Profit is a major factor for people to consider when selling their house. One of the easiest ways to increase your net proceeds is to find the cheapest way to sell your house. One of the most significant costs you’ll face is the 6% real estate agent commission.
Skipping the real estate agent commission can help you save thousands.
We’ve listed out some of the least expensive ways to sell your home, where you do not pay exorbitant amounts to your listing agent.
Sellers may need to make renovations to make their homes more appealing to buyers. Other home-sale expenses include staging and closing costs and moving expenses. Understanding and budgeting your cost is important.
Key Takeaways
- Effective marketing can help you save thousands in repairs. A listing on MLS will get you the best exposure, as your listing is syndicated to 100+ real estate websites like Zillow, Redfin, Trulia, Realtor.com, and more.
- Selling to a cash buyer is a quick and hassle-free way to sell your home. They also buy your house as is, meaning you aren’t required to make any repairs.
- An MLS listing on Houzeo is an inexpensive option to sell your home as you avoid paying seller agent commissions.
Cheapest Way to Sell Your House
Here are some of the cheapest ways to sell your house in 2023:
1. Sell Your Home Yourself
The cheapest way to sell a house is to sell it yourself. By selling your house “For Sale By Owner” (FSBO) you can save up to 3% on the real estate agent commissions. To list your home on MLS, you can use FSBO sites like Zillow, Redfin, and more.
2. Use a Flat-Fee MLS Service
A good flat fee MLS listing service provides you with quick listing, complete control over your transaction, and dependable customer support.
Houzeo lists your home on the MLS within 48 hours and provides you with cutting-edge tech tools to help you in your home-selling journey.
3. Sell Your Home As-Is
There’s a chance you won’t have enough money to pay for the house repairs. House staging and house repairs would just increase the expense on sellers.
For example, it costs about $30,000 on average for bathroom remodeling. You can avoid such costly upgrades by listing your home as-is.
4. Host an Open House Yourself
Consider hosting an open house on your own. This can save you hundreds of dollars in fees and give you control over the event.
Advertise the open house online and in your community to attract as many buyers as possible.
5. Consider Selling to a Cash Buyer
Selling to cash buyers has the advantage of being quick and convenient. The drawback is that you will only get 30%–70% of the home’s fair market value.
You can advertise your home to national cash buyers by listing it on the MLS through websites like Houzeo.com.
What is the Cost of Selling a House?
When selling a home, there are a number of costs involved. These including:
- Real Estate Agent Commission: If you work with a real estate agent to sell your house, you will need to pay around 5-6% commission.
- House Improvements: Depending on the condition of your home, you may need to make some repairs or updates. This will make your house appealing to potential buyers. These costs can vary widely, from minor cosmetic repairs to major renovations.
- Staging and Cleaning Costs: To make your home look its best for potential buyers, you may need to hire a professional stager or cleaner. These services can cost several hundred dollars or more.
- Pre-sale Inspection: A pre-sale inspection can help you identify any issues with the house. However, it can be expensive costing depending on the size and age of the home.
- Moving Cost: Moving into a new home after selling your old one will increase your expenses. You will need to hire movers or rent a truck. The cost of moving can vary depending on the distance and number of items.
- Closing Cost: Closing costs are variable costs that can increase. Certain closing expenses are paid by both the buyer and the seller. However, closing costs for sellers could range from 8% to 10% of the home’s final sale price.
Final Word
It is important to understand the costs of selling a home in the US. This is because you can better prepare for them and ensure that you get the best price for your home.
Working with real estate professionals can help you bring maximum profit. However, they are not the cheapest option to sell your home. To get the maximum net proceeds, you need to sell your house yourself.
That’s why listing with Houzeo is the cheapest way to sell your house. Houzeo is a tech-centric For Sale By Owner real estate platform that allows you to list on the MLS for a nominal flat fee.
Check out some Houzeo reviews online to find out what home sellers experienced selling with Houzeo.
Frequently Asked Questions
1) What is the cheapest way to sell a house?
The cheapest way to sell a house is to sell it "For Sale By Owner" (FSBO). You can save up to 3% on the sale price by selling your home without the help of a real estate agent.
2) What gives a house the most value?
The age and condition of your home. New houses typically sell for a high price. The fact is that critical parts of the house, such as plumbing, electrical, roof, and appliances, are newer. So they are less likely to break down, resulting in savings for a buyer.
3) What is the most profitable way to sell my house?
Knowing your local market, choosing the best time, setting the correct price, making minor improvements, and negotiating for the best deal. These are the key elements to consider when selling your home.
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