Make the Buyer pay the Seller’s Closing Costs


Make the Buyer Pay the Seller's Closing Costs

One of the major drawbacks to real estate as an investment is that it’s not a liquid asset. You can’t turn a house into a pile of cash with the click of a mouse, and when you do sell, it is generally pretty expensive to do so. So wouldn’t it be great if there were a way to make the buyer pay all the seller’s closing costs? Including about the biggest closing cost of all: the commission? When you go to sell your home, you’d be well advised to put some money into it before it hits the market, preparing it for sale. You don’t necessarily need to spend a lot of money – just doing the basics like de-cluttering, cleaning, painting, landscaping, and some easy staging will go a long way towards getting the highest price for your home. Now, you could put your home on the market after spending this money, and the possibility exists that it might not sell – but regardless, this is money you’ve spent up-front and will never recover it (unless the home is sold). Typically though, the cost of preparing your home for sale is considerably less than the closing costs: title fees, escrow fee, transfer tax, and of course, the commission. These costs can easily run 5-7% of the total sale price. Now, wouldn’t it be great if there were a way to make the buyer pay the seller’s closing costs? It sure would be! Now, I’m going to let you in on another dirty little secret: actually, … Read More

What you Need to Know When Selling your Home

Seb FreyCommentary

What's Important to Know

Do you know what you need to know when selling your home? You may know some of it – but contains information on literally every aspect of the home selling process. Every homeowner needs to know certain information when selling their house. First, how much is your home worth in the present market? It’s crucial to have a realistic understanding of your home’s present market price before you do anything else, as knowing this will set the direction of every step you take after that. Once the current market price is known, the next question is, what cost-effective things can be done to increase that price? You see, it might be that just a few changes to your home may increase the bottom line when you sell. Depending on your home, it’s not unreasonable to expect you could enhance it’s resale price by 5 or 10% in the eyes of buyers with some smart tweaks and improvements. Another important question homeowners need to ask is how long will the home take to sell? Will you be able to buy a new home right away, or will you have to wait for your current home to sell first? The cost of selling a home is another important factor. How much will the whole process really cost? Or, looking at it another way, how much will you walk away with after the sale closes? Another common question is, should you try to sell the home yourself and save the commission, or should you use a real estate … Read More