Home Selling in 98075>Question Details

Alanvc, Home Seller in 98075

I would like to sell but I owe 350,000 on my home and the market on my home is around 400,000 what kind of cost am i looking at with a realitor

Asked by Alanvc, 98075 Thu Jul 15, 2010

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Hi Alanvc,

You can anticipate approximately 9% in closing costs and of course, commissions are negotiable. If you want to get a very quick estimate on your home's value, on my website, http://www.karenmcknight.com , you can find a comparison between a Zillow and a Cyberhomes estimate.

Of course, these are definitely guestimates, and it may be worth your time to meet with a knowledgeable, experienced, effective Realtor for a PinPoint Price Analysis.

0 votes Thank Flag Link Fri Jul 23, 2010
can range from 0 to the 6% of sales price range
0 votes Thank Flag Link Fri Jul 16, 2010
The Cascade Team is a full service sompany serving Sammamish that charges only 4% total commission. You still have the WA State 1.78% so figure a total of 6% From a $400,000 home oweing $350k you would net around 25k. Of course that is based on getting the full $400k. You can check out the marketing and commission plan below.
0 votes Thank Flag Link Fri Jul 16, 2010

You have a lot of good answers here already. Commissions are all negotiable. But what you are paying for, from the listing agent, is service,& marketing. You may also be paying for the agent to take the risk on whether the house sells or not, depending on whether you pay on a % or on a fee for services basis. I would be happy to send you any information you would like by email, just let me know. By the way, it is a fact that you will probably net a lot less money without using an agent then if you do.

I would suggest that as a seller, you Google every agent from the area that responds to your question here on Trulia, learn as much as you can about who they are online, read their client testimonials, so you know what their clients are saying about them, and then give us each a call and just ask us why we think you should work with us instead of another agent. Notice how much exposure their listings are getting. Then, pick the best fit for you and let them go to work for you with the skill and knowledge that they have. I hope to hear from you soon.
0 votes Thank Flag Link Thu Jul 15, 2010
Hello Alanvc,
The first four answers given at the time I'm responding all contain good and mostly accurate information in my professional opinion. I too would love an opportunity to hear what your goals and plans are for the future, take a look at your home and discuss with you the services I offer and see if I offer a marketing plan you would be interested in. I am also happy to, in advance, prepare a market analysis and an estimated sellers net proceeds (I can email these to you) so you can see line by line what the escrow fees, state excise tax, commissions etc will end up costing based on an estimated sales price. Please don't hesitate to let me know if you'd be interested in further discussing the sale of your home.
All the best,
Christine Viernes
0 votes Thank Flag Link Thu Jul 15, 2010
It's going to be pretty close, so best to find an agent who is flexible, and is willing to reduce the cost to whatever is going to clear the table, without your having to bring money to closing. I would consider that type of arrangement. I'm assuming a $399,950 asking price and a $390,000 sold price. You need a little room for Home Inspection negotiation.

Any real estimate should include a visit to the home to second guess what the buyer may want on inspection. If the roof has at least 5 years left on it, that should not be a big problem. Also the payoff will include principal plus one month's interest, as interest is paid in arrears. Total costs are going to be 8% to 9% including excise tax, owner's title insurance, 50% of the escrow fee and other misc costs of sale.

You will need to do the calculations with a very sharp pencil to avoid surprises at the end. If you are not currently making payments, the net will change each month. So hopefully your payments are not behind and you will continue to make them while the home is on market. Give me a call if you would like me to stop by and explain the likely scenario from start to finish. I need to see the house to do that, and over-estimating the sold price by even a small amount could send it sideways quickly Best to use conservative numbers from the start.
0 votes Thank Flag Link Thu Jul 15, 2010
Thanks for the question. Realtor and agent fees vary from limited service companies putting your home on the market for a few hundred dollars, plus whatever selling office commission you are willing to pay to 6% of the selling price for a full service agent.
On top of these fees you'll pay a State Excise tax of 1.78%, Title Insurance and Escrow fees. A shorthand method is to cap things around 8%.
I live in Sammamish and and work predominantly here too. I would appreciate the chance to discuss this with you fully in greater detail. Please don't hesitate to call me for an interview to see if my services would be a good match for your needs.
Dan Tabit,
0 votes Thank Flag Link Thu Jul 15, 2010
Alanvc - All commission agreements are negotiable. I wou;d interview a few local agents in your area or go by word of mouth to get to a listing agent. Commission will vary but a good rule of thumb woudl be somewhere between 5-7% of the actual selling price. I would however (and it will cost you nothing) is to have a local agent run a CMA to see what you might be able to get in this market for your house. You say your house is worth around $400,000 but what is that based on? Having an agent run a CMA will give you a play by play or active, pending and most importantly sold comps in your area that are comparable to your home. Based on teh info obtained ypur house may be worth more or less. Good luck....

Jason Stevens
0 votes Thank Flag Link Thu Jul 15, 2010
Commission structures vary from area to area and even within an area by Agent. I suggest you interview at least 3 agents in your area to determine what the Realtor costs will be and keep in mind, you will often get what you pay for when it comes to hiring an agent. A good agent can minimize your holding costs while the house is on the market as they are able to get your home sold quickly and for top dollar. Choose wisely!
0 votes Thank Flag Link Thu Jul 15, 2010
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