Running the Numbers for Selling Your House in Ewing, NJ

Are you selling your home in Ewing, NJ? If you are, you must run the numbers so that you don’t get any surprises. The fact is that the traditional approach to selling your home can end up costing you far more than you would expect, making direct sales a better option for most sellers. Here, you can learn about some of these unexpected costs and other things to consider when selling your home in Ewing, NJ.

Unfortunately, not many people look into this process before they sign a listing agreement with an Ewing, NJ real estate agent. Before signing this agreement, it’s a good idea to see how long it will take to sell your Ewing, NJ home and how much this process will cost you.

Repair Costs

It’s normal to require repairs for your home before you sell it, especially if you’ve lived in the house for a very long time. Repairs help you compete with other comparable houses in Ewing, NJ. However, the problem is that often, when you start getting repairs,other thingsare discovered that will end up needing to be fixed. Buyers often use any necessary repairs as a negotiation tactic to reduce the cost of the house, which is why it’s a good idea to pay for your own inspection at the start of this process.

Preparation Costs

You will incur preparation costs when placing your home on MLS in Ewing, NJ. These costs refer to the usual upfront expenses that you need to cover before you start showing your home to improve your chances of selling your house quickly. These costs include landscaping, painting, cleaning, staging, and utilities that are incurred when you’re not living in the home. The better your preparation, the better your chances of selling your home.

Marketing Costs

You may not know that when you are selling your Ewing, NJ home that you will end up paying for marketing costs. Depending on the agent and the marketing tactics that they use, you could be on the hook for these expenses, and it can be costly, especially when they enlist the services of professional photographers and premium listings.

Holding Costs

As long as you still own your home, you are still paying for it even if you aren’t living there. These expenses include your utilities, mortgage, and potentially extra homeowner’s insurance for not residing in the home. For every month that you don’t sell your home, you still have to pay these expenses, which can be particularly stressful if you’ve already moved into a new home, and it is just one reason why people opt for direct sales solutions in Ewing, NJ.

Agent Commissions and Costs

Your selling agent will generally get about 6% commissions off the price of the home sale. Although this fee may not sound like a lot, it’s a significant amount of money, especially when you factor in how much you earned from the home sale. If you owe any money on your mortgage, the money that you still owe gets deducted from those costs.

Closing Costs

The real estate commissions are covered as part of the closing costs. However, many other things are included in closing costs,such as transfer fees, attorney fees, and escrow fees. All of these fees add up, and you could even spend up to $22,000 on these closing costs.

Selling your home in Ewing, NJ, is an overwhelming process, but a direct sales process from Savannah Properties NJ can be the better solution you need.

(1) https://www.nolo.com/legal-encyclopedia/homeseller-checklist-expenses-when-selling-36253.html

(ii) https://www.zillow.com/sellers-guide/costs-to-sell-a-house/