What You Pay For When Selling Your Home

What you pay for when selling your home isn’t always clear. So if you haven’t been through the home-selling process there is more to it for you than just receiving money from the sale. There are some costs for the seller to assume that you should be aware of before you sell.

Investments in Your Home

Is your home in ready-to-sell condition? Before you sell, you might need to spend money on updates and repairs, painting walls, or putting in some landscaping. You may need to hire a home stager, which might include renting furniture, to make your home the most appealing to the most people.

A Home Warranty

Many sellers purchase a home warranty for the new buyer for the first year to help cover the cost of unforeseen repairs to systems like heating or plumbing, or appliance breakdown. 

Fees and Taxes at Sale

Even though you are selling your home, you will still owe property taxes pro-rated for the part of the year you still owned the house. There may also be a capital gains tax, depending on how much profit you made on the sale. 

Real Estate Agents

Real Estate Agents charge you a percentage of the home purchase price as their commission fee for all the work they do to help you sell your home — walking you through every step of the complex selling process. Be aware that the seller also pays the commission fee for the buyer’s agent as well. 

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