119. The 4 Most Common Costs When You Sell Your House in Lowell, MA

The 4 Most Common Costs When You Sell Your House in Lowell, MA

Do you plan to sell your house in Lowell, MA and you are not sure whether to do it yourself or use the services of a real estate agent? We are experienced home buyers in Lowell. Selling your home directly to Summit Buys Houses just might save you thousands of dollars in the long run. (But we are a little biased in that regard). Deciding how and when to sell your house is probably one of the biggest decisions you may have to make in your life. Making such important decision requires that you fully understand all that is at stake. In this case, having incomplete or false information may leave you in debt at a period when you may already be suffering from limited funds. By using traditional real estate listings, you are faced with the burden of cleaning your home, prepping for open houses, not knowing when you will close the sale closing, and paying all of charges incurred from selling your house. Read on to see exactly how you may save money when you sell your home.

1. Making Repairs

The last thing you need is to incur extra expenses to make repairs before selling your house. This is usually the case when you use traditional listings. You are saddled with the responsibility of making repairs, even if your house is listed “As-Is.” The costs could really stack up if your house is quite old or has major issues. You could be faced with spending thousands of dollars on repairs depending on the issues detected. There is also the issue of the disclosure laws that comes with possible legal risks. All these additional costs are subsequently deducted from the original purchase price which could potentially leave you distraught and alter your plans for moving on. However, you can save the costs of repairs by listing your house for sale “as-is”. In this case buyers are put on notice that you have no intention of making repairs prior to a sale being agreed upon.

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2. Advertising Costs

You definitely have to market your house —whether you are doing it yourself or employing the services of a qualified real estate agent. Regardless of who is in charge of your marketing plans, you will always be the one that pays. With the advent of some many remodeling shows on television channels like HGTV, the standards buyers have nowadays is quite high. They really want you to add 360-degree view, professional virtual tour footage, and high-grade photos of the house in your advertisements. A lot of agents now include additional costs in the marketing plan to cover for the cost of staging your house to meet up to magazine quality in presentations. This could imply anything from overhauling, to refurbishment and touch-up painting of the house to fit the demands of possible buyers. Also, to be visible in searches on major real estate websites, you will have to pay more.

3. Closing Costs

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Many times, sellers suffer from ‘sticker shock’ when they first see the closing costs on their property. Such charges include agent’s commissions on sale, title protection/ title insurance, expenditure on house taxes, state transfer tax fees and document recording fees which vary based on the written contract and the date the sale was closed. Some fees are usually locked in, while discounts may be given on some services needed to close the transaction. As an example, if you sell a $400,000 house your fees may be in the range of $22,000 to as high as $28,000. Ouch!

4. Holding Costs

There are situations, such as foreclosure, where you may be forced to move before the closing of sale. This could result in having to maintain and pay concurrent bills for two properties. This potential financial catastrophe can cause anxiety. Many times when your buyer has to sell their house before they buy yours, the contracts will contain a clause that you must wait to close a sale until the buyer’s house is sold. This implies that there are no guarantees on your sale. In addition, some buyers may withdraw from a deal with you if they cannot qualify for financing on time.

Conclusion

Imagine a situation where you don’t have to worry about how to fund your living while waiting for marketing, repairs, refurbishing or closing costs. All you need to do is sell to Summit Buys Houses, and our professionals will handle everything for you. You don’t do any repairs or cleaning—simply take what you want and leave everything else behind for us to handle. We give you a written cash offer, and you decide on what day you’d like to close the sale. It honestly is that simple. Check our reviews to see how satisfied others have been with our work. When you calculate all the costs involved in a more traditional sale, then combine it with the uncertainties of how long you will wait, selling your house now in Lowell to Summit Buys Houses for just may be the winning equation! 

Why not place a call to us at (978) 254-3800 or fill in the form below today to know more about what we offer? It’s always 100% free and there is never any obligation to accept our offer.

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