Profile picture for no1nate

How can I find out what costs are required of sellers in my state/county?

I can't afford to get a real estate agent, so am trying first to sell the home home myself (first time seller).  
  • June 02 2009 - Rush Springs
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Answers (3)

Best Answer

First, I'll make full disclosure; I am both a real estate agent&an attorney licensed, for both, in another state.

Despite the fact you think you think you can't afford a real estate agent, contact one anyway.  You may find out you can afford an agent, even if you think you can't.  If you find a good agent, the agent will sell your house much quicker than you can through internet marketing & open houses. And, you probably want to sell to a fist time home buyer who can qualify for the $8,000 tax credit (so the Buyer must own your house no later than 11/31/09). Interview at least 3 agents.  Don't interview someone who is known as a big lister - - you need an agent who provides personal service.  If you must sell, because you can no longer afford your home & your house is worth less than your mortgage balance, find an agent who is willing to handle a "short sale."  Ask each agent you interview to provide a CMA (Comparative Market Analysis), which will help you decide where to set the initial listing price.  Don't pick the agent who promises to list your home for the highest price.  Pick the one who gives the most compelling reason to start your list price & see if it relates well to the CMA.  Last of all, ask each of the agents to give you a Seller's Net Sheet.  You need to provide the agents with you current mortgage balance (first mortgage, equity line, second mortgage) & any liens on your home for back taxes, etc.  The agents can provide Net Sheets based on the listing price(s) you select.  The Net Sheets provide you with an estimate of what amount of money you will receive after the sale is closed.
  • June 02 2009
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Profile picture for JoshBarnettREIB
An easy and quick guestament on the cost of selling a home is 8% that is 6% Realtor Commissions and 2% Seller closing costs.  Now of course this number is different for every transaction (i.e. how much seller paid buyer concessions, Repair Cap, DPA...) all the items associated with Real Estate are negotiable.  If you need a more specific estimate, just send me the properties Sales price and I can give you an estimate based off of Oklahoma State Norms.   
  • July 15 2009
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I am interested in this as well. I have been trying to research online thru the state.gov website for my state. I am going to see a real estate attorney as another option to make sure I don't miss anything!
  • June 02 2009
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