Selling a property involves various expenses that can add up quickly. Here’s a breakdown of the estimated typical costs that sellers can expect to encounter:
Cost | Description | Estimated Cost |
Real Estate Agent Commission | The fee paid to the real estate agents representing the seller and buyer. Typically split between the two agents. | 4-6% of the sale price ($12,000-$18,000 on a $300,000 home) Sellbyowner is a no commission marketplace as we focus on procuring direct buyers. The only fee you pay is $499 after closing. |
Home Staging (optional) | Preparing the home for showings by adding furniture, decor, or making it more visually appealing. | $500 - $2,500+ |
Photography(Recommended) | Professional photos to showcase the property in listings and marketing materials. | $200 - $500 |
Home Inspection (Optional) | Pre-listing inspection to identify potential issues that buyers might raise later. Optional but beneficial. | $200 - $500 |
Repairs and Upgrades (Optional) | Fixing identified issues or upgrading certain aspects of the home to increase its market value. This can be given as concessions or credits to the buyer. Also if the property is listed as-is usually the expectations is the reduced price reflects the condition. | $500 - $5,000+ |
Closing Costs | Fees related to the transfer of ownership, including attorney fees, title insurance, and escrow fees. To get a better idea use our affiliate partner title closing cost estimator | 1-3% of the sale price ($3,000 - $9,000 on a $300,000 home) |
Mortgage Payoff | Paying off the remaining balance of the mortgage. The cost varies depending on the remaining loan amount. | Varies |
Concessions (optional) | Seller concessions such as covering part of the buyer's closing costs to sweeten the deal. This is agreed upon earlier on during contract or during attorney review. | 1-2% of the sale price ($3,000 - $6,000 on a $300,000 home) |
Moving Costs | Expenses related to moving out, including hiring movers, packing materials, and transportation. Use our preferred partner College Hunks Hauling Junk | $500 - $2,000 |
Capital Gains Tax | Taxes on the profit from the sale of the property, applicable if the home was not a primary residence and not lived in 2 out of the last 5 years. | 0-20% of the profit |
Estimated Total Costs for Sellers:
Low End: Approximately $20,400 on a $300,000 home
High End: Approximately $43,500+ on a $300,000 home