of course we have to draw up a contract and sit with the title company, etc ,etc but theres got to be some oney that im saving from already finding a buyer right?
2007-01-25 01:24:50 · 7 answers · asked by toolate 3 in Business & Finance ➔ Renting & Real Estate
i meant MONEY in my question....and in case anyone was confused by how i write the question NO i didnt even try going through a real estate place yet, this was unexpected.
2007-01-25 01:26:18 · update #1
about 10,000 $ depending on asking price, best of luck selling your home.
2007-01-25 01:29:59 · answer #1 · answered by Eda M 3 · 0⤊ 0⤋
Typical real estate commission is 6% to 7% of the selling price.
However, not using an agent can cost you if you're selling your home for too low a price. I had a neighbor who nearly learned that lesson the hard way. He was doing a FSBO and was getting lowball offers on what appeared to be a low asking price to begin with.
He finally hired a realtor who recommended a substantially higher asking price. He went with the realtor's recommendation and got an all-cash offer slightly HIGHER than the revised asking price and closed the sale in just over 2 weeks!
People thought his asking price was too low and that either he was hiding something wrong with the house or was desperate for a quick sale. Even though he had to pay the realtor the commission, he got over $25,000 more in his pocket when the deal was done than he would have at his earlier asking price.
2007-01-25 09:40:48 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
it depends... it could save you some $$$ but it could cost you some $$$
most real estate agencies will appraise your house and set a price above your asking cost to figure in their commission.
lets say you tell the agent i want and must have at least $167,500 for the house. they will set a price will above that maybe around $180,000 or higher. with a price that higher it will give them some wiggle room with a buyer to go down a few dollars, allow the agency to make a few dollars and you get your reserve asking price.
with an agency you don't have to do all the leg work.
selling on your own you will have alot of leg work so buy some nice shoes.
best of luck!
2007-01-25 09:35:21 · answer #3 · answered by duhryan3 2 · 0⤊ 0⤋
even thou real estate agents cost 5- 8% of the sale. more often than not they get you a higher price for the house than you can. AND they help you not to shaft you self - they have the knowledge of how not to mess up a sale that is full of legal problems.
you better do your homework and consult some serious professionals before signing the house away.
2007-01-25 09:39:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Let us assume your home is Worth 300K on the open market. You will probably sign with at agent at 6%. So, 300Kx6%=18K. . A basic saving of $18K. This figure is not added on to the top of the base price, subtract it. TO even get closer to your net price deduct your escrow fees, wiring fees, transfer fees, what is left of your present mortgage if any and you should know how much you are walking away with.
2007-01-25 09:38:42 · answer #5 · answered by sylviavnpttn 5 · 0⤊ 0⤋
yes the brokers fee, which could have been any where from 3-6% of the price of the house.
2007-01-29 07:16:11 · answer #6 · answered by jewbrod 4 · 0⤊ 0⤋
Go to
www.realtor.com/Basics/AllAbout/Realtors/Why.asp - 27k
2007-01-25 10:01:20 · answer #7 · answered by Laurasamp 1 · 0⤊ 0⤋