October 22, 2017
Understanding the real cost of selling your home
In general, buyers agents are responsible for working out the cost sellers agent will agree on to purchase the house. In general, this decision is made by the buyers agent, and in most cases it may not have been consulted by the buyer. You can contact Sobha International City Property dealer and agents to work out the cost factor. It is also important for sellers to enquire with their agents about the cost factor.
The cost factor for selling the house depends on a number of factors stated below:-
- Local custom
- Requirements by the government
- Market condition – Buyers or sellers market
In general, you have to keep in mind that the agents are always very much flexible. This also means that the overall cost of sales for your home may also be flexible. But in case your agent is agreed on paying all required tax amounts then you may not have to worry about the tax payments.
Customary cost factor
When selling your home, you may have to work out the transfer tax on property. The rates may vary from one state to another, and also from one location to another within the same state.
Even if this amount of fee is not much as compared to the overall value of the home, still it can be added to the sales tag. In general, these expenses are always paid by the seller as buyer is already investing big money in making the purchase. The fact is that seller here is the one who is earning the money from the buyer.
Apart from this the agent will also charge you with real estate commission. When purchasing home in Sobha International City you may have to pay much higher commission. In some cases the commissions can go as high as 20 percent when selling your home.
Apart from this you may also have to pay other fee including tax transfer fee, courier charges for documents, document preparation and loan payoffs. If the home is insured then you may also have to pay the insurance amount before selling to the new buyer.
Government mandated cost
A seller at the time of sales may have to provide with home disclosure. This is important for disclosing natural hazards and is provided by the seller. The mandated costs may also differ from one state to another or one city to another. Sellers may also have to provide with complete inspection report to the buyer before selling.
More on legal cost factor can be collected by contacting reputable dlf magnolias Gurgoan agents. There may be claims made by the seller regarding the closing cost. They can request the buyer to increase the value of closing cost, with an aim to overcome all additional expenses. If the sellers are having multiple buyers, then they can also negotiate for much higher price for the home. The buyer can negotiate in case he or she is not having sufficient fund to invest.
For buyers the case might vary as bit. In buyers market the seller can also be forced to pay some part as closing cost to the buyer.