If you plan on listing a Metro Atlanta house, there are costs to contend with before you list, during the listing process, once an offer has been made and when you find yourself at the closing table. In our latest post, we will take a look at some of these listing costs so you can determine if a direct sale of your property would be the better choice for your situation.
The price to sell a house in Atlanta 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 specific things such as photography, upfront fees, while others are “all-inclusive.” Before you commit to an agreement, read on to find out what listing your house in Atlanta will really cost you!
Before you even talk to an agent or get started on a listing, you will need to consider the following activities in preparing your home for sale: .
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, feel, and smell 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!
While cleaning the home, it is a great time to pack away all of your unnecessary items. People don’t want to see personal possessions or clutter when touring your home, so you will want to make sure everything is packed away. You might need to consider an offsite storage space or pod to hold your items until you have moved into 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.
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. The back yard is most important to families with children. If the back yard isn’t inviting and “family friendly”, be prepared to lose a lot of interested home shoppers.
While The House Is Listed
While the property is on the market, you will still find yourself paying to have it for sale. There are many expenses you will be paying during this time that you could avoid with a fast and direct sale upfront.
When a house sits on the market you will still need to pay the monthly utilities, mortgage payments, utilities, and more. Even if you have moved out of the house, it’s important to keep the water, gas, and electricity on for people viewing the home. It’s not much fun viewing a house in the Atlanta summer without air conditioning.
Be prepared for a much larger homeowner’s insurance bill when you vacate early. Bills can double on insurance when you go from an occupied property to a vacant property. Taxes & ongoing cleaning of the property will also need to be considered. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed.
The most nagging issues are the ticking time bombs. If it is in the peak of summer, your HVAC system could fail and cost you thousands before you sell. Keep in mind, these hidden costs are rarely discussed by an agent who wants your listing. That said, these are real considerations that cost real money.
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.
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
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.
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!