don’t know what expenses that entails, this post my help you out. Repairs and Renovations As a client you want a good quality product, and as a seller you need to provide one. No one is going to want to buy a place with cracking paint on the walls, leaking faucets, and overall bad appearance. In order to have a successful sale, you need to invest in making your house look better. Walk around your house making a list of noticeable problem areas like cracks in the walls and ceilings, chipped paint, rotting wood, leaking roof, any possible detail that you wouldn’t want to see as a buyer. It might be possible that you’ll need to hire a contractor if your house needs some serious maintenance work. Remember that potential buyers will most likely hire a home inspector so you better look for a contractor that will do an excellent job. Don’t just go for the cheap option. If the house needs major repairs, you should lower your asking price or negotiate it into the contract. As for renovations, small things can make the place look so much better. Curb appeal is very important, after all it’s the first thing people see. Inside of your home you could change your faucets, pass a fresh coat of paint on the walls, or hire a professional carpet cleaning service. You don’t have to spend a lot to make your house look appealing. Real Estate Agent You’ll probably be using a real estate agent’s help to make the sell. Agents usually charge 5% to 6% of the home final purchase price when the deal is closed. You can try to negotiate the commission fees, many agents are willing to accept a lower flat rate. Shop around before you settle for an agent. Title Insurance Title insurance protects the buyer and their loaner in case there’s an issue with the home’s ownership history. Buyers have to purchase the lender’s title policy, but you don’t need to worry about that. If you bought the house within the last three to five years, you may be able to request a reissue rate from the title insurance company. Discounts vary by state. The title insurance company will run a title search on the property while the sale is in process. If any liens are found they need to be settled before the sale is complete. If you need a trusty title insurance company in San Marcos, Burchard Abstract Company is who you should call. They will guide you and the buyer through the whole process so you can complete your sale. You can call them at (830) 672-8651 when you’re ready. Home Warranty If your house is a bit older, you might want to offer your buyer a home warranty that will cover repair costs if a major system or appliance breaks down on the first year of ownership. A one-year warranty usually costs around $350 to $500. Taxes A part of your sale needs to go to property taxes. Sometimes it won’t amount to much, if you’ve recently paid your taxes, or it could be thousands of dollars if the due date is close by. Some states require that you pay transfer taxes so you can transfer your title to another person. It’s a small percentage of the sale price, generally 0.01% to 2%, depending on the state. Professional Photography Many buyers start their search online. Their decision to go see a house depends mostly on the photographs posted on the site. A professional photographer knows which photos work best to attract potential clients. Of course it would be cheaper to let your agent take pictures. Look at their previous listings and the photos they’ve taken before you make a decision. Moving and Utilities You will be spending money when you make your move. Whether you're spending money on a moving company, or using your friends' cars, there are some expenses involved. If you moved to a new house already and your old house is left unused waiting for a sale, you still have to keep up with your electricity payments. No buyer wants to walk in to a pitch dark house. Title Insurance in San Marcos Title insurance is a necessity for many buyers and many times it's your job as a seller to pay for it.  Talk to the buyer to see if you can come to an agreement and when you're ready to buy title insurance for your house in San Marcos, call Burchard Abstract Company at: (830) 672-8651. ...read more