The bottom line profits when you sell your house will depend on what it costs you to go through the sales process. Some expenses are more obvious than others.

Benbrook TX – Sell Your House Fast: The cost of selling a house can be expensive. Depending on the circumstances and how you decide to market the house, it can cost quite a bit or at least enough to affect your bottom line profit once the house is sold. If you have equity left in your house, you’ll want to retain as much as possible of that profit. If your current market value is less than what you owe, you must also spend as little as possible in the sale process so that you have something left to pay off the mortgage.

The cost of selling a house can be expensive. Depending on the circumstances and how you decide to market the house, it can cost quite a bit or at least enough to affect your bottom line profit once the house is sold. If you have equity left in your house, you’ll want to retain as much as possible of that profit.

The actual costs of selling your house may surprise you. There are the obvious expenses like ads in the papers and online, commission if someone helps to sell the house, and any taxes or closing costs you owe before turning over the keys to the new owner. Less known expenses include appraisals if you need them, inspections, pest control tenting if bug infestation is found, and the costs of repairs that the buyer might want to have done before they take possession of the house.

Now for the surprises that can tend to blind side home owners trying to sell. Don’t forget that you must continue to pay the mortgage and taxes, as well as insurance, for as long as it takes to sell and close the deal. If your house is listed at $200k and the mortgage costs you $1000 per month, by the time a year goes by and the house is still unsold, your bottom line has dropped to $188K just for the mortgage payments. If you are paying mostly interest and little principal, you aren’t reducing your principal owed by much and the mortgage must be paid off in full at the closing. Other lesser known expenses include the maintenance of the yard and home if you have already moved away, the double payment you’ll be making if you have moved to a new home, and keeping utilities on in both homes.

  •  There are the obvious expenses like ads in the papers and online, commission if someone helps to sell the house, and any taxes or closing costs you owe before turning over the keys to the new owner.
  •  Less known expenses include appraisals if you need them, inspections, pest control tenting if bug infestation is found, and the costs of repairs that the buyer might want to have done before they take possession of the house.
  •  Don’t forget that you must continue to pay the mortgage and taxes, as well as insurance, for as long as it takes to sell and close the deal.

If you aren’t living in the home any longer, there will be upkeep to pay for if you aren’t living in the area. Even if you are close by, it will cost gas and time for you to go over and mow the lawn, etc. If you still live there, you might need a place to board the dog while showing, or babysitting for the little ones. Expenses drop your bottom line from the moment you list the price and the process begins.

Filed under: House Selling