Selling Your Arizona Property?
When you make the decision to sell your Arizona property, you should know the typical closing costs that you will need to pay in order to net the most amount on the sell of your home. What you want to walk away with is more important than your gross sales price.
Regardless of how much equity you have in your home, you should get a accurate net sheet (this is a break out showing what you will walk away with) up front so that you can be prepared to make a decision quickly on any offer presented. That way you are always prepared to know what you are going to net when negotiating. So You Diffidently Want A Net Sheet!
I can't begin to tell you how many sellers list their property's with agents not even knowing what they will walk away with. If you don't have this information how can you accurately make a decision as the the sale price of your home?
A net sheet is one of the first things that you should find out from your agent. The net sheet will give you a accurate information on the Net Number you will walk away with after all typical closing costs for the seller. This is the number you should be most concerned with. When you have a net sheet done up front you will have the game plan you need to have a successful sell of your home.
Here's a good estimate of Arizona Closing Costs
Realtors Commission- Commissions should be around 5-6% of the sales price depending on your agent. The cost is usually something that leaves a bad taste in some peoples mouth. But if you've ever tried to sell a car before that had a loan on it you've already know how burdensome it can be. A agent that is a master marketer can more than make up for this and keep you from the brain damage of doing it on your own.
Title Fees- Title fees will always vary from each title company and on the price of the house, but most companies range from $1200 to $3000 when you get in to luxury homes.
Property Taxes- Property taxes are prorated at closing for taxes accrued but not yet due and payable, based on the yearly tax amount and the closing date.
Payoff To Any Existing Loans- This is the payoff to your loan. Anything left after all fees is what you will net on the transaction.
Optional Cost(s) Of Selling A House In Arizona
We've gone through most the unavoidable costs of selling your home in Arizona, but their are some other things you might want to consider doing to increase the chances of selling your home.
Staging- Car dealers detail cars in order to sell them faster and it shouldn't be any different with your home. The better it looks and the more the person looking at it can feel themselves living in it the better off you are.
Repairs- Once a buyer has made the decision to buy your home they will go through a home inspection. Most houses always have a little something that will need to be done and the buyer will usually ask you to repair it.
Closing Cost Credits- Home buyers have a number of fees that they are responsible for themselves, particularly when getting a mortgage. In most cases, the seller can contribute a portion of the fees on behalf of the buyer. In slower markets this is fairly common, and range from 3-4% in Arizona of the sales price.
These are most the cost involved with when selling your home. Their are always a few other fees but these are the biggest that you will run across. Now you have the knowledge to know where you will stand every time when a offer comes your way when selling your home. If you would like a precise closing cost estimate on your home please email [email protected] I will put together a net sheet specific to your property.
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