Costs of Selling
One of the most frequently asked questions I get – How much will it cost to sell my home?
Here's the answer: On average, selling your home will cost you around 10% of your home’s sale price. In addition to any market-ready expenses, here are 3 C’s to keep in mind if you're thinking about selling:
• Concessions (1-2%):
Although less frequent recently, sometimes sellers agree to pay a portion of the closing costs in order to seal a sweet deal. It's a good idea to set aside 1-2% of your home’s sale price just in case this comes up.
• Commissions (5-6%):
On average, sellers pay 5–6% of the sale price as commission fees. For a $200,000 home, you’d pay $10,000-12,000, divided between your listing and buyer’s agent.
• Capital gains (varies):
If you’ve lived in your home for less than a year, The capital gains tax is a tax on the profit you make from selling an asset, including real estate. Make less than $250,000 profit? You're in the clear.
Wanna talk more about selling your home in 2022? Send me a DM, and I’ll be in touch.