Home-Selling FAQ
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How much does it cost to sell a house?
Total selling costs often land somewhere around 8-10% of the sale price once you add everything up. The biggest pieces are typically agent commissions (commonly around 5-6% combined when both sides are paid), closing costs and title fees, any repairs or concessions you negotiate, and moving expenses. Your exact number depends on your state, your contract, and how you choose to sell.
How long does it take to sell a home?
In a balanced market, many homes go under contract within a few weeks to a couple of months, and then closing usually takes another 30-45 days if the buyer is financing. Hot markets move faster and slow markets take longer, so recent nearby sales are a better guide than national averages. Pricing correctly from day one is the single biggest factor you control.
Do I need a real estate agent to sell?
No — selling by owner (FSBO) is legal everywhere, and discount and flat-fee brokers offer middle-ground options. An agent brings pricing expertise, marketing reach, and negotiation help in exchange for a commission, while FSBO saves the listing fee but puts all of that work on you. The right answer depends on your market knowledge, available time, and how complex your sale is.
How do I figure out what my home is worth?
Start with recent sales of genuinely similar homes nearby — same area, size, condition, and age — which is the basis of a comparative market analysis (CMA). Online estimates are a rough starting point, but they can miss condition, upgrades, and street-level factors. Agents typically provide a CMA for free, and a paid appraisal is another option if you want an independent opinion.
What are closing costs for a seller?
Seller closing costs typically include title and escrow fees, transfer taxes where they apply, prorated property taxes, mortgage payoff amounts, and any credits you agreed to give the buyer. Setting commissions aside, these often run somewhere around 1-3% of the sale price, though it varies a lot by state. Your title or escrow company itemizes everything on a settlement statement before closing.
Who pays the real estate commission?
Traditionally the seller has paid the commission out of the sale proceeds, with the total split between the listing agent and the buyer's agent. Commission rules and norms have been shifting, and everything is negotiable — who pays what should be spelled out in your listing agreement and the purchase contract. Combined commissions have commonly run around 5-6%, but there is no set rate.
What is escrow?
Escrow is a neutral third party — often a title or escrow company — that holds the money and documents while a sale is in progress. The buyer's deposit sits in escrow, and at closing the escrow holder pays off your mortgage, distributes funds, and makes sure the deed transfers correctly. It protects both sides by ensuring nobody hands over money or ownership until all conditions are met.
What are contingencies?
Contingencies are conditions written into the purchase contract that must be satisfied for the sale to go through — most commonly inspection, financing, and appraisal contingencies. If a contingency isn't met, the buyer can usually back out and recover their earnest money. Fewer or shorter contingencies generally mean a stronger, more certain offer for you as the seller.
Can a buyer back out after we're under contract?
Yes, in certain situations. Buyers can typically walk away without penalty while a contingency is unresolved — for example, if the inspection reveals problems or their financing falls through. Once contingencies are removed, backing out usually means forfeiting the earnest money deposit, and the contract spells out exactly what happens.
What do I have to disclose to buyers?
Most states require sellers to disclose known material defects — things like water damage, foundation problems, roof leaks, or pest issues — usually on a standardized state form. Federal law also requires a lead-paint disclosure for homes built before 1978. When in doubt, disclose: failing to reveal a known problem is one of the most common sources of post-sale lawsuits.
Should I sell my house as-is?
Selling as-is means you won't make repairs, which saves time and upfront money but usually attracts fewer buyers and lower offers. It can make sense when the home needs major work you can't fund, or when speed matters more than price. Note that as-is does not remove your duty to disclose known problems — it only means you won't fix them.
Are cash offers and iBuyers legitimate?
Many are legitimate businesses, and a cash sale can be fast and convenient — but convenience has a price, and cash offers typically come in below what you'd net on the open market. Compare any cash offer on a net basis: their price minus their fees and deductions versus your likely market price minus commissions, repairs, and time. Be cautious of pressure tactics, upfront fees, or buyers who won't put terms in writing.
Do I pay taxes when I sell my home?
Often not on the first chunk of profit. U.S. tax law has generally allowed homeowners to exclude up to $250,000 of gain ($500,000 for many married couples filing jointly) on a primary residence, if you owned and lived in the home for at least two of the last five years. Gains beyond the exclusion, second homes, and rentals are treated differently — a tax professional can confirm how the rules apply to you.
When is the best time of year to sell?
Spring and early summer are traditionally the busiest seasons in many U.S. markets, with more buyers and often stronger prices — but also more competing listings. Fall and winter bring fewer buyers, though the ones looking tend to be serious. Local conditions, mortgage rates, and your own timeline usually matter more than the calendar.
Should I make repairs before selling?
Fix the things buyers and inspectors will flag — leaks, broken fixtures, safety issues, and obvious cosmetic damage — because they undermine confidence in the whole house. Skip major renovations: big projects rarely return their full cost at sale, and buyers often prefer to choose their own finishes. Cheap, high-visibility work like paint, deep cleaning, and curb appeal tends to give the best return.
What actually happens at closing?
Closing is when the paperwork is signed, the buyer's funds are delivered, your mortgage is paid off, and the deed transfers to the buyer. As the seller you sign a relatively short stack of documents — the deed, the settlement statement, and a few affidavits — and then receive your net proceeds, usually by wire within a day or so of funding. Depending on your state, it happens around a table, with a mobile notary, or partly online.
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