Will selling cost you money? Many people list their house, not taking into account what it will actually cost them. There are fees and expenses you should be aware of before you list with an agent. In our latest post, we will let you know what costs to expect when selling a home in Kansas City!
Have you decided to sell your house in Kansas City? There are many things to consider before you decide how to sell! Keep in mind, listing your house will cost you money both up-front and once the property closes. You must factor this in when pricing your house and deciding who you want to work with.
Studies show that the average amount it takes to sell a house in the US is $15,200! That’s a lot of money! Keep in mind, that number varies widely based on where you live and the price of your home.
Will Selling Cost You Money in Kansas City?
Agent Commissions – Commissions will typically run about 6% of the final sale price of the home. You will know the agent’s cut when you sign your listing agreement. While this money isn’t paid upfront, it is deducted from the amount you walk away with. Keep this in mind when pricing your home.
Agent Fees – Depending on the agency, there might be additional fees charged throughout the selling process. Some agents will pass on marketing and listing fees directly to their clients. Make sure you know what’s included and what you will have to pay for when all is said and done.
Understanding Closing Costs in Kansas City – When purchasing a property in Kansas City, it’s important to factor in various closing costs. These expenses encompass transfer fees, title insurance, title search fees, recording fees, transfer taxes, appraisal costs, discount points, credit report fees, and more. On average, buyers should budget around 2% of the property’s final sale price for closing costs.
Taxes – When selling your home in Kansas City, MO, you will be accountable for property taxes, utilities, and homeowners insurance until the closing day. These expenses could accumulate to thousands, especially if the selling process takes several months. Promptly selling your property is crucial to minimize these costs and maximize your profits!
Getting Your Home Ready to Sell in Kansas City – Selling a house involves a significant amount of effort, time, and investment. Tasks include making necessary repairs, applying fresh paint, and ensuring clean carpets. Depersonalizing the space and setting up staging can enhance its appeal to potential buyers. Whether opting for professional assistance or handling it independently, you may need to invest in new decor items. Additionally, enhancing the outdoor space with landscaping improvements can boost the property’s curb appeal.
Inspections – While it’s not mandatory, an increasing number of sellers in Kansas City are opting to conduct pre-listing inspections for their homes. Typically costing around $200 and up, this proactive approach allows sellers to identify and address any potential issues before they arise during the buyer’s inspection. Moreover, pre-listing inspections can provide sellers with additional leverage during negotiations in the selling process.
Storage and Moving – When preparing to sell your home in Kansas City, MO ([market_zip]), it’s important to factor in the costs associated with storage and moving. While moving expenses may not be directly related to the selling process, they are significant and cannot be overlooked. Whether you opt for professional movers or decide to handle the move yourself, the costs can add up quickly. Consider the distance of your move, the need for a moving truck, and any additional expenses such as treating your friends to pizza for their help. If you are still residing in the property while it’s on the market, you may also need to budget for storage fees. Decluttering and packing away unnecessary items in advance not only helps improve the appearance of your home but also gives you a head start when the time comes to relocate.