Thinking of selling your house in Burlington or Camden County? It’s an exciting time, but understanding the financial picture is crucial. While visions of dollar signs dance in your head, remember, selling a home involves more than just the sale price. There are expenses to consider.
This blog will break down the costs associated with selling your home in these New Jersey counties.
The Big Ticket Items:
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Real Estate Agent Commissions: This is typically the largest expense, averaging around 5.21% in New Jersey. It’s split between the listing agent (who represents you) and the buyer’s agent. Negotiating a commission rate with your agent is possible.
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Closing Costs: These fees, typically 2-3% of the sale price, cover various expenses like title insurance, recording fees, transfer taxes, and prorated property taxes. Be sure to factor these into your budget.
Beyond the Basics:
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Prepping for Sale: While not mandatory, sprucing up your home can significantly impact the sale price. This might include minor repairs, staging, or deep cleaning.
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Marketing and Advertising: Eye-catching photos and virtual tours can attract buyers. These costs can vary depending on the services you choose.
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Attorney Fees: An optional but recommended expense. A real estate attorney can ensure a smooth closing and protect your interests.
Understanding Your Location:
Burlington and Camden Counties have different housing markets. Knowing the median home prices in your area (https://www.redfin.com/county/1893/NJ/Burlington-County) can help estimate potential closing costs based on percentages.
Keeping Costs in Check:
- Shop Around: Compare closing cost estimates from different title companies.
- DIY Some Services: Consider tackling minor repairs yourself to save money.
The Takeaway:
Selling a home in Burlington or Camden County involves various costs. By being proactive and informed, you can make informed decisions to maximize your profit and navigate the selling process with confidence. Remember, consulting a local real estate professional can provide valuable insights specific to your area. Happy Selling!