Just How Much Will Listing Your House Cost You?

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Updated January 16, 2019
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Just How Much Will Listing Your House Cost You?

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Matt Tepp

Matt joined us in June and runs all things marketing. He graduated from the University of North Dakota in December of 2017 with a major in strategic communication and a minor in psychology. In his free time he likes to golf to with his dad, workout at the local gym, and watch sports. He is active in the Make a Wish Minnesota Organization.

The price to sell a house in Minneapolis can fluctuate greatly. It all comes down to the house itself, the needed repairs, the location, etc. Each agent will work a bit differently. Some will charge you for things, while others are “all-inclusive.” Before you commit to an agreement, find out what listing your house in Minneapolis will really cost you!

Upfront Costs

Cleaning

To create an environment that is appealing and welcoming, you will want to make sure the house is clean. You can do a good job yourself, but bringing in a professional to do a thorough cleaning of the house from top to bottom, can make the whole house look different. If you aren’t replacing the carpets or flooring, you will want to pay to have a professional clean those as well. Don’t neglect the outside. If you have a second story, it might pay off to hire a pro to come wash your windows!

Storage

Packing away all of your unnecessary items can be time consuming and just a pain. Personal possessions and clutter will not appeal to potential buyers. Having your items stored away will allow buyers a chance to envision themselves in the house. However, depending on how much you have, you may need to rent an offsite storage space or pod to hold your items, costing you money until you can move into your new home.

Repairs & Upgrades

Fixing and painting walls, replacing cracked tiles and smoothing floorboards are just the start of what may be a lengthy repair process when getting your home prepared to sell. You might also take this opportunity to make minor upgrades such as new fixtures or hardware. Spending money on these things can help improve the value of your home. You just need to be comfortable paying up front.

Landscaping

The front yard is the first thing people see. First impressions are everything when it comes to showings. If potential buyers pull into the driveway and see an ugly yard, it will leave a sour taste in their mouth before they even step into the door. Adding plants, flowers, new doors or fencing can help add a little curb appeal to your property.

While The House Is Listed

While the property is on the market, you will still find yourself paying to have it for sale. There are many expenses you will be paying during this time that you could avoid with a fast and direct sale upfront.

Monthly Costs

Even if you have moved out of the house, you still need to keep the water and electricity on for people viewing the home. You will also have to continue paying the homeowner’s insurance and property taxes up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.

Marketing

Professional photos, including drone shots that capture the home from all angles can be even more money out of your pocket. To successfully list your house, you will want to ensure there are great listings and great photography of the home. You will also need to stay on top of your agent marketing wise. Are they posting the listing on social media? In the papers? In real estate groups? Some agents are great when it comes to marketing, but you need to make sure they are posting your listing on every avenue possible to get the word out.

After An Offer Has Been Made

Once an offer has been made, and accepted, you will still be responsible for the insurance, utilities, and taxes up until the day of closing. Depending on the lender this could add several weeks to your time-frame. In turn, adding more money you are paying to own the home. Most offers are contingent on an inspection and appraisal process. You can avoid the below costs with a direct offer from a company who purchases as-is.

Negotiated Repairs

An inspection is required before the house and sold and if there is a major problem with the house, the potential buyer will likely request it be fixed before going through with the sale. (The bank isn’t likely to fund a loan for a damaged property either.) If your buyer decides to rescind the offer, you will need to disclose the needed repair to all potential buyers going forward.

At The Closing Table

Commissions

Once you are signing final sale paperwork, it is also time to sign over a check to your agent. This will typically run about 6% of the final sale price of the home.

Closing Costs

Many additional fees are lumped together as closing costs. These include document filing, title search fees, credit check costs, transfer taxes, property taxes and more. On average, this will run you another 2% of your final sale price.

Once you add up all the costs, you can see that listing may not be right for every property. Many people find greater benefits by choosing a direct sale! Run the numbers for yourself, and make the decision that works best for you!

Interested in selling without the traditional listing costs? We can help! Send us a message or give us a call today! (952) 649-3200

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Avatar
Matt Tepp

Matt joined us in June and runs all things marketing. He graduated from the University of North Dakota in December of 2017 with a major in strategic communication and a minor in psychology. In his free time he likes to golf to with his dad, workout at the local gym, and watch sports. He is active in the Make a Wish Minnesota Organization.

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Dale Helm
Dale Helm
12:55 08 Jan 18
I highly recommend the Home Guys if you are looking to sell your home. The process was very streamlined, transparent, and straight forward. I worked directly with James whom I found to be a very honest, caring, and ethical businessman.James truly cared about our needs and listened to our concerns. Because of James our dream of a new home became a reality. A huge selling point for us was the fact that this transaction could occur far faster than a normal one, without realtor fees, closing costs, or the typical red tape.We had never done this kind of thing (selling to a home improvement company) but now that we have - we are really glad we did. It was the right move for our situation. If you are considering selling your home to a home improvement company (flipper) I do not think you will find a better one than the Home Guys - I give them the highest of ratings.
Dana Rankin
Dana Rankin
22:22 23 Sep 18
Great team awesome company!
Julie Amber Gianera
Julie Amber Gianera
15:20 14 Jan 18
Easy, easy, easy! I highly recommend MN Home Guys and would absolutely use them again. It was about two weeks from first contact to close, and then closing only took 15 minutes. Great company, wonderful service.
Brian Tucker
Brian Tucker
20:30 09 Jan 18
Easy to work with, very reasonable offer for my property, easy closing. Great doing business with them!
Brent Brent
Brent Brent
09:25 10 Jun 17
I contacted to Minnesota Home Guys to purchase our first home and really can’t say enough about them. They are knowledgeable, approachable and very professional. Buying a home in this market is challenging, but working with Minnesota Home Guys made it as painless and straightforward as possible. I would highly recommend them.
Grant Jones
Grant Jones
10:11 03 Jun 17
One of the best and fast services provider. They provided me a fair price for my house. I am totally satisfied. Thank you!
Andy & Mandy Fobear
Andy & Mandy Fobear
17:28 29 Mar 19
They have been a great team with who we have done work. Very nice, honest and genuine. "Do things right" is what they have said AND done.
Katie Wilson
Katie Wilson
17:21 02 May 19
This company was great to work with, it was like going through a usually stressful experience with a friend in the know. They were helpful and courteous and most of all kind. They treat everyone with empathy in an industry where it's commonly lost. I'd recommend them to anyone!
Claire Almon
Claire Almon
17:03 06 May 19
I had a very time sensitive situation and I had never sold a house before. I didn’t know what I was doing AT ALL which made it incredibly stressful to navigate through the sale process especially with the added pressure of a deadline ...then I met James from Homeguys. He immediately calmed my fears, made everything seem so easy and manageable and even helped me look for a new place! I had receives several different offers from other home investor company’s but in the end, I am so glad I went with home guys. James (and his lovely, patient wife) put up with my endless, sometimes nonsense emails and questions so kindly and walked me through any and everything that i didn’t understand.. I am so grateful for their kindness and patience with me. In the end, Home guys made this whole experience so much easier than I thought it would be and it went just as quick if not quicker than I thought it would. I would recommend homeguys to any and everyone that will listen!
Jane Thomas
Jane Thomas
16:28 26 Aug 19
I am completely satisfied with the service from Mn Home Guys. Brad was so good to work with. He answered all my texts and emails very promptly. Closing was very easy. There was no double talk, high pressure, and I was able to think through what was best for me without any unwanted suggestions. I would definitely recommend Home Guys if you need to sell your home effortlessly. Huge thanks to Brad.
Steve Huso
Steve Huso
21:29 12 Aug 19
I was exceptionally impressed by the integrity and competence of Minnesota Home Guys. Their straightforward approach and honest evaluation of the facts was impressive and invaluable for my decision making process. They provided a skilled and through examination of my property to give a clear range of potential options, with additional information to evaluate each option. I worked with Brad Sauer and appreciated his expertise and communication skills. I especially appreciated the careful consideration of my needs and the absence of any sales pressure. I highly recommend Minnesota Home Guys.
Aaron hanson
Aaron hanson
15:39 29 Aug 19
Will not return my phone call. Purchased a home that they flipped and are regretting the purchase big time. Unfortunately they had the JV team doing the work inside. We are accepting the consequences and are doing the best we can to make it our dream house.
Christopher Peterson
Christopher Peterson
20:40 26 Sep 19
I was looking into having my place bought outright, but James suggested I sell the house outright to obtain more equity. We listed the house at $199,000 and sold it for $210,000! My realtor, Tim, was very knowledgeable and made the process as easy as could be. I am definitely going to hire Minnesota Home Guys for any other real estate needs in the future.
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