Sell my house! Let’s look at the process and the costs involved when you sell your property or a family home. Let’s also consider the process and the steps involved. We will soon cover all the info you need to understand what an Offer to Purchase is and what to be mindful of as a seller and a buyer.
Costs when asked to sell my house
- Compliance certificates: As the seller, when you sell a house, you are responsible for all costs to obtain electrical compliance, an electric fence, and a gas certificate of compliance, across SA. Coastal regions also have other requirements like beetle and water certificates of compliance.
- Estate agents commission: This value is initially expressed as a percentage on the mandate that you signed. Did you know that it is not uncommon for the commission to vary between the type of mandate that you settle on? The actual value is confirmed in writing once an offer to purchase is prepared. The OTP will present the actual value in numbers and words. And this value is often settled directly by the attorneys that are working on the registration of the property.
- Rates clearance figures: As the seller, when you sell a house, you are also responsible for obtaining rates figures. Any outstanding monies from the monthly municipal accounts and also rates and taxes must be settled before registration can continue. This also includes any outstanding levies owed to a body corporate or even SARS.
- FICA fee: Although this is a notional value.
- Bond cancellation costs: Banks require that you, the seller give them 90 days’ notice. Avoid penalty interest charges on bond cancellation. Let your home loan provider know of your intention to sell at the outset. Remember to factor in the bond cancellation costs as well. Not all banks waive this cost, especially if you take out a loan with a different mortgage lender on your next home.
- Moving costs: After you sell a house, you will need to consider the moving costs. When you move, be sure to phone around for a furniture removal or relocation quote. Remember peak times for moving are at month-end and at year-end.
- Sales Commission – between 5% and 7,5%.
Things to remember
When asked to sell my house, remember you will in all likelihood sell your house and buy another. Need a free property valuation, click here. Why not browse our Keller Williams listings and remember we cover the entire SA and you can view from one place. Also, remember when you sell and do buy another we can help you with a pre-approval and we cover the benefits of doing this in detail. We are here to help you whether you are selling or buying.
Costs you want to avoid
There are two other costs that nobody really mentions that you want to try and avoid and these include:
- The legal fees that are concerned with the non-disclosure of latent and or patent defects are to be avoided at all costs. Lawsuits can be costly and Voetstoots does not protect dishonest sellers.
- Also, are your building plans up to date? If not with SPLUMA coming into play later this year, this may add to the costs you are planning on spending.
How can we help you sell your property fast?
When you decide to sell your property the costs to expect when you sell a house can really take you by surprise. Especially if you are not expecting them. You will be happy to know that a Keller Williams estate agent will always provide you with a free property valuation and we will also include a CMA and what goes into preparing an accurate market-related property valuation. Book your valuation now.
Keller Williams for a free property valuation
- When you sell a house you will want to understand the value that properties in the area recently sold for. This normally covers a 6-12 month window.
- You will know what the asking price is of the properties that are in the market in close proximity to your house.
- Your agent must help you understand the importance of the right asking price. This is really is your biggest decision when you decide to sell your home.
- Be sure to ask the estate agent you choose to work with for more info about the current market conditions. When you sell a house, know that we currently find ourselves in a buyer’s market in SA and that means there are more properties on the market than there are buyers. The right asking price is therefore critical if you want to sell fast and for the best price possible.
Keller Williams is the fastest growing real estate brand in SA and we have an agent, almost 1,500 on quite a few street corners. Let us schedule a free property valuation for you, complete with a CMA, etc. We close more transactions and faster too because of our Keller Williams, which we share, and that goes for buyers and sellers. Bet on Red with Keller Williams and click here to schedule your valuation today.
Why you should bet on Red with Keller Williams
Keller Williams uses the culture of the brand to generate success. Keller Williams is also the largest franchised real estate brand in the world. With almost 1,500 estate agents across SA, what makes Keller Williams different is our value system. You see the Keller Williams business model is built on sharing. Meaning that 1,500 agents across SA all have access to you your listing. Every single one of these agents has buyers for properties that have either been on the market or are currently on the market. We leverage these buyers across areas and the entire model is driven by a win-win solution for all, or the deal is off. So, you don’t have 1 agent working on the sale of your property, you have almost 1,500 agents involved. But you only deal with 1 agent. And you only have 1 board on your pavement.
Estate Agents – want to know more about KW?
Keller Williams (USA) is a top real estate brand to work for. If you are an estate agent and want to know a little more drop me an e-mail. If you would like to leverage world-class technology to the benefit of all our stakeholders across the value chain and end up with a win-win every time, then let’s touch base. Also, read what makes Keller Williams the best!
Get in touch
So, if you need a valuation done on a property anywhere in Randburg or elsewhere in Jhb, we can help. Give us a call on telephone number (064) 549-3123. Alternatively, drop us an e-mail at kwselect@kwsa.co.za. We have a vast network of almost 1,500 top Keller Williams agents at our fingertips who are all just dying for the opportunity to partner with you to sell and conclude your property transaction in record time.
If you want to view all the Keller Williams properties across the country, click on our website to start the search for your dream home. Need help getting a pre-approved homeloan, it’s free and our strategic partners will find you the best rate over 20 years! And finally, if you are thinking of putting your property on the market and need a free property valuation, click here!
