Understand the 3 Costs of Selling Your Home in Texas

By Seychelle Van Poole

Seychelle is a specialist in meeting the needs of sellers and buyers, and serves as the Team Director for Van Poole Properties Group. Being named Top 30 Under 30 by the National Association of Realtors for 2011, Seychelle is an expert negotiator, marketing and sales analyst, and is dedicated to making the buying and selling process stress-free and enjoyable.

Are you planning to sell your home in Texas? Now is a great time to sell, as many homeowners have built substantial equity. However, it’s essential to know that selling your home isn’t all profit; there are costs involved that you might not realize when preparing your home for sale. Today, I’ll share the top three typical costs of selling your home and what you can do to prepare for them:

Pre-sale costs. These are expenses you should consider before listing your home on the MLS. They can include inspections, repairs, minor updates, and house cleaning. While these tasks aren’t 100% necessary, most agents will recommend doing some of them. Taking the extra time to make essential repairs and ensure your home is fresh, clean, light, and bright can help you get a higher sales price than if you neglect these things. I always recommend having a pre-listing meeting with your listing agent to discuss necessary items. Also, if you’re aware of any issues, disclose them to potential buyers, as disclosure is vital in Texas.

Selling costs. These are costs that come as part of a real estate transaction. They can include the listing agent’s commission, the buyer agent’s commission if you offer one, marketing costs, and more. In Texas, listing and real estate fees typically range from 2% to 7%. Different commission packages are available, and the cost is often paid when you successfully close your home. This includes services like photography, aerial photos, staging, marketing, signage, and more. Sometimes, agents charge additional fees for things like Facebook ads and professional photographs, so discuss these details with your agent.

Closing costs. These are expenses that occur when transferring ownership from one property to another. They can include title fees, escrow fees, title insurance (collected by the state of Texas), Homeowners Association fees, and paying off your loan. While seller concessions can be negotiated, specific fees are set by the state or your lender. These fees usually range from 0.8% to 1.2% of the purchase price and are collected at closing.

If you understand these potential costs, you can better plan for your home sale and maximize your net profit. While selling your home might involve some expenses, the potential financial rewards can be fulfilling. If you’re trying to figure out a personalized plan for you and your home, just call (214) 267-9222. I’m happy to schedule a one-on-one consultation because I want you to go in with your eyes wide open and fully understand the costs and work associated with successfully selling your home.