What Fees Do House Sellers Pay? Find Out From Alan of Pyramid Properties in Memphis, Tennessee

Memphis, United States - September 16, 2024 / Pyramid Properties LLC /

What Fees Do Sellers Pay When Selling a House? Expert Insights from Memphis, TN

Many Memphis homeowners don’t know how to navigate the expenses that often arise from selling properties. What fees do sellers pay when selling a house? Alan with Pyramid Properties explores some common closing costs for sellers below.

What Fees Do Sellers Pay When Selling a House in Memphis, Tennessee?

Cash home buyers in Memphis, Tennessee, know that selling a home isn’t always about potential profits. It also involves covering the services that make the property appealing as well as any leftover debts attached to it. When a seller knows what to expect from the selling process, they can budget and price the home accordingly.

Remaining Mortgage Balance

First, the homeowner must calculate how much they owe on their mortgage. Part of the property price should adequately cover the remaining loan balance. If they incurred late fees or other penalties, they should plan to settle those, too.

Agent Fees

When a homeowner works with a Tennessee real estate agent, they pay that agent through commission. The real estate agent commission is a percentage of the final sale’s profits. What fees do sellers pay when selling a house beyond mortgage balances and agent payments?

Property Preparation

Lots of work goes into making a property in Memphis, Tennessee, look more appealing. Some properties need:

Fresh coats of paint
Plumbing repairs
Electrical updates
New appliances
Landscaping services

Plus, many sellers preemptively hire home inspectors to find other essential projects to complete. Therefore, home inspection costs and preparation services will increase the seller’s budget.

Home Staging

Home staging involves making specific rooms look more marketable to buyers. This service often includes furniture rental, decluttering, and setting up specific spaces. After all, successful home sales typically involve selling a specific lifestyle to a potential buyer.

Taxes and Other Fees

Finally, the seller must wrap up a few details to close the deal. They might make seller concessions to sweeten the purchase for the buyer. Seller concessions may include covering the money needed to transfer taxes for the property to the new owner. The seller might also cover title insurance fees if the property has liens or encumbrances.

About Alan From Pyramid Properties in Memphis, Tennessee

What fees do sellers pay when selling a house? The fees may pile higher and deeper when a seller uses traditional means. Alan from Pyramid Properties has years of experience providing fair offers to Memphis sellers.

He knows the best time to sell a house and how to assist sellers as the leading cash buyer in Memphis, Tennessee. Readers can learn more by calling 901-504-5555.