What are the costs associated when selling a home?

When selling your property, the price that your property sells for is not necessarily the amount that you will receive into your bank account on settlement day. As a seller, you should be aware of how much it costs to sell your home. It can be easy to underestimate these costs and become overwhelmed by some hidden costs of selling.

An experienced and trustworthy real estate agent should be able to advise you on the costs associated with selling a house. Ensure that you are aware of the costs involved in selling a house.  Learn more in this video, where Joanne Danckwardt provides some key points of house selling costs when selling a property for you to be aware of – before, during and after the sale.

If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.

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Below is a summary of what you can expect to pay when selling your home:

Conveyancing

Conveyancing is the process of transferring legal ownership of a property from one person to another and is required in every real estate purchase. In order to sell your property, you must have a contract of sale prepared.  Engaging a conveyancer to ensure your real estate contract is drawn up with accuracy is an important first step and an essential item before you are able to even list your property for sale. Conveyancing costs in NSW do vary, so take the time to shop around.

Pre-sale preparation

When selling your home, you may want to consider some pre sale property styling or design tips when selling to prepare your home for sale by attending to items such as:

• House cleaning
• Repairs and maintenance
• Painting
• Renovations – such as kitchen or bathroom
• Garden maintenance

Agent Commission

This cost is a percentage that is calculated on the sale price and is paid to the agent at time of settlement.  You don’t need to factor this expense in up front, as the agent fee is only paid if your property sells. The agent commission is usually disbursed from the deposit that is paid by the buyer.

All fees should be discussed with the agent before signing. Having a good real estate agent to sell your property quickly and at the best possible price, can be invaluable to sellers, and can markedly minimise the stress you might have about property selling costs.

Real estate agents are professionals and know how to reach more buyers and obtain the best price for your home. Unless someone walks up to your door and offers you a ridiculous amount for your property, the cost of a real estate agent should be considered worthwhile expense when selling your home.

Marketing

Great marketing is all about using maximum exposure to capture people’s attention and interest in a property.  Having a marketing budget is important. Real estate marketing costs are a separate cost paid for by the seller. The agent will recommend a tailored marketing campaign for your property, which may include, a signboard, internet advertising on platforms such as realestate.com.au and domain.com.au, photography, brochures, property videos, floor plan, and newspaper advertising, Marketing is payable even if the agent does not successfully sell the property.

At One Agency JD Property Agents, we offer 0% upfront payment for your marketing costs. We have partnered with a company called Campaign Agent. We believe that resources should not stand in the way of a property achieving exceptional results. Campaign Agent is designed to ensure that sellers have the capital to make the best choices. Campaign Agent gives you the flexibility to pay later for your real estate advertising costs for the campaign investment, which allows you to run the required marketing campaign.  You can choose to have the advertising funds paid to Campaign Agent from the deposit held in trust once the property has sold.

Property styling

Home styling can be decluttering, cleaning and de-personalise the home, rearranging the existing furnishings and accessories through to employing a professional home stylist who will remove the majority of the existing belongings and refurnish / decorate the space with hired items.  Styling your home to sell can be an important element to a successful sale.

Auction fees

If you are considering selling your home by auction, the auctioneer fee is another cost to be aware of. Ensure that you agree to this cost upfront with your agent when signing your Agency Agreement.

Pest and building report

You may want to consider having a pest and building report completed for your property. This can allow you repair any issue, and to avoid last-minute shocks should the buyer find anything of concern.

Removalists

When using the services of a professional removalists company, we recommend obtaining 2 or 3 quotes from different providers, and also decide on what type of service you want – full pack, removal and unpack or removal only.

Mortgage discharge fees/Lenders fees

You may have to pay fees to your lender when you sell your home. These can include mortgage discharge fees, settlement fees and government fees.

If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.

YES, DOWNLOAD MY CHECKLIST

The costs associated with selling a house can be much more than anticipated or overwhelming, but when the price a property sells for is right, these costs can easily be settled, and still leave the seller with profit in their pocket. Know your real estate costs before you sell to allow you to be prepared for your settlement funds.

If you feel you could benefit from our experience with selling, we’d love to hear from you. Simply reach out.  We hope that has helped you today. If you have any questions, we’d love to talk to you. Our number is 0426 264 771. We look forward to talking to you soon.