Selling Your House in or around Los Angeles can be a euphoric experience. However, once escrow begins, the euphoria can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate.
Budget for Closing Costs, and Home Inspection, When Selling Your Los Angeles House
Closing costs simply refer to the fees associated with various things associated with the escrow process in a real estate transaction. In the excitement of having accepted an offer on your house, you can easily lose track of the fact you are not going to be walking away with as much money as you initially thought. Many people make the mistake of only assuming they need to calculate the real estate agents commissions, and then are shocked with the reality that there are other fees and costs.
If you are selling your home, you should get a professional home inspection, so you know where the problem areas of your house are. Doing so can and usually will reveal potential problems with the home that you wouldn’t otherwise notice. Getting a home inspection yourself will save you some shock because the buyer will definitely want an inspection before purchasing the property. Problems can include things such as rot, termites, water leaks and a bevy of other issues. The time to do this is during escrow. Of course, that means you are also going to have to pay for the inspection. Depending on the size of the property, home inspections can run a few hundred dollars up to a few thousand. Make sure you have money set aside for the fees.
And depending on what the home inspector say, you may choose the fix the issues before you list your property for sale or be prepared to have the buyer negotiate the price down once they see the issues brought to light by the home inspection. Those issues may costs a few hundred dollars to fix or several thousands of dollars to fix.
Hopefully, this article is helpful. Feel free to share it and comment below.
Also, if you are looking to sell your house in the Los Angeles area fast and not have to worry about having to fix up your property and paying closing costs contact us at 310-691-3119 or by clicking here, because we buy houses in and around Los Angeles in any condition, pretty or ugly.