A traditional home sale involves a number of costs. Sometimes the expenses simply aren’t worth it. Learn more about what to expect in our latest post!
When homeowners choose to put their houses on the MLS with a Nashville 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 (see our article 7 Costs to Expect with a Traditional House Sale in Nashville for a full break out of expenses) homeowners can expect when selling houses in Nashville. 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, plus your holding costs for things like taxes, utilities, insurance, and possibly mortgage payments, you might find that it is better to sell the property sooner rather than later.
After all of this, you still have the closing costs which will amount to another 1-3% of your final sale price on average! Worse yet, if you sell to a first time home buyer, chances are you will be paying their closing costs too, another 2% to 3%! Add all of this up and you are looking at thousands of dollars just to sell your house.
When listing your house in Nashville, 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 Nashville 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 available homes for sale 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. Our article “How to Sell a Home That Needs Repairs” might help guide you in evaluating the amount and costs of repairs.
Alternatives To Listing Your House In Nashville
The best alternative to listing your house in Nashville 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 Nashville real estate agent. Some people need to sell their houses quickly, and in these cases, a listing on the open market with an agent may not be the best choice.
Keep in mind that not all home buyers in Nashville are the same. When you choose to work with the team at Southern Homes Investments, a locally owned real estate investment company, 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. A huge advantage of selling to Southern Homes Investments is we close quickly and pay with cash. You do not have any fees, commissions, or closing costs! Check us out at SouthernHomesInvestments.com.
By avoiding commissions, repairs, and all of the other costs of a traditional listing, you may find that a direct sale is an opportunity you have been waiting for! Get in touch with us today for a direct offer for your Nashville house! You may find sell my house fast in Nashville TN is your best option.
Learn more about what goes into a successful home sale! Contact us today for more information! 615-235-0612
Disclaimer: David Wright is a licensed real estate agent in Tennessee and this article is not a solicitation to list your home.