It costs roughly 15 percent of the selling price to sell a house. But keep in mind the actual cost of selling a house depends on many factors including the appraisal price, market demand, the repairs or upgrades you make, and real estate agent fees if you use an agent (which we recommend you do).
The total cost to sell your house will also vary based on where you live and the condition of your house at the time of sale. For instance, a seller listing a house in a “sellers market” will likely be able to charge more money making the 15% cost to sell a house shrink. And vice versa. If you list in a “buyers market” you could see the 15% cost to sell a house increase because you have to compete with the other houses in your stratified market.
Another example of how these costs can change is if your house fails parts of the inspection. Failing inspection can lower the total value of the home so you make less, or the buyer could require you to fix them adding an additional cost.
If you’re worried about having to take all the costs and reducing how much you can make on your home, don’t be. Depending on your deal and means of selling (using an agent versus selling on your own), many of the costs can become the buyer’s responsibility. So lets jump in and look at which costs can be yours, both parties or the buyers responsibility.