Orange Sun Investments
Sometimes it can be costly to sell a house in New Jersey. Once you factor everything in, a traditional sale with a New Jersey real estate agent may not be worth it. In our latest post, you can learn how to sell a house without spending any money in New Jersey.
As a homeowner, you probably already thought on what selling a house mean to you. However, many homeowners avoid selling because they are worried about the costs, wasted time, or hurdles they will face when working with an agent. And most of them are right. Before we jump in to discuss how to sell your NJ house fast without spending a dime, let’s first look at some of those costs that you will face when working with a NJ real estate agent.
Typical Selling Costs
Repairs
Before a house goes on the market in NJ, you will probably have to spend some money and make some repairs on the house. Even the cost of small repairs can add up quickly once you break it all down. Repairing walls and fixing leaky pipes can all lead to more repairs and more money out the door. Make repairs wisely and be sure to properly disclose anything you don’t plan to fix. Also, it’s not uncommon for a buyer to request you to make additional repairs before the closing as a part of the inspection period. Also bear in mind that the mortgage company will require an appraisal to be made to your house before they can approve the mortgage amount, and sometimes a low appraisal means that you will need to repair some stuff around your house.
Upgrades
Often times, homeowners will make upgrades to their property in order to keep it competitive with other homes on the market. While some upgrades can add value, there aren’t any guarantees. Some upgrades don’t add enough value to the property to be worth it, meaning they will cost much more than what the upgrade is worth in terms of added value to the house.
Marketing
Marketing can include many things including professional photography, drone services, premium listing placement, listings outside of what your agent provides, print materials, and much more. While some things are included in a typical listing agreement, others are not. To sell the property as quickly as possible, you may find yourself shelling out a little extra to make sure your property gets seen. Just make sure the things you are spending money on upfront make sense in the long run.
Listing + Agent Fees
While some agents are full service, never charging you a dime aside from commission… others are not. Very often you will see different fees being charged like administrative fees, marketing costs, open house fees, and more. Some agents won’t require to be reimbursed for these things, however, if you are looking for top of the line services, you may find yourself paying a bit extra.
Commissions
Few people know it, but the seller is the responsible for paying all the commissions when a house is sold. The agent commissions will amount to about 6% of the final sale price on average. This is a hefty amount to part with, so if you decide to list, make sure your agent is worth their fee! In some cases, you will be able to negotiate the commission rate or find an agent who offers limited service for a flat fee.
Closing Costs
Closing costs cover things such as a title search, surveys, and loan payoffs. While buyers will pay the majority of the closing costs a seller can expect to pay anywhere from 1-3% of the final sale price in closing costs. When you work with a professional buyer such as Orange Sun Investments to sell your house, the closing costs can be avoided.
Holding Costs
It costs a lot of money only to hold a house. The more time you take to sell, the more you will pay in utilities, insurance, property taxes, maintenance, landscaping and of course, mortgage payments (unless you own the house free and clear). When you sell your house quickly to a company like us, you will avoid all of these costs.
How To Sell It
Sell As-Is
Selling your house as-is will save you a fortune as long as you are able to get the property in front of the right buyers. Focus on showing the home’s potential, even including a cost analysis showing an estimate of what the improvements will cost. You’ll want to make sure investors and cash buyers
List It
A successful listing will require many of the costs listed above. Save money by choosing a full-service agent so there are no surprises. If you choose to sell without making repairs, consider offering credit for buyers to renovate as they see fit.
Sell To A Professional Buyer
Working with a professional buyer like us at Orange Sun Investments will allow you to sell your house quickly and for a great price. We are the best House Buyers in NJ! We’ll work with you to make the process as simple as possible, making sure you don’t ever have to spend a dime.