Aim High Properties, LLC

Aim High Properties: Expect the unexpected costs of selling your home (FSBO) by being prepared for them

Planning to sell your house fast but want to save on paying commission to a real estate agency? Then it would help if one is prepared for the financial hits that will come your way as FSBO or For-Sale-By-Owner. Most of these costs could be a huge surprise for a first-time seller looking to sell a house quickly.

One needs to be aware of all the correct paperwork and disclosures, have excellent negotiation skills, and be prepared to throw in a family heirloom or two to impress the buyers when one is desperate to sell the house.

Keep the following tips to sell a house yourself to avoid substantial financial pitfalls and derive the right price for your home.

1) Pricing it right

For most homeowners, selling a home is a huge emotional rollercoaster. After all, one saves every hard-earned penny to buy it and makes plenty of memories there, which is why one intends to get as high a price as one can get. But if one prices it too high, it might sit too long on the market. On the other hand, if priced too low, one might face an overall loss. So you may want to consider hiring a professional appraiser to gauge the right price for your home.

2) Staging the home

Before showing the home to prospective buyers, one would need to do a facelift through repairs, decluttering, painting, and landscape additions. Maybe even hire an Interior decorator to do an excellent professional job of making the house look generically appealing to prospective buyers. Also, consider getting your home photographed professionally to be able to post impressive pictures on the websites.

3) Taxes to consider

There are generally 3-4 types of taxes associated with closing a home sale, depending on how the city/state of your residence applies them.

a) Transfer tax: A small percentage of your sale price might be retained by the State as Transfer Tax.
b) Property Tax: Most states charge a property tax, and if one has been negligent in paying them, a pro-rated amount will be taxed at the time of the home sale.
c) Capital gains tax: This is calculated based on several factors, and one needs to look into it carefully to see if they need to pay this or not.

4) Pre-inspection and survey costs

Failing to disclose issues like rotting timber, termite infestations, flooding, etc., can lead to the deal falling through or one being sued by the buyer later when trying to sell a house quickly. To avoid this, one needs to get a pre-inspection done to assess the home's worthiness to reassure the buyers. In addition, property lines might need to be determined in some areas, which can be handled by hiring a surveyor to prepare a report.

5) Closing costs

At the closure of the sale, several costs are deducted from the final sale amount, and these go towards:

i) Mortgage insurance
ii) Fees for title insurance
iii) Loan processing charges
iv) Recording the title deed

6) Moving out charges

Once you have put the house on the market or sold the property, you must be prepared to engage a professional moving company to help you shift out with your possessions.

7) Vacant house fees

If you have moved out and the house is yet unsold, you may need to consider paying for the utilities for electricity, water, etc. Also, you might need to engage professional services for home cleaning, landscape, etc., to maintain the house in perfect condition for viewing by prospective buyers.

8) Seller concessions

One might need to throw in some appliances already present in the house to sweeten the deal. Or even buy a home warranty as an incentive to reassure the buyer that buying your home is a great deal for them.

If all of the above sounds daunting to you, then it's a good idea to rope in the services of Aim High Properties to help sell your house fast and without all the hassles. Their extensive network of resources, years of experience, and up-to-date knowledge of the business have enabled them to connect the right house to the right buyer.

Why should home sellers choose Aim High Properties?

A one-on-one relationship with customers to handle their unique situations
Ability to directly purchase homes and make cash offers
Offers an extremely fast, and hassle-free transaction
Purchases property as well as sells homes directly to buyers

Besides these advantages for home sellers, Aim High Properties also offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.