Three easy-to-forget costs that all sellers should keep in mind.
Every time a homeowner sells their house, there are always a few costs that they forget about, and that can be frustrating when it comes time to pay them. If you’re planning to sell, the last thing you want is to be surprised by these costs. Here are the three most common surprise costs:
1. HOA fees. If you live in an HOA, there are usually documents and transfer fees associated with the sale of your property. Some condo communities might have costs of $300 to $1,000 that you’ll have to pay upfront during escrow. This can be super frustrating because you might already have the information and think you can just email it to the buyer. However, because of liability issues and rule changes, it’s always best to pay the HOA to do it instead.
2. Home warranty. Home warranties are one of the greatest things ever invented. With a home warranty, if someone buys your house and the dishwasher breaks right after, they’ll call a company that can fix it instead of calling you. Home warranties exist to protect you from the mishaps and issues that happen after escrow. They won’t shield you from everything, but it’s a small fee to pay for a lot of protection. Plus, it makes buyers more interested in your home.
3. We are in a fire-prone area. One of the newer practices is checking fire defensible space and prevention. If you have a home that’s at risk of wildfires, the city is now asking that the fire department check that the defensible space around your home is clear. This is to help us prevent fires in our communities, but it’s not free. A lot of homeowners forget this step, and it can cause delays, so it’s a good idea to do this task ahead of time.
If you have any questions about these three costs or real estate in general, feel free to call or email me. I would love to hear from you.