I'm new to the selling process and just trying to get an idea of what to expect. I've owned my home for a couple years and am lucky to see the value of the house rise as the neighborhood is "up and coming." Me and my fiancé plan to move soon and we decided that it would be best to sell. I'm really curious about the "cost to sell." If I still owe $163,000 on the house, but am able to sell for $190,000, what costs can I expect to see and what ballpark profit will I see? What are the benefits of using the USAA selling services? I apologize for the math problem.
Hello from Mississippi! For starters if you want $190,000 list it for at least $200,000. You usually don't get asking price unless your house is really going to sell. You'll have some wiggle room because smart people negotiate. Besides that, closing costs are negotiable between the buyer and seller. Usually, the buyer takes up closing costs but it is negotiable. There usually are some closing costs the seller has to take care of but other than that I would have the buyer take up everything else. The difference between that negotiated price and the amount you owe goes in your pocket. Good luck negotiating!
I tell you, we just accepted an offer on our house, after 1 1/2 months on the market, and it was interesing. I just wanted to respond to your post by saying that these buyers are so greedy. Every offer we've received, they've asked for $9000+ in closing. We've done just what you said, priced our home higher than what we really expect to receive. We negotiated price and closing costs. We just couldn't get away/counter us not paying closing costs. Ugghh!
Hi Captlggy. I don't know what state you live in but be prepared to possibly negotiate/counter closing costs. This will definitely decrease your profit. Every offer we've received, they've asked for $9000+ in closing. We negotiated price and closing costs. Also, your realtor's rate will surely decrease your profit. I'm no expert, and this is our first time selling, but I just wanted to provide my experience.