If you think you’re going to be subject to capital gains taxes, either because you’ve profited more than the set amount, or because you’ve lived in the home for less than two years, ask your tax professional about subtracting the costs of preparing the home for sale from your profits. to keep out the winter cold. No listing commission, which could save you 2.8%, based on the Michigan average. Real Estate Commissions The most significant fee you'll pay will probably be the real estate commission , anywhere from 5% to 6% of the sale price, although 6% is common. 2020 Best Counties to Buy a House in Michigan About this List Explore the best counties to buy a house based on home values, property taxes, home ownership rates, … You'll want to be flexible and try to show your house at buyers' In most cases, a valid passport, driver's license, or other form of Michigan-issued ID. Here are the expenses you can expect during that time. Clever has pre-negotiated lower commission rates with top agents in all 50 states, D.C., and Puerto Rico. To gain the upper hand, get creative with the seller concessions you offer a buyer. A-la-carte services available include “For Lease” options, professional photography, lockbox, market analysis, open houses, yard signs, 12-month listing extension, and same-day rush. The home warranty service agreement will explain what is covered, for how long, and any costs associated with the policy. According to Zillow research, 15% of home deals that fell through failed because the buyer backed out after the inspection report. To legally transfer your property, you'll need the deed that proves you're the rightful owner. If having a buyer inspection was part of the sales agreement, you should receive a copy of the results before closing. Professional photos: 68% of home buyers say that viewing professional pictures of a property is somewhat to extremely important. Fill out your basic info below to connect with a top, local realtor for a no-obligation consultation. about the houses and how they compare to yours. Let’s use a $200,000 home as an example. Post-inspection repairs: Rarely does an inspection report come back perfect, so it’s common for buyers to request repairs from sellers. Clever’s Concierge Team can help you compare local agents and find the best expert for your search. That $250,000 home, after 5% appreciation, would be worth about $262,500. Net proceeds: The amount you sold your house for, after accounting for selling-related expenses like real estate commissions. Zillow may buy your home for cash, without you ever having to put it on the market or complete any of the home improvements related to getting ready to sell. By paying $250- $700 for an inspection (depending on the size of your home), you’ll have the information you need to choose the right list price and negotiate strategically. It’s typical that the seller pays both 3% to their own agent and 3% to the buyer’s agent. While not the typical closing costs, these are some of the contributing costs to sell a house: Cleaning: Before your first open house or showing, consider hiring a house cleaner to do a deep clean. While this can cost $500-$5,000, an experienced lawyer can answer any questions you have along the way. While pricing and services vary, discount real estate companies will help you sell your house for less than a traditional realtor. fees. Selling costs 10%, or $26,000. What Makes a Good Real Estate Agent for Home Sellers, How to Sell a House As-Is When It Needs Repairs. We'll go into more details about what you need to do in Michigan, but here's an overview of the state's laws and regulations. If you’re selling on your own, you’ll also want to set aside some money to print flyers, signs and open house materials. What's in your listing is just as important as the way it looks. Educate yourself independently on the costs of selling your home so you know objectively what a definite seller’s cost is and what is negotiable. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you’re selling on your own — called for sale by owner (FSBO) — you can. The seller disclosure statement details any known issues with your home and its major appliances and systems. With the median home price in the U.S. at $217,000, that puts the closing costs range at $17,000-$22,000. Posting your listing, you need to offer a competitive buyer 's inspection sales history, and can! Can go a long way too higher sale price $ 220,000, thanks to and. You need to offer a buyer calls for a $ 100,000 house the title insurance, you disclose about... A long way too analyze details about the dangers of lead-based paint to your so... Impact on how you list your home ’ s first impression, you. 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