Do you know about the costs of selling your house in the Los Angeles area? Learn what to expect before putting your house on the MLS, selling on your own, or working with a direct buyer. You might be surprised at how the costs of selling can eat away at your profits!
Selling your house can be expensive. There are a number of things to pay for both before and after the sale. If these costs are particularly high, a direct sale will be a far better choice. In our latest post, we will dive into the costs of selling your Los Angeles house using the three most popular methods. Compare all of your options before selling your house in Los Angeles!
Costs Of Listing
This will vary based on the agent you choose to hire. You will typically be paying about 6% of the final sale price to the agents involved in the deal. With some agents, you will also face costs for marketing and administrative services. Be sure you know what’s included before signing a listing agreement.
Whether or not your agent includes marketing services in their rate, there are a few marketing costs you consider adding. For example, many sellers will hire a professional photographer to take pictures of their home. Some will utilize videographers or even drone service companies to get aerial shots of the property. You might also want to upgrade your online listings to “premium” so they show up at the top when people are browsing through houses in your area.
Most houses will require at least a few repairs before going on the MLS. Once a buyer has been found, there will likely be negotiations as to who makes the repairs found during the inspection. You can negotiate to either make some of these repairs or discount the sale price of the home.
Cleaning And Staging Costs
Most sellers will have their homes professionally cleaned before putting it on the market. Many will remove personal belongings and clutter, storing all unnecessary things elsewhere. Some will even hire a professional stager to come in to make the house look as if it came out of the pages of a magazine.
In a typical home sale, the seller will need to pay about 2% of the final sale price in closing costs. This can be negotiated up or down between the buyer and seller, but 2% is typically what you can expect to pay.
Continued Ownership Costs
Listing your house with a Los Angeles real estate agent can take a few months. During this time, you will still be responsible for the property taxes, utility bills, homeowners insurance, maintenance, landscaping, and possibly a mortgage. When you add up all the expenses of owning the house each month, it can amount to thousands of dollars!
Costs of An FSBO (For Sale By Owner) Listing
While trying to sell your house on your own will help you avoid commissions and agent costs, there are other costs to consider. In addition to many of the costs above, here are some additional costs to expect when selling your house in the Los Angeles area.
Heightened Marketing Costs
When listing your house, the addition of extra marking is at your discretion. However, when you are selling on your own, 100% of the marketing is up to you. You will have to pay for all online listings, printed materials, signage, and open house costs. You will likely want a professional photographer to come in to help you present the house in the best light. You can also opt to add things such as virtual tours or videos of your property.
House Preparation Costs
Getting a house ready for a sale can take a lot of work. As with a listing, there are a number of things that will need to be done before the house is advertised for sale. You will need to thoroughly clean the house from top to bottom. You should make any needed repairs, and be prepared to make more after the inspection process. Many sellers will also face storage fees for their unnecessary items, as well as the cost of a professional stager or decorator.
The Price Of Your Time
When you choose to sell the property on your own via an FSBO listing, you will find yourself spending an excessive amount of time dealing with the sale. You will need to be available for showings, create listings and marketing materials, respond to questions, process paperwork, handle negotiations and more.
Costs of Selling Directly
When you opt to sell your Los Angeles house to a buyer such as John Medina Buys Houses, you will be able to avoid all of the selling costs mentioned above. There are no fees, repair costs, or even closing costs. We buy directly, as-is, potentially saving you thousands of dollars along the way.
A convenient alternative
Maybe you’re impressed by how expensive it can be selling a house in Los Angeles. That surprise and confusion are feelings for which many sellers have experienced when trying to sell their properties in Los Angeles.
While it may be quite expensive to sell a house, we know it very well, there are also other alternatives that are much more comfortable and save money.
You do not need to spend large amounts of money, nor give up a high percentage of profits to sell your home. Nor do you have to wait for so long waiting for a buyer or complicate things with lists and exhibitions. You do not need to mortify, just sell it to direct buyers!
Do not waste money or time
That’s right, now you know that there are more alternatives to sell a property in addition to the conventional ones. You could sell your house on your own, but that would mean that you would have to take care of the wholesale process alone and that is really exhausting.
Selling outside the market is an alternative to save time and money, but you will still require agents if you want to sell in a conventional way, which is an expense throughout the process. You can make things much easier and more convenient by selling directly to a home buyer in Los Angeles.
These companies do not require long wait times, agent fees, waiting lists, or marketing. You can sell your home quickly without paying agent fees, closing costs, repairs, remodeling, cleaning, or any other expense. In short, you can sell your house without spending a dollar out of your pocket! and with the convenience and speed that only these companies can offer.
Evaluate your options
If you are thinking of selling your house in Los Angeles, take into account all the available options and thus you can evaluate which is the best option for you.
Selling in the traditional way is not always the best option for everyone, and we know how difficult it can be to sell a property without help, so we want to show you that there are other much more convenient and easy alternatives.
You do not need to rush or mortify yourself looking for a way to sell your house, there are many! Our best recommendation is that you take the time to evaluate your options and choose the alternative that best suits your needs.
It can be overwhelming to think of so many possibilities and variants, but take your time so that you can select the best option for you.
As we mentioned before, our best advice is to take your time to decide. We have years of experience in the real estate market and we can tell you with confidence that it is always preferable to carefully evaluate each option at your disposal.
Take your time, nobody is pressuring you, investigate your alternatives and you will discover which is the best option for you.
But if you allow us to give you one more piece of advice, selling your property to a company as John Medina Buys Houses can be a great way to save time and money, without complications!