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How Much Will it Cost to Sell My Fresno or Clovis Home?

The Honest Truth About the Cost of Selling A Home In Fresno!

The Cost of Selling!

The Cost of Selling!

No matter the doom and gloom of the economic and political news, most Americans still believe in the value and long term investment of home ownership.  Here in Fresno we have no doubt been hit hard by the housing crash and yet have also benefited from a depressed and down market.  If you are a home buyer in Fresno right now you are in a great position to make a great long term investment at historically low interest mortgage rates.  On the other hand if you are attempting to sell your home in today’s market it can be a gut wrenching endeavor.

The bottom line is that a qualified and knowledgeable REALTOR is your best option for finding the right Fresno home buyer.  You will pay a premium for a good REALTOR and yet the truth is that you will have the best opportunity to get your home sold and to navigate this ever changing market. A great REALTOR will help you value and price your home right from day one and market your home aggressively.

Some Fresno and Clovis homeowners opt for the FSBO route.  Although this option may appear to save you the most money and give you the most control over pricing and terms, the opposite is typically true.  This option tends to take more time and make buyers hesitant to approach sellers with offers.  Read the Top 5 Reasons why FSBO’s Don’t Sell.

So what will it cost me to sell my Fresno home?

“Typical” residential Real Estate Brokerage Fees in the Fresno and Clovis area range from 5% – 6% of the purchase price.  The basic breakdown looks like this…

Purchase/Sales Price = $250,000 x 5% (2.5% to the listing agent & 2.5% to the selling/buyer’s agent) = $12,500 in commissions.

3 Additional Costs to Consider:

  • Title and escrow fees will also apply to the sale of your home.  Costs vary but are roughly 1-1.25% of purchase price.  Check out Chicago Title for more information about closing costs.
  • Buyer Credits.  Most buyer’s in today’s market will request closing cost concessions from the seller.  Both bank owned homes and short sales will provide up to 3% of the purchase price as a credit to the buyer.  Unfortunately, many buyers are short on cash so they will look to offset the cost via the seller.  Ouch, I know!  This is not required of the seller and a good REALTOR will be able to help negotiate these costs down or out of the deal.
  • The time cost.  Although this one is hard to measure it is very real.  For some sellers who need to sell due to relocation or some other life change or circumstance, this can be the most important.

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