Chandler, AZ (PressExposure) June 11, 2009 -- When homeowners want to sell their house they do research and decide on a listing price based on the âaverage sale priceâ of a home for sale and homes that sold in the area. Market comps in the area are helpful for setting a listing price but are not a good representation of what you actually get to keep after your house sells. The difference between the gross sale price and the amount the seller receives after closing is affected by a number of factors.
Take Home, Profit, Net Proceeds are all terms used for the money the seller gets to keep after all is said and done with the house sale. It sure would be nice to pay off your mortgage and keep the rest of the money from the sale of your house but that is rarely the case. There are a number of costs that must be subtracted from the âsaleâ amount: â¢ 6%-7% for realtor commission (both buyer and seller agent) â¢ 3% toward the buyer's closing costs (on average) â¢ Realtor-recommended upgrades to make the house show better: new paint, carpet, minor landscaping, staging, storage unit, repairs, upgrades, etc.
After all costs are figured in, the seller often walks away with only 75 to 85% of what the house "sold" for.
This is no fault of the realtors by any means â the homeowner agreed to pay for their services and the upgrades probably needed to be done in order to sell in a traditional manor in todayâs market. It is still quite common for sellers and buyers to us a realtor. However, those looking to sell my house and those looking to buy a house have access to nearly everything a realtor does. Money is tight and people are realizing the difference between what their homes sell for and what they actually keep. Due to this, there is a significant rise in the number of homeowners selling their homes through "non-traditional" methods.
It's quite common to find two houses in the same market in which the seller who sold their house for a higher price actually kept less money after closing. If real estate prices were discussed in terms of net price to the seller rather than gross sales price, more home owners would discover that, for them, alternate channels for selling their home are more profitable than going through a realtor.
To learn about your options as a home seller go to http://www.webuyallhomescash.com. Their real estate investors will help educate you and be sure you get the most out of your home for sale right away. They can buy your house in 7 days or whenever you want to close. Webuyallhomescash is 100% free to the home seller so you save the 7% in commission, they usually pay for closing costs, and they buy your house as is so no repairs or upgrades are needed. You get to keep all of the money from the closing and you donât have to pay the mortgage payments while your house sits on the market. If you arenât able to make your mortgage payments a quick sale will keep your credit score great and allow you to avoid foreclosure too.