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You Will Be Stunned By How Much It Really Costs You To Sell Your Home! |
When most people first think about selling their home and what they will receive from that sale, they think in terms of the difference between what they are asking for the home minus what they currently owe on it. For example, if Bill and Sally decide to sell their home for $150,000 and they owe $140,000 on their mortgage, they initially have a hefty $10,000 profit dancing around in their heads. Not bad...if that were true! Unfortunately, it's not. Here's the letdown...
The real cost to sell a home in the traditional manner can be a real shock to the system when you look at it on paper. Let's go back to our example. First of all, Bill and Sally are looking at, on the average, 120 days (4 months) until the home is sold and another 45-60 (2 months) for their buyer to have financing approved. With that in mind, here's the bad news: |
National average for the actual selling price of a home versus the initial asking price is 3% less. |
$145,500 (3% of $150,000) (Actual Selling Price) |
Sales Commission to the Realtor is 7% (Indiana) |
$10, 150 (7% of $145,500) |
Appraisal |
$350 |
Home Inspection |
$325 |
Lot Survey |
$300 |
Holding Costs (mortgage payments, taxes, insurance, utilities, maintenance) |
$7,200 |
Home Warranty |
$400 |
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TOTAL "REAL" COSTS TO SELL HOME |
$23,225 |
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Please don't shoot the messenger. We are just as shocked as you are...but the numbers on closing statements don't lie. Even if we make these numbers 25% lower, it would still cost Bill and Sally $17,419 just to sell their $150,000 home!
Let's do the math...
$145,000 Sales Price
-$140,000 Loan Balance
-$17,419 Cost to Sell
<$17,419> Amount Bill and Sally must pay to sell their house!
Aaaaaaaaaaaargh, OUCH!!!!!!
What will Bill and Sally, and thousands of other home sellers do when it comes time to sell their home and they realize they do not have enough equity to cover their expenses?!! |
What will they do?
They will call Us
Spinnaker Properties, Inc.
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We will BUY your home in AS-IS condition, close quickly, take care of all the paperwork & closing costs.
With our innovative approach to Buying Houses "Subject To the current existing mortgage staying with the home in the homeowners name", we can close in as little as 7 days or less (if needed). For the convienience and peace of mind to the homeowner, we will ask for a discounted price when buying your home in AS-IS CONDITION.
Now all you need to do is decide, do I want to wait around and list with a Realtor and see if and when my home even sells on the competitive Indy retail market, OR do I pick up the phone and call
Spinnaker Properties @ 317.856.1479 and have it sold Today?
ITS YOUR CHOICE! |
p.s. - Courtesy note
Something to think about;
When your home is VACANT longer than 30-60 days, you might need to obtain a more expensive non owner occupancy insurance policy to cover your home. If something was to happen to the home without this coverage, the original homeowner insurance policy that covers that home might be VOID.
**Always consult with your insurance agent to see what is best for your situation** |
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