How Much Will it Cost Me to Sell My Richmond VA Property?
You have been thinking of selling your Richmond VA property for years yet the real estate bubble kept you on the sidelines. Now that there has been a positive shift in the Richmond VA real estate market
, you are contemplating getting in the game and moving on or moving up. However, you are wondering how much you will walk away with when it comes to the bottom line. As your top producing Richmond VA Realtor
, I have outlined some of the costs associated with selling your property:
Accepted offer: $250,000
Commission at 6% (3% to the buyer's agent and 3% to your listing agent): $15,000
Closing attorney fee: $400
Termite inspection: $75
Grantors tax: $250
HOA documents: $250
Lien release fee: $85
In addition to these expenses, you will be responsible for any unpaid interest on the loan balance, unpaid taxes/assessments, and any closing costs you may agree to pay on behalf of the buyer. There may also be costs associated to any home inspection repairs. Once you deduct these fees from sales price, be sure to subtract the loan balance to see your net proceeds.
Although you may be tempted to try for sale by owner (FSBO) in order to save on the commission, remember that according to the National Association of Realtors
the typical FSBO home sold for $174,900 vs a Realtor assisted sale at $215,000. That is a $40,000 spread so logically you come out ahead by using a knowledgeable and experienced Richmond VA real estate agent to get your property sold fast and for top dollar!
To discuss your options to sell your Richmond VA area property, contact me, your professional Richmond VA real estate agent at the RVA Home Team
with eXp Realty, today for a complimentary market analysis on your house.
*Disclaimer: This scenario above is for illustrative purposes only. Every situation and transaction is unique.