Selling your house in Milwaukee? Make sure you run the numbers so you know exactly what to expect! A traditional sale can cost a fortune whereas a direct sale won’t usually cost you anything. In this blog, we discuss the costs and timeframe you can expect when selling your house in Milwaukee!
Many people will blindly jump into a listing agreement with a Milwaukee real estate agent without first considering how the process will play out. Before signing an agreement or deciding how you want to sell your house in Milwaukee, you should try to estimate how long it will take and what it will cost you. You should also consider multiple selling methods and how they will impact your situation. Keep reading to learn more about running the numbers for selling your house in Milwaukee.
The biggest problem with repair costs is they tend to accumulate. Fixing a small crack in the paint may end up with you finding a big hole in the wall that can cause major damage to your property. If you’ve ever dealt with fixing your home, you’ll know that the initial work is usually followed with several more expensive repairs. When putting your home on the MLS in Milwaukee, you’ll have to make sure that your house is in good condition. This means that everything needs to be fixed, especially easily visible thins, and expect more problems when the inspection comes. And if the buyer ends up negotiating the price, you will lose more money than expected. This is why it is a good idea to pay for an inspection on your own before listing, so you can be prepared on time.
Preparing your house for the MLS in Milwaukee tends to take a lot of time. Personal belongings should be removed and stored elsewhere. If you plan to stage the house, then think about adding in some pieces to make the house look decorated and warm. You may even want to hire a professional designer in order to make everything look as beautiful as possible! Your house may be great looking as-is, but if you do just a little bit to make it even better, you’ll have more chances of selling it fast.
If you decide to list your house with a real estate agent in Milwaukee, make sure you know which types of marketing will be used to sell your home. Some agents all full-service, pulling out all the bells and whistles, while others will simply put your house on the MLS, hoping for a buyer to come along. Many homeowners find themselves paying for premium listings, professional photography, and other marketing materials.
Do you know how much is hesitating to sell your home costing you? Every month that passes means costs for mortgage and bills, but also think about repair and other maintenance expenses. Any real estate investor will confirm that the longer you own a house, the more the costs are. If you want to end your holding costs right away, consider a direct sale of your house in Milwaukee. If you sell your house fast you can save thousands of dollars that you would have otherwise spent on the home.
Agent Commissions and Costs
Your agent’s commission will be somewhere around 6% of your final sale price. So let’s say your house sells for $250k. You will immediately be out about $15k plus any other fees or reimbursements due to your agent. When you include this hefty amount with all the other costs and fees you will likely face, you may find that a direct sale will be a better way for you to sell.
Closing costs for a property seller will usually run anywhere from 1-3% of the final sale price. So again, if your house sells for $250k, you will likely be spending another $2,500-$7,500 once you reach the closing table. With a direct sale to Sparks Property Investors LLC, you won’t have to worry about the closing costs. We will handle everything so you can sell your house fast and move on.
When deciding whether to list your house with a Milwaukee real estate agent or sell it on your own, it’s important to have a realistic grasp on what everything is really going to cost you. Don’t just rely on your estimated final sale price to tell you which way to sell. You must factor in all of the costs you will face too. Putting your house on the MLS can be expensive. However, for some houses, it makes the most sense. For other properties, a direct sale will ultimately help the seller keep more money in their pocket while saving time and energy. It’s important to look at your property and your situation to determine which selling method will be the best for you!