How Can I Determine the Selling Price of My Home?
When evaluating the market value of your home, it’s always best to consult with an experienced Real Estate Agent in your area. There are a number of factors that contribute to the sales price of your home (square footage, beds, baths, modern amenities, etc.).
Why Does My Home’s Assessed Value Differ Compared to the Market Value?
Assessed value is the value that a local municipality uses to calculate property taxes, while market value is the price at which the property would sell under normal market conditions. The market value is what buyers are willing to pay when putting in an offer and is based upon comparable properties within the area in a specific timeframe.
What Are Closing Costs?
Closing costs include the associated fees professionals charge for services to finalize the real estate transaction and your home loan. Some of these services include but are not limited to: origination and underwriting of a mortgage loan, real estate commissions, taxes, title filings, and insurance premiums.
How Should I Prepare My House Before Selling It?
First impressions make all the difference to potential buyers, and you’ll want to focus on creating an atmosphere that is welcoming, modern, and organized. In addition to making the general touch-ups (painting, having the carpet cleaned, decluttering, removing any personal photos, etc.), sellers will want to ensure their HVAC, plumbing, electrical systems, and landscaping are up to date.
When Are the Best and Worst Times to Sell a Home?
Research shows the best time to sell a home is during the late spring/ early summer months as many families are considering the school year during their relocation. May, June, July, and August account for 40% of total annual sales volume in the real estate market. On the contrary, January is the worst time to sell a home, as market activity is much lower during the colder months.
What is an Agent’s Commission Fee?
In a real estate transaction, an agent’s commission fee is the fee for the service and expertise provided by the agent. Typically, a real estate commission fee is 5-6% of the home’s sale price, and the buyer’s agent and seller’s agent split the fee.
How Much Does a Seller Pay in Closing Costs?
When selling a home, sellers usually pay about 8 – 10% of the total sale price in closing costs. It’s always best to consult your real estate agent to discuss the ETC (Estimated Closing Cost) Sheet before officially listing your property.