7 Extra Charges You Need to Know When Selling your Home

by RobertKeith

Selling your home can be almost as stressful as buying one. You constantly have to worry about how your agent is doing, whether or not your home is priced for the market, schedulin

With so much stress to deal with while waiting to sell a home, it's no surprise that sellers fail to identify the outrageous charges paid during escrow. If you plan on moving out in the near future, use this guide to help you figure out what 7 extra charges you can avoid when selling your home:

Solicitor Fees

In short, a solicitor is hired prior to the start of the sales process. He or she will ensure everything is in order from a legal basis and that the process runs smoothly. Solicitor services are highly specialized, which is why they can be so expensive.

Selling House

If you plan on listing and selling your home the normal way, a solicitor might be an essential part of the process. You can avoid paying solicitor fees by selling to a company that specializes in buying real estate. A solicitor is not needed because someone at the company is paid to perform the services already.

Estate Agent Fee

An estate agent is a professional you hire to help sell your home. While not a requirement, selling or buying a home without an estate agent can be a nearly impossible task.

Estate agents usually charge between 1 and 3 percent of the total sale price as a commission. The best way to avoid paying outrageous commissions is by selling to a company or using another online service to sell your home. Online estate agent services are more affordable and can be just as effective.

Remortgaging Fees

One of the catches of selling a home is that your mortgage company might charge you fees for paying off the loan early or paying fees for transferring the mortgage to a new property.

These fees can be extremely difficult to remove, but it's worth a shot. Speak with a qualified individual about your situation. You might be able to negotiate lower fees if you threaten to take your mortgage business elsewhere. If you plan on buying a new home, you might be able to get the remortgaging fees waived altogether.

Energy Performance Certificates

Also known as EPCs, these certificates must be provided by the seller during the final stages of the process. An EPC includes information about the property's energy efficiency and gives it a specific ranking.

If you purchased your home less than 10 years ago, do not arrange to have an energy assessor come to your home to provide an EPC. The certificate is good for 10 years, regardless of how many times the home has been sold.

Staging Costs

Prospective sellers who visit your home want to imagine themselves living there. Showing an empty home can ruin your chances of receiving attractive offers. Make sure your home is clean, organized and has enough furniture to be presentable.

Luckily, you don't need to hire a staging company to do this. Simply remove any old, worn out pieces of furniture from your home, and neatly organize your remaining items. Staging your own home can net you savings in the thousands.

Home Cleaning 

Cleaning your home before you sell it is an essential step in the process and should be done prior to staging your own furniture. Not maintaining a clean home can be cause for a buyer to back out of the process or demand excessive cleaning fees.

Do not hire a cleaning agency. Spend a couple of hours every week while your home is on the market and clean the property from top to bottom.

Inspection Repairs 

Inspections are important because they help determine the actual condition of the home. When you sell your home to a private party, you always run the risk of a negative inspection report.

In most cases, the only way to solve this issue is to pay for the repairs yourself. Avoid these excessive fees by selling to a company like Flying Homes, a fast online property buying service. You'll receive a real quote to buy your home without having to deal with any unnecessary fees.

Updated: 10/10/2019, RobertKeith
 
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blackspanielgallery 12 days ago

It is also wise to purchase title insurance, which may be required by a lender. You must be able to prove the property is owned by the seller, and no other person will make a claim later. Also, lenders require insurance, such as fire. In some areas there is a need for flood or for earthquake insurance.

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