Ready to sell your house and move on to your next chapter? Are you wondering how much it costs to sell a house? Some sellers might not realize the amount of money they lay out into their home sale until the closing statement lands on their lap. In order to figure out the most profitable way to sell your house, it is essential to understand the factors that influence your selling expenses. It is the attention to detail that makes a big win. When you are aware of what you are potentially pouring your money into, you are well-equipped to plan ahead and make the best decision to meet your home-selling goals.
Monthly Expenses
While your house is on the market, the recurring monthly utilities and other expenses such as mortgage payments, taxes, homeowner insurance, HOA fees, and maintenance continue to roll in. These costs are cumulatively known as holding costs and they remain your responsibility until the property is sold. Take into account these holding costs when you run the numbers when selling your house in Portland as they can affect your bottom line. For example, the longer the house is on the market, the more money you will need to expend paying for these holding costs.
Working with a real estate agent means that you need to include all of the aforementioned expenses for (at least) the average time their listings are on the Portland MLS.
On the other hand, working with a professional real estage investor who understands that time equals money means you can skip the waiting. They have cash in hand and can guarantee an extremely speedy closing, in many cases as little as seven days.
Repair Costs
Unless your house is brand new, it will most likely need a range of repairs and upgrades in order to make it more appealing to potential buyers. A professional inspector may find nasty and expensive issues that you didn’t know about during an inspection – this is one of the main reasons why you should know how to run the numbers when selling your house in Portland.
Working with a real estate agent means being proactive with repairs in order to get the best possible offer on your home. You would either perform the repairs before the sale is closed or offer repair credits to the buyer. Neglecting necessary improvements to your property could make it difficult to find a buyer. Many homes that need work when listed on the Portland real estate market generally receive extremely low offers.
One option to minimize your selling costs is to work with a professional real estate investor whereby you are selling “as-is”. When a property is sold “as-is,” the buyer, in this case the investor, understands that the seller will not spend any additional money on repairs or improvements. The buyer agrees to purchase the house in its current condition with all of its flaws.
Commissions
When selling your house in Portland, it is crucial to understand how much you will pay in commissions and other brokers fees so that you know exactly how much money you should expect at closing.
If you decide to work with a real estate agent, you will likely be paying around 6% of the total sales price in commissions. It will be one of your biggest selling expenses that you will pay out of the sale proceeds at closing. Don’t forget there are other standard costs associated with closing the deal such as closing fee, title and escrow fee to name a few.
On the other hand, working with a professional investor means that you can save money by skipping all of the red tapes, commissions, and fees. Keep in mind all of these figures in your calculation when considering an offer.
Decide
Will listing your Portland, OR home be worth it? There is only one way to find out – by adding up all of the determining factors. Gather all of the estimates and run your numbers to get a clear picture of your bottom line. From here, you can play around with the cost structures and compare both scenarios. Set a goal and decide what is important to you.
Some sellers who have the extra time, energy, and finances are comfortable with waiting and making upgrades to maximize their profit so they decide to work with a real estate agent.
Others would like to sell their home fast so they opt to work with a professional investor. It removes all uncertainties – no waiting for potential buyers, no guessing about what the inspector will find, and no upfront expenses for repairs. Not to mention, they don’t have to concern themselves with the headaches of keeping the house in tip-top condition for showings.
Choose what’s best for you! The professional hybrid agent investors at SCAL Real Estate LLC can offer you BOTH options. At SCAL Real Estate LLC, we will run the numbers and go through everything in detail. We, SCAL Real Estate LLC, strive to inform you of every step of the process with complete transparency. At SCAL Real Estate LLC, our job is to make sure you feel 100% confident in your decision when selling your house in Portland. Contact SCAL Real Estate LLC at (971) 238-2255 today!