There are a number of costs that go into a traditional home sale. Sometimes the expenses simply aren’t worth it. Learn more about what to expect in our latest post!
When homeowners to choose to put their houses on the MLS with a Memphis real estate agent, there are often costs they aren’t aware of and are unprepared for. Below we will discuss the costs you should expect with a traditional listing and when it makes sense to spend the money. We will also provide information about the alternatives out there that can benefit you!
Costs You Can Expect
Of course, there are the traditional costs homeowners can expect when selling houses in Memphis. You might factor in commissions and fixing up the property, but there can be costs far greater than that. A commission will usually eat up about 6% of your final sale price, which alone is a high amount of money. But when you add in things like professional cleaning, marketing, photography, staging, landscaping, and you holding costs for things like taxes, utilities, and insurance, you might find that it is better to sell the property sooner rather than later. And that’s not including the closing costs which will amount to another 1-3% of your final sale price on average! When listing your house in Memphis, the costs will vary based on the property and the competition. It is up to you to explore your selling options so you can ensure you are making the best decision for your situation and property.
When It Makes Sense To Spend
If your house needs little to no work and is in high demand, it can pay to list with a Memphis real estate agent. Make sure you are hiring both contractors and an agent whom you trust and can count on to get the job done for you. Paying for minimal repairs while feeling confident you will get your asking price is a no-brainer. However, if there is a lot of competition or if the property requires a lot of money to fix-up and repair it may not make sense to spend all the extra cash. Many people think that listing will be their best choice, but realistically, this isn’t always the case. Some properties will fare much better by being sold directly.
Alternatives To Listing Your House In Memphis
The best alternative to listing your house in Memphis is to sell it directly to a professional buyer. When you work with a professional buyer to sell your house directly, you will be able to avoid things like repairs, commissions, and the continued closing costs. When you add it all up, this can amount to thousands of dollars you are able to keep in your pocket! Selling directly also benefits those who don’t have the time to facilitate a traditional sale with a Memphis real estate agent. Some people need to sell their houses quickly, and in these cases, a listing may not be the best choice.
Keep in mind that not all home buyers in Memphis are the same. When you choose to work with the team at Restoration Properties, you can always ensure you will receive a great offer for your house no matter what condition it’s in. We believe in paying fair prices based on the current real estate market combined with the condition of the property. By avoiding commissions, repairs, and all of the other costs of a traditional listing, you may find that a direct sale is the opportunity you have been waiting for! Get in touch with us today for a direct offer for your Memphis house!