What you "net" is all based on what you owe. You should contact a couple of local Realtors who can sit down with you and explain all of the closing costs involved. They can also give you an estimated "net proceeds" figure after you pay off your mortgage.
The biggest expense is going to be the sales commissions -- which can run anywhere from 5-7% (and gets split between buyer's agent and listing agents' brokerage firms). Not sure what's typical for your area. Then you usually have to pay for title insurance (which varies, depending on the sales price of the home, and what other title work is needed). For $100K home, I'm guessing title insurance might be a few hundred? On top of that you'll have to pay a pro-rated amount of property tax you owe for the year. (sometimes this is being held by your mortgage company in escrow, so that money would come back to you). Not sure if attorneys are required in TX? That could be another expense.
Again, I'd talk to a few Realtors who can give you a better idea of what the costs are in your area.... more
There is some assistance available. Realtor can help you with contract part for a flat fee. You would just be responsible for showing and advertising. That is usually what your realtor would do for you. Want more info feel free to call me 254-466-0176 Bonnie Dominguez... more
I think it's a really good time to sell. Market definitely getting better and buyers are looking for more to choose from. Give me a call and we can talk more details. I would love to earn your business.254-466-0176 Vista Real Estate... more
If you've only been there a short time, you are probably caught in the trap of not having much negotiation room on the price. It's tough! You might consider leasing, then you can live someplace else very inexpensively while you sock away cash to bring to the table to close. It isn't a great plan, but maybe only temporary.... more
Honestly if you are not getting traffic you are overpriced. After pricing it comes down to condition. Your best bet is to go out with a Realtor and look at your direct competition. That is the only way you will truly understand the market and how your home compares.
Contributing to closing costs and paying points etc. don't really help in my opinion. When an offer is made those items can be asked for and if you give them away upfront you are only hurting yourself. Price the home right it will sell. When you price it incorrectly and it sits you have lost your one opportunity to be new on the market. Make your adjustments now and quickly or you will keep costing yourself additional money.
If you were to look at a graph of a home listed on the market and the sales price over time it would be an inverted curve. Homes that sit on the market always end up netting your less. Price it right and you may end up getting multiple offers netting you even more than you expected. Do the opposite you your home becomes stale and will be overlooked... Right now buyers are choosing other homes and not yours... the answer is simple but doing what is needed is not always evident to most sellers. You need to look at your home as a commodity on the market and make sure it compares favorably to the others homes you are competing with.
Best of luck to you.
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