There are many hidden costs to selling a home. Here are a few you should be aware of.
There are a lot of hidden costs involved with selling a home that not every homeowner takes into consideration. We don’t want you to be surprised if you’re ever in this situation, so here are a few of the costs that you may incur during the home selling process that you might not be aware of.
- Commission. Sometimes, agents don’t communicate well with the seller and fail to understand exactly what type of commission will be charged on the successful close of the property.
- Closing costs. The escrow closing fee and title insurance are split between the buyer and seller in most cases. In our initial meeting with our clients, we go through a “net sales price sheet” that goes over all the closing costs line by line so there is no confusion or surprises.
- Moving expenses. Sometimes sellers don’t consider the costs, but there will be some whether you are moving on your own with a truck or hiring a moving company to assist you.
Most people can’t afford two mortgages at once.
- Multiple mortgages. If a client moves prior to selling their home, they would have to carry two mortgages. We usually recommend to most of our clients not to go under contract on a new home until they have an executed contract on their current home.
If you have any additional questions about these costs for us or are interested in buying or selling a home here in Omaha, don’t hesitate to give us a call or send us an email. We would look forward to hearing from you.