If you’re considering listing a house in Fort Myers, there are various costs to consider before, during, and after the listing process, up until the closing. In our latest post, we will delve into these listing costs, allowing you to assess whether a direct sale of your property might be a more favorable option for your circumstances.
The price to sell a house in Fort Myers can fluctuate greatly. It all comes down to the house itself, the needed repairs, the location, etc. Each agent will work a bit differently. Some will charge you for things, while others are “all-inclusive.” Before you commit to an agreement, find out what listing your house in Fort Myers will really cost you!
Upfront Costs
Before engaging with a real estate agent or initiating the listing process, it’s essential to address several preparatory tasks. Some of these tasks can be managed independently, allowing you to save on costs, while others might require professional assistance and additional expenses. Each of these tasks plays a critical role in setting the stage for a successful home sale, ensuring that your property is presented in the best possible light to attract potential buyers.
While not all these tasks may be necessary for every situation, it is important to consider each one carefully. Factors such as the current condition of your property, the local real estate market, and your personal timeline will influence which tasks are most pertinent. Thorough pre-listing preparations can significantly enhance the appeal and marketability of your home, ultimately contributing to a smoother and more profitable selling process.
Cleaning
To create an environment that is appealing and welcoming, you will want to make sure the house is clean. You can do a good job yourself, but bringing in a professional to do a thorough cleaning of the house from top to bottom, can make the whole house look different. If you aren’t replacing the carpets or flooring, you will want to pay to have a professional clean those as well. Don’t neglect the outside. If you have a second story, it might pay off to hire a pro to come wash your windows!
Storage
While cleaning the home, it’s an excellent opportunity to pack away all unnecessary items. Decluttering is essential because potential buyers want to envision themselves living in the space, and personal possessions can be distracting. Clear countertops, shelves, and floors of personal items and excess belongings to create a tidy, inviting atmosphere. This process not only makes your home more appealing but also gives you a head start on packing for your move.
To manage the packed items, consider renting an offsite storage space or a portable storage pod. These options provide a convenient way to keep your belongings safe and out of sight during the home selling process. Offsite storage ensures that your home remains uncluttered and spacious, making it easier for buyers to imagine their own items in the space. Additionally, having a storage solution in place can make your move smoother and more organized once you find a new house.
Repairs & Upgrades
You will want to fix up anything visibly broken or worn. This includes fixing and painting walls, replacing cracked tiles and smoothing floorboards.You might also take this opportunity to make minor upgrades such as new fixtures or hardware. Sending money on these things can help improve the value of your home. You just need to be comfortable paying up front.
Landscaping
You can’t have a beautiful listing with an ugly yard. The front yard is the first thing people see. This should not only be cleaned up but also used to showcase your home. Many people will add plants, flowers, new doors or fencing to make their curb appeal pop.
While The House Is Listed
While the property is on the market, you’ll continue incurring expenses associated with its sale. These costs can quickly add up and may include mortgage payments, property taxes, insurance, utilities, and maintenance expenses. Additionally, you might need to invest in further marketing efforts, staging, and minor repairs to keep the property appealing to potential buyers. All these ongoing costs can strain your budget, especially if the property takes longer to sell than anticipated.
Opting for a fast and direct upfront sale could help you avoid these ongoing costs during the listing period. By selling quickly to a direct buyer, you can bypass the traditional market process and eliminate the need for prolonged expense management. This approach not only saves you money but also reduces the stress and uncertainty associated with waiting for the right buyer to come along. In essence, a quick sale allows you to move on with your plans and secure your finances without the burden of continuous property-related expenditures.
Monthly Costs
While the house sits on the market you will still need to pay the monthly utilities. Even if you have moved out of the house, you still need to keep the water and electricity on for people viewing the home. You will also have to continue paying the homeowner’s insurance and property taxes up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.
Marketing
Some agents will include great marketing, while others will not. To successfully list your house, you will want to ensure there are great listings and great photography of the home. Some people are even hiring drone photographers to capture their homes from above.
After An Offer Has Been Made
Once an offer has been made, and accepted, you will still be responsible for the insurance, utilities, and taxes up until the day of closing. Depending on the lender this could add several weeks to your timeframe. In turn, adding more money you are paying to own the home. Most offers are contingent on an inspection and appraisal process. You can avoid the below costs with a direct offer from a company who purchases as-is.
Negotiated Repairs
Once the inspection has been completed, you might have to negotiate repairs based on the severity. If there is a major problem with the house, the potential buyer will likely request it be fixed before going through with the sale. (The bank isn’t likely to fund a loan for a damaged property either.) If your buyer decides to rescind the offer, you will need to disclose the needed repair to all potential buyers going forward.
At The Closing Table
Commissions
Once you are signing final sale paperwork, it is also time to sign over a check to your agent. This will typically run about 6% of the final sale price of the home.
Closing Costs
Many additional fees are lumped together as closing costs. These include document filing, title search fees, credit check costs, transfer taxes, property taxes and more. On average, this will run you another 2% of your final sale price.
Once you add up all the costs, you can see that listing may not be right for every property. Many people find greater benefits by choosing a direct sale! Run the numbers for yourself, and make the decision that works best for you!