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Beware of the Hidden Costs of Selling in Rochester
Manage episode 154619234 series 1128646
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How much does it actually cost to buy or sell a Rochester home? This is a question on the minds of buyers, of course, but it’s also on the minds of homeowners who are wondering how much they can net on the sale of their home. Here are a few of the fees you can expect to pay when selling:
- Commissions: 6%
- Listing agent: 3%
- Buyer’s agent: 3%
- Transfer taxes & title fees: 1.5-2%
Altogether, a conservative estimate is that selling will cost you about 8% of the purchase price. To figure out how much you’ll actually net, take the potential purchase price and multiply it by 92%, and then subtract your loan balance plus per diem per.
Beware that there are many hidden fees that could pop up during a home sale. The best way to mitigate these costs, or to handle them as smoothly as possible, is to work with a real estate professional who knows the process inside and out. They will look out for your best interests to ensure you’re not take advantage of in the process.
If you have any questions about this or if you need real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!
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