For a seller, it’s important to calculate all the typical cost associated with selling your home. Some of the largest costs are:
- Commissions – For the average single-family home to be sold in the Tamp, St Petersburg, or Clearwater area will on average incur approximately $14,000 in commission (some are obviously MUCH higher and some a little lower).
- Time – As we all know, there is a substantial cost associated with the holding time of a home. The costs usually include mortgage, Primary Mortgage Insurance, insurance, Flood Insurance, Taxes, HOA fees, and depreciation of aging components like roofs, appliances, air conditioning systems, etc. Then there are utilities like electric, water, cable, and internet which you may be paying every month. To sum it up, time is usually one of the largest, and most often forgotten about costs when selling a home on the retail market.
In addition to cost, there other risks that come when selling to a retail buyer
- There is always the risk of your deal going south. The retail real estate market typically comes with a lot of contingencies like appraisals, inspections, financing, and underwriting. A misstep with any one of these may cause the contract fall apart. This, unfortunately, happens a lot and there is almost never any recourse or compensation for the seller. When this happens it’s often extremely frustrating and can at a minimum cost you… yes, you guessed it, more time.
- While the market has been hot in many acres over the last several months, there is some trending data (any homeowner can get an idea of what’s happened in their neighborhood by looking at Zillow) where many pricing analytics have fallen slightly over the last 30 or 60 days. So, that is also taken into consideration if you want to sell your home in the least amount of time as possible.
- In General, real estate in the Pinellas, Hillsborough, and Pasco Counties are expected to increase on average between 2% and 5% per year over the next few years.
- Investing your equity elsewhere should also be a major factor when weighing the pros and cons of how to sell your home. Even if prices continue higher at a modest pace, you risk the eating up any additional appreciation in the holding cost of the property.
While the retail market can be challenging and expensive, we offer a fair, honest and , ethical offer to buy your home today - In any condition and under any circumstance.
The good news is that we are not a one dimensional “Home Buying” or "We Buy Houses" company. We’ve always run real estate companies that don’t follow the traditional path. We are a licensed brokerage, Realtors, and members of the local MLS Board and Realtors Association. We thinke outside the box and find solutions to real just bout ny reale estate problem or situation. (read more in our About Us section). If you were to decide that an instant cash offer is just too low for your liking, and you’d prefer to go the more traditional route, then we do offer home selling solutions to minimize your commission and maximize your net proceeds at closing. For as little as 3% total commission, you can take advantage of out full-service we can help you take on the challenges of the retail real estate market with our single Broker Listing Plan.