Do you know how much it costs to sell your house in Massachusetts? If you are considering selling your home, you really want to start the process knowing all the costs that will be involved. This is the best way to plan how much profit you can make, and not suffer from “sticker shock” at the closing! We are homebuyers in Massachusetts and can offer you a profitable and stress-free solution when you decide to sell your house
If you plan to work with a real estate agent, there can be a large number of costs that home sellers aren’t always aware of. Before signing a listing agreement with a Massachusetts real estate agent, make sure you are aware of the costs you will likely face!
Many people aren’t prepared for what is required of them when trying to sell a house with a Massachusetts real estate agent. There are numerous costs, time commitments, and exhausting activities that go into selling your house in this more “traditional” way. Below, we will take a look at what it costs to sell your house with an agent in Massachusetts, versus what it costs to sell your house directly to a professional buyer. You can always get a free cash offer from our team—there is no cost or obligation. This way, you can plug in the numbers for your property, and determine exactly which way of selling your house in Massachusetts will be most profitable for you!
Hiring An Agent In Massachusetts
Cost #1. Commissions
Here’s the sticker shock item! When you hire a real estate agent in Massachusetts to help you sell your house, you’ll be faced with commission costs when the house does eventually sell. These costs can be a huge blow to a seller’s profits because the average real estate commission runs somewhere around 6% of the final sale price. So let’s say you agree to sell your house for $400,000. At the closing you’ll have to immediately pay out $24,000 to your agent! (and that’s not including all of the other costs and fees.)
Cost # 2. Closing Costs
Even with all the houses we’ve sold, I can still be caught off guard by how many closing costs are deducted at the sale! Closing costs include things like transfer taxes, recording fees, and other miscellaneous costs. When you work with an agent to sell your house in Massachusetts, you can expect to spend about 2% of the final sale price in closing costs. So again, if your house sells for $400,000, you’ll be on the hook for another $8,000. To determine how you profit the most in the end, you have to include those costs. One note to consider—when you sell your house directly to Summit Buys Houses, we’ll take care of all the closing costs, eliminating many of the fees and expenses that a home seller like normally pay out.
Cost #3. Repairs
Depending on the current condition of your property, your repair costs can total up to a small fortune. In order to compete in a competitive market like we have now, you may find yourself making repairs before you list it. Sometimes “minor” repairs can snowball into major expenses i.e., did you know that water leak created mold in the wall? In many cases, you may find that you have to make even more repairs after the inspection period.
Most home buyerswill come back to you and try to renegotiate after their home inspector has been through your house with a fine-tooth comb. Usually they’ll ask you to make the needed repairs, or have you lower the purchase price by issuing credit or discount on the price of the home.
Cost #4. Holding Costs
Many people don’t realize how much it costs to own a home. As a homeowner, you are dealing with things like property taxes, homeowners insurance, and utility bills. The bills can get pretty high if your home is older, and not energy-efficient. You’ll also have to contend with the continued maintenance, repair costs, and the expenses required to keep the house ready for property showings. If your house sits on the MLS for a long time, your holding costs can really add up! But when you sell your house directly to Summit Buys Houses, we will be able to close on your property, free and clear, in only a matter of days.
Cost #5. Marketing Expenses
Marketing costs when selling your house the traditional way are no joke. Depending on your agent, you may find you are spending a lot of money to market the house on your own. You may need premium listings, professional signage, or photography in order to showcase your property in its best light. Don’t assume that because you hire an agent all of your marketing costs will be covered. Every agent is different and you may wind up spending more than you think to sell your house fast in Lowell.
Will You Keep More of Your Money by Selling Your House Directly?
On the other hand, selling your house directly to Summit Buys Houses, won’t cost you a thing. While not every buyer works in the same way, selling your house to our team will free you of any costs or fees. You won’t have to worry about making repairs, cleaning up, or having to wait around for a buyer to come along. There are no commissions, agent fees, or marketing costs. You will be able to sell your house fast in Massachusetts free and clear, once and for all!
Before you make your final choice to sell your house in Massachusetts, you need to know exactly what it will cost you—all the way through the 3-4 month process. Many home sellers are blindsided by costs and fees they weren’t expecting when they work with a local real estate agent. Before you sign a listing agreement, take a look at what we can do for you. A direct sale may be the solution you need for your house in Massachusetts! However, you never know for sure unless you get a no-obligation offer from our team—it’s 100% free!