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A Breakdown of Fees for Homeowners Listing Their Homes in Raleigh

A Breakdown of Fees for Homeowners Listing Their Homes in Raleigh

There are far more expenses involved in listing a home in Raleigh than most homeowners realize. Having realistic expectations about actual listing costs allows homeowners to prepare themselves financially. Many times homeowners underestimate the cost of listing and selling a home and run out of money in the middle of the process.

Read on as we explore a breakdown of fees for homeowners listing their homes in Raleigh.

Will I Have To Make Repairs When Listing My Home?

When a homeowner decides to list their home in Raleigh the opportunity to make repairs are before listing, and during the due diligence period. The overall appearance of your home and its curb appeal will affect how fast the home will sell as well as the offer price. Therefore you should do a thorough inspection of your home before listing it on the market.

The due diligence period is when the buyer sends in a professional home inspector and they return a laundry list of repair items both big and small. As professional home buyers Wake County Home Buyers is very familiar with the expenses associated with repairs. Generally, repairs will cost in the thousands up to the tens of thousands.

Now, if your home is newer, let’s say built after 2010, this may not be of much concern. The only exception would be the HVAC unit, and some exterior items such as gutters, etc. Getting your HVAC unit serviced before listing your home for sale is a good idea. However, with older homes, each passing day brings the potential for new and expensive discoveries that could lead to major repairs. This is usually the case with homes built prior to 1990. There is no other way to make an educated decision than to have all of the facts. This is why working with local cash home buyers like those at Wake County Home Buyers means you’ll have a complete accounting of how much it will cost to list and sell on the traditional market vs. a direct sale? 

Agent Fees and Commissions

Real estate agent commissions are one of the largest fees for homeowners listing their homes in Raleigh. Typically around six percent of the value, your home sells for will be paid out in commissions, split between the listing agent and the buyer’s agent. As home prices continue to rise, As of February 2022 the median home price in Wake County is $435,000. This would equal $26,100 assuming a 6% brokerage commission.

Keep in mind that many agents will charge fees in addition to the commission. Always ask about brokerage commissions AND fees. Some agents will charge document fees, transaction fees, etc.

Closing Costs When Selling Your Home

When homeowners are listing their homes in Raleigh, don’t forget to add in the fees for the closing costs. Typical closing costs in Wake County are as follows:

Attorney Fees

Settlement Fees

Document Fees

Recording Fees

Wire Fees (If wiring money your bank will charge you an additional fee)

The fees listed above can total anywhere from $2,000 – $3,000

Revenue Stamps (Purchase Price divided by 500)

E.g. $435,000 (sales price) divided by 500 = $870

Prorated Property Taxes (Your property taxes are prorated based on the days you owned the home.

All these fees will be itemized on an ALTA or HUD statement at closing.

Prepping Your Home For Sale

For homeowners listing their homes in Raleigh, another expense you must account for is preparing the house before listing. This is usually any storage units that are rented to store excess personal items. Also, these may be cleaning fees, air freshener, etc.

Marketing Costs When Selling Your Home

Real estate marketing fees for homeowners listing in Raleigh will also include professional digital photography and a 360-degree tour for most homes. Providing less than the best digital imagery in your listing can result in a poor response from your potential buyer pool. Tech-savvy buyers scroll by most listings that don’t immediately present well. A problem with your listing can cause your home to linger on the market, meaning you are more likely to realize a lower final sales price.

Staging

Professional staging has become a standard for homeowners listing their homes in Raleigh, adding to the fees. This is especially true when the home is vacant because statistics have shown that good staging helps a house sell faster and for more money. Staging fees, as of this writing, can be anywhere from $700 – $2500 depending on the size of the house.

Holding Costs

Among the costs that aren’t obvious for homeowners listing their homes in Raleigh is the expense of holding the property month after month. These fees include property taxes, insurance, utilities, loan interest, etc. As each month passes, the continued expenses associated with the property begin to deplete the profits, especially if something else should suddenly need to be repaired.

Timing

Another fee for homeowners listing their homes in Raleigh may be the expense of moving into temporary housing until your final destination is ready, which can be pretty expensive. You won’t need to worry about prepping, showings, or repairs if you work with a direct buyer from Wake County Home Buyers, we buy homes as-is for cash, so the closing can be fast if you’re under a time crunch. Not in a hurry? Then you can relax, Wake County Home Buyers has the flexibility to set the closing at a date convenient to you.

Why not sell directly to Wake County Home Buyers and sell your home without paying any out-of-pocket expenses upfront. The professional investors at Wake County Home Buyers work every day to help homeowners, and we never charge homeowners commissions, closing costs, or any hidden fees for listing their homes in Raleigh. Call Wake County Home Buyers at (919) 473-6885.

Click here to learn more about how we buy houses fast in Raleigh and surrounding areas! Also, check out our YouTube channel to get to know more about us!

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