If you plan on listing a Fort Myers 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 selling price of a house in Fort Myers can vary significantly, influenced by factors such as the property condition, necessary repairs, and its location. Real estate agents may have different approaches, with some charging additional fees while others offer all-inclusive services. Prior to committing to an agreement, it’s crucial to understand the actual costs associated with listing your house in Fort Myers. Clarify with your agent to ensure transparency about the expenses involved.
Upfront Costs
Before you even talk to an agent or get started on a listing, you will need to take care of the following things. Some you can do yourself, while others you might have to pay for. You might need all of these things, but they are all important to consider.
Cleaning
Creating an inviting and attractive ambiance hinges on maintaining the cleanliness of the house. While personal endeavors can yield satisfactory outcomes, engaging a professional for a thorough, top-to-bottom cleaning can significantly enhance the property’s allure. Opting for professional cleaning services for carpets or flooring, particularly if replacement isn’t on the agenda, is wise. Furthermore, don’t neglect the exterior; enlist the expertise of professionals for window washing, especially for elevated windows, to elevate the property’s curb appeal.
Storage
During the cleaning process, it presents an excellent opportunity to pack away any unnecessary items. Potential buyers prefer to view homes without personal possessions or clutter, so ensuring everything is neatly packed away is essential. You may need to explore options such as offsite storage spaces or pods to temporarily house your belongings until you’ve transitioned to a new residence.
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.
Landscaping
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.
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.
Monthly Costs
While the house sits on the market you will still need to pay the monthly utilities. Even if you have moved out of the house, you still need to keep the water and electricity on for people viewing the home. You will also have to continue paying the homeowner’s insurance and property taxes up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.
Marketing
Real estate agents employ diverse marketing strategies, ranging from exceptional services to more standard approaches. For optimal listing success, compelling descriptions and high-quality photography are paramount in showcasing your home. Some homeowners are even exploring innovative options like drone photography to capture captivating aerial views of their properties. These visual elements hold immense sway in captivating potential buyers and setting your listing apart in the competitive real estate landscape.
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.
Negotiated Repairs
Following the completion of the inspection, negotiations regarding repairs may ensue, contingent upon their severity. Significant issues with the property are likely to prompt the potential buyer to request repairs prior to finalizing the sale, as banks are unlikely to fund loans for damaged properties. In the event that the buyer opts to withdraw their offer, it becomes imperative to disclose the necessary repairs to all subsequent potential buyers.
At The Closing Table
Commissions
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.
Closing Costs
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!