Making the Most of Your Real Estate Agent's Expertise

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Making the Most of Your Real Estate Agent's Expertise

Buying a new home is an exciting experience, but there is a lot that has to be considered if you want to make sure that your investment is a solid one. For example, while it isn’t required, it is a good idea to have your real estate agent hire an independent inspector to have prospective homes personally inspected for safety and condition before making an offer. Learning how your real estate agent can best help you before actually hiring an agent will ensure that the person you work with has the experience and ideas needed to get the results that you want. On this website, you can expect to find out how to find a great real estate agent and how you can best tap into the talents.

3 Things To Do To Help You Set The Asking Price On Your Home

As you get ready to call a real estate agent to list your home for sale, there are some steps you may need to take. Some of the steps will involve preparing your home for sale, and this can include making repairs and staging your home. In addition, you should also complete the following three steps to help you determine how much to ask for your house:

Find Out The Payoff Amount

One thing you should do when setting your asking price is find out exactly how much you owe on your house. Some people view their mortgage statements each month and are quite familiar with the amount they owe, but other people never think to look at this amount. Finding out how much you owe on it is vital, because you will have to pay the balance of your mortgage out of the proceeds from the sale. Knowing this amount can help you set an asking price that is high enough to cover this amount.

Determine The Approximate Closing Costs

The second thing to do is determine approximately how much you will have to pay in closing costs. The seller of a house typically doesn't have a lot of closing costs to pay; however, the seller of the house will have to pay the commission on the sale.

A real estate commission is usually around 5% to 6%, but this can vary. You can use this percentage to determine approximately how much you would have to pay a real estate agent to help you sell your home.

For example, if you think your house is worth around $200,000, you can estimate that the commission might be around $10,000 to $12,000 on the sale. By knowing this, you can figure this into your asking price to make sure you can cover this cost too.

There will be other closing costs that you must also pay, and you can talk to a real estate agent to find out more about these costs and the amounts. One type of expense you will have to pay is real estate taxes. You will be required to pay all the taxes on the house up until the day of closing, and this is a typical expense sellers often forget about.

If you have questions about selling your home, talk to an expert. Real estate agents specialize in helping people sell and buy homes, and you can call one today to learn more. Try Reece Nichols Real Estate for quality service.