I'm selling my house. Besides painting and cosmetic fixes, what other out of pocket expenses might I have in connection with the sale?
- SlumlordLv 71 year ago
Well, assuming you use a real estate agent you are going to need to pay them a commission of around 6% of the sale price, so that's a large number. There will be other closing costs too,figure a few % of the sales price though these vary wildly state to state.
Note you don't pay these until the closing so they aren't exactly of out pocket, at least not out of your pocket yet.
- Steve BLv 61 year ago
I've sold my property in PA and CA.
Here are some things that were required:
A house number on the mail box (PA).
Smoke / CO detectors, wired with battery back up (CA).
Strapped water heater (CA).
Water heater needs a relief pipe to the floor (PA and CA).
Bars on windows require a release (CA).
PA used to require a radon test.
These are just examples.
Your area may require something different.Source(s): Previous home owner
- Glenn SLv 71 year ago
Make sure the hot water tank/heater is strapped down to the wall and that you have carbon monoxide and smoke detectors on each level.....Those are two important things that the loan appraiser requires.
Any deferred maintenance will end up costing you....either in a lower sales price or having to make repair.
Additionally have the carpets either professionally cleaned or replaced. I generally replace carpets if older than a few years old. I pay $13 to $15 a sq. yd. for a nice looking nylon carpet with new pad installed.
- Casey YLv 71 year ago
Its all about curb appeal...
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- Anonymous1 year ago
There are "mights" - you gave no details about your situation.
Stamp tax/excise tax when you sell
Commission for both your and the buyer's agent
Capital gains tax (if applicable)
Any state/local required inspections/certifications such as septic or oil tank
Anything you agree to pay on behalf of the buyer such as closing costs, title insurance or additional repairs
In my neck of the woods a good rule of thumb is that it costs about 10% of the value of the home to sell as long as there are no major repairs needed.
- ?Lv 61 year ago
You don't have to do anything unless your HoA or local laws require it.
-- but that being said, planting trees would be a good one. The reality is that the home's value is going to be +/- some percentage depending on whether or not a family feels comfortable there. That means stupid changes like repainting the rooms to some "happy" color may cause the home to sell for $100k more than you'd expect. No paint job is worth 100k.