2007-07-27 16:32:35 · 7 answers · asked by SE 1 in Business & Finance ➔ Renting & Real Estate
Will I have to pay for an appraisal?
2007-07-27 16:44:32 · update #1
Sorry if I didn't make myself clear, I will not be listing for about 3 months, not trying to sell it in 3 months. Thansks for all the great answers so far!!
2007-07-27 16:59:32 · update #2
There will be no upfront costs that for your to pay. You will not have to pay for an appraisal as the buyer will pay for an appraisal to be done to make sure the home is worth what it is selling for. If you choose to pay for the buyer's closing costs, that will most likely come out of your sale proceeds. The only items that you would possibly need to pay for upfront would be the cost of improving your home and getting it ready to sell. Items such as landscaping, maintenance, paint, carpets, minor repair, etc... Good luck and 3 months could be tough at this present time.
2007-07-27 16:53:40 · answer #1 · answered by dzwreck 4 · 0⤊ 1⤋
Don't pay for an appraisal upfront. Most lenders want their own appraisal from a pool of appraisers they use, so yours would be a waste of money.
You could get a home inspection and fix all the problem areas, but most likely a buyer would like their own home inspection.
If you are using a Realtor, there are no upfront costs. They pay for all the marketing.
2007-07-27 18:48:06 · answer #2 · answered by godged 7 · 0⤊ 0⤋
You don't "have" to pay for an appraisal up front; however, depending on the real estate market in your area, getting an appraisal might be a good idea. It will give you an EXACT amount of your home value (as opposed to a range of prices, which will be furnished by your real estate agent). Also, as suggested already, it might be a good idea to get a home inspection to see what items you may need to repair or replace to make your home more marketable.
2007-07-27 16:55:50 · answer #3 · answered by G 2 · 0⤊ 0⤋
The seller has very few costs associated with the sale. In a buyers market, which we have today almost everything is negotionable. Most of the costs are for appraisal (buyers) home inspection (buyers), survey (buyers), origination fees (buyers), closing costs (buyers), comission to realtors (sellers but not due until closing). There is very little if any out of pocket for the seller. Any costs to the seller is usually taken out of the sale money at closing.pp
2007-07-27 16:55:50 · answer #4 · answered by ttpawpaw 7 · 0⤊ 0⤋
I personally tell all of my sellers to have a home inspection before I list the house. This way you know what items need to be repaired or replaced before placing your house on the market. Other than that, there should be no up front expenses.
My only other advise, hire a good Realtor and map out a plan for price reductions in case it's on the market for too long. The average sell time is 4 to 6 months.
2007-07-27 16:45:50 · answer #5 · answered by jjdriskel 3 · 1⤊ 1⤋
You should not have to pay the realtor to list the home...the only upfront cost you may have is getting the house in sellable condition (ie cleaning carpets, fresh paint, repairs).
***UPDATE***
No, the buyer pays for the aprasial, it is usually included in the closing costs they pay. Many buyers now a days are requesting seller pay closing costs, so you may want to have cash on hand for that.
2007-07-27 16:42:57 · answer #6 · answered by Anonymous · 1⤊ 2⤋
although the rest of the answers are GREAT...be advised that the market is over flooded with property right now....unless you have a TERIFFIC property or something GREAT to offer...3 months is not gonna do it for you.
good luck
2007-07-27 16:54:44 · answer #7 · answered by Blue October 6 · 0⤊ 0⤋