Are you considering selling your Miami home?
Selling a property can be an exciting experience that (if the process goes smoothly) can bring a lot of satisfaction, especially if you need the money or are moving for positive reasons.
Don’t Forget About The Financial Costs!
Although it’s not always the case, listing, marketing, and selling a property through conventional methods means YOU will have to cover additional costs, commissions fees, and unforeseen expenses.
Knowing what you have to pay will help you decide whether you want to work with an agent or an investor! Luckily, this short blog addresses the issue and the different fees you have to pay when selling your property in Miami.
Agents┃The Different Fees You have to Pay
A real estate agent is essentially a middle man between you and the buyer. They represent your house on your behalf and will take care of most of the work:
- List your property on the MLS
- Advertise your property
- Offer advice on how to get your property “market-ready”
- Take responsibility for house viewings
- Negotiate with potential buyers
- Take care of the paperwork
Real estate agents are licensed professionals who arrange real estate transactions, putting buyers and sellers together and acting as their representatives in negotiations.Investopedia
It’s no surprise that all this work, experience, and effort on their part leads to an expensive commission fee after the sale.
Commission fee┃A percentage of the property’s sale price.
In some ways, this is beneficial to the seller since the agent doesn’t get paid until they successfully secure a deal and sell your Florida house. However, reputable agents typically juggle more than one property and represent multiple homeowners (perhaps in the local area). This can slow the overall sales process down as; understandably, they cannot prioritize one property over the over.
I sold my Miami home for $100,000!
There may be other fees you have to pay as well!
- Advertising costs
- Potential Listing fees
- Agent’s Broker costs
- Title Company fees
Investors┃What Are The Different Fees You have to Pay?
This is the part that surprises most house-sellers!
Plus, investors are not agents! They’re not a middle man that represents your property. They’re not advertising or listing the house on your behalf. And that means there’s NO COMMISSION FEE!
Depending on who you work with, you might be responsible for closing costs. But, its different for each investor. Make sure you ask your investor upfront if there are any closing costs!
Unforeseen Agent Fees
There’s one more expense or cost that you might not be aware of:
Getting your property market ready!
When you work with an agent, they may ask you to do some work on the property beforehand. Depending on the condition of your home, you may have to extensively clean, redecorate, and even renovate your home before an agent will list it. Not to mention, you may need to sort out the exterior as well and tidy up the garden.
This all costs money! Plus, during this time, you have to cover monthly mortgage payments, bills, taxes, and insurance.
Although this is technically not an agent fee, it’s still an expense associated with choosing an agent.
This is not the case when you choose to sell to an investor!
An investor will buy your Florida house in AS-IS condition, and they’ll close quickly.
If you like the sound of that, an investor might just be the option for you!
And that’s exactly who we are! At Sunshine State Buyers, we’re Professional Home Buyers based locally in Miami. Check out our website >>> We Buy Houses Fast Florida!
If you want to go over this in more detail or confirm that we won’t charge you any fees, then please get in touch and we’ll be happy to walk you through it.