How Much Will It Cost To Sell My House In Albuquerque NM?
You may be asking yourself how much will it cost to sell my house in Albuquerque NM? This is not a simple question and can vary on a number of items. This article will help guide you through what to expect and how to determine how much it will cost to sell your home.
Real Estate Commissions To Sell My House In Albuquerque
Real estate commissions are the largest expense in how much will it cost to sell my house in Albuquerque NM. Real estate commissions are set by each individual real estate brokerage. There is no state or local regulation when it comes to real estate commissions. Each real estate brokerage is free to set their own real estate commission. My experience is most full service real estate companies are charging between 5% to 7% (make sure you ask your real estate agent how much they charge) of the sale price of your home. You will also pay New Mexico Gross Receipts (NMGRT) on the real estate commission paid. The real estate commission and NMGRT are split between the buyers agent and your listing agent. The split between the buyers agent and your listing agent will be determined by you and your listing agent. In many cases the real estate commission is split evenly. However, make sure to ask your real estate agent. Many real estate companies also charge transaction fees. Make sure to ask your real estate agent if there are any additional costs or transaction fees. Call us to discuss our exclusive flexible real estate commission
Real Estate Closing Costs To Sell My House In Albuquerque
Seller Closing costs also determine how much it will cost to sell my house in Albuquerque NM? Closing costs are negotiable when selling a house. There are customary closing costs paid by the seller and the buyer. It is customary for seller to pay for the appraisal, tax service fee, flood zone certification, closing fee, pro-rata data search fee, legal document preparation, special assessment search, seller recording, title commitment, owners title policy insurance, survey, HOA transfer fee, and HOA disclosure certificate fee. These fees will add up to approximately 3% to 3.5% of the sales price of your home. Call us to discuss how you may be able to save money on your closing costs.
Home Inspections Costs To Sell My House In Albuquerque NM
It is customary for sellers to pay for inspections on your home. Buyers have the right to choose their own inspectors. Buyers have a host of home inspections they may request on your home. Home inspections are dependent on the home, home construction, amenities, and location. It is impossible to provide an estimate of home inspection costs. Home inspectors charge what the market will bear. Buyers may also request the seller pay for a one year home warranty. Call us today to discuss our strategies to minimize your inspection costs.
Home Repair Costs To Sell My House In Albuquerque NM
Buyers will request the seller to make repairs to the home based on home inspection. Buyers have the right to terminate the purchase agreement if the buyer and seller do not agree on repair request. Home repairs can be very low to very high. Call us to help you develop a strategy to minimize surprises with home inspections.
In general, home sellers can expect to pay 8% to 10% or more of the sale price in real estate commissions, real estate transaction fees charged by some real estate agents, closing costs, inspections and repairs.
Call us at 505 401-7500 to discuss our strategies to minimize your costs with selling your home.