What will it cost to sell my home?
The short answer is the cost of selling a home in Glendale Ca is between six and eight percent of your final sales price, outside of any necessary or negotiated repairs. I will break this down for you in just a moment, but most people actually want to know is…
After everything is done, how much will be left in my pocket?!
The best way to do is to start with a probable sales price and start subtracting. It is worth noting that the sales price is the easiest thing to manipulate. If you are unhappy with your net after finishing this exercise, read our article on how to get more money for your home.
Fixed Closing Costs
Fixed closing costs include mostly standard and normal procedural costs. These fees run about one to two percent of your sales price and even smart negotiating will have little effect on your ultimate net. In fact, the time delays, mistakes and lack of knowledge and experience of a bottom tier title or escrow service can be very costly. Normal items included in your closing costs are:
- Title Insurance
- Escrow Fees
- Document preparation
- Bank Fees
- Transfer Taxes
- Government Mandated Fees and Retrofit
- Prorated Property Taxes
**this is not a complete list and additional fees may apply
Negotiated Closing Costs
Commission. Let’s address the elephant in the room. You might assume the lower the fee to the agent, the more money in your pocket, right?
But the truth is commission is typically between five and six percent of the final sales price. The one percent difference is important, but other factors can matter a lot more.
Repairs. Your home is not new and I know you intend to sell in “as is” condition. It is still normal for your buyer to inspect the home and ask for costly repairs or credits. You have the option to deny the request, but practicality and fatigue often win out over dispassionate negotiating.
**pro tip** an agent who is experienced and skilled at negotiating repairs can save you big bucks in the end!
Outstanding loans, liens, and judgments
The most variable closing cost is the various loan balances that must be paid to close the escrow. Carefully review outstanding balances as well as the fine print regarding fees charged to close down the loan.
**pro-tip – Ask your agent to order a preliminary title report to identify all recorded liens and judgments.
How do I get the most money in my pocket?
You have the least amount of impact on your bottom line by reducing your closing costs. In general, those factors will vary by 1% – 2%.
You have the most amount of control over the sales price of your home. Factors like condition, presentation, and the marketing and negotiation skill of your Realtor can affect the ultimate sales price of your home by as much as 10%