Let’s consider the cost of selling a house! There are a few things to consider. Remember the buyer pays most of the costs but the cost of selling a house if you are selling a house, comes with a few costs and liabilities.
Cost Of Selling A 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 a 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%.
Sell A House Fast With KW Select?
We recently covered this in an article “Sell a house fast with KW Select“. Partner with an expert estate agent when you sell a house. The cost to sell a house is unavoidable. But the cost of not working with a great Agent can be more expensive than you think, especially if your house stands on the market for too long. Now that cost can be avoided with the No 1 brand in global real estate.
Book Your Property Valuation
If you are in the market to sell a house fast and you now know the cost to sell a house, KW Select can and will assist. We have the technology and the experience to sell faster than most and more consistently too. We know how to price and we just know how to end up with a situation where all parties to the sale end up with a win-win solution at the end. Click here to find out more about KW Select.
And click here to book your property valuation with a great Agent from KW Select.
