For homeowners in Maryland, determining how much it costs to sell a house in Maryland is imperative to make informed decisions to have a successful sale.
From marketing to closing costs, every stage of the Maryland home selling process is expensive. Understanding all the costs of selling a house can help you set a realistic asking price your property and sell on your terms.
When making cash offers for Maryland home-sellers, we get asked this question a lot. So, in this article, we will discuss the various expenses that come with selling a house in Maryland, ranging from agent fees to paying off taxes and liens.
How Much Does it Actually Cost to Sell Your House in Maryland?
In total, the average costs for Maryland sellers will typically range anywhere from 8-10% of the total sale price of your home.
For example, if your house sells for $300,000, you could expect to pay between $24,000-$30,000 in total expenses selling the traditional way.
It’s important to remember that these costs are only estimates, and your actual expenses may vary depending on the condition of your house and the level of marketing you choose to do.
However, by understanding the costs of selling a house in Maryland, you can make a more informed decision about whether selling your house is the right choice for you.
Costs of Hiring Agents vs. Selling to Professional House Buyers
In the following, we’ll compare the expenses of listing agents in Maryland and selling it directly to a professional buyer.
We suggest obtaining a proposal from our team of Maryland house buyers, as this will allow you to input your property’s figures and discover which method of selling your Maryland home is most suitable for you.
The Hidden Costs of Hiring an Agent in Maryland
A vast majority of Maryland property owners may not be sufficiently equipped to handle the demands of selling a house through a real estate agent. The conventional method of selling a house entails multiple expenses and lots of time.Commissions
One of the biggest expenses you’ll face when selling your house in Maryland is the real estate agent commission.
The average Maryland Realtor commission rate is around 6% of the sale price of the home. This commission is typically split between the buyer’s agent and the seller’s agent.
For example, if your house sells for $300,000, you could expect to pay $18,000 in Realtor fees.
Closing Costs
Closing costs are another expense to consider when selling your house in Maryland. These costs typically include title fees, transfer taxes, and other fees associated with the sale of a home.
In Maryland, the average closing costs are around 2-3% of the sale price of the home.
For example, if your house sells for $300,000, you could expect to pay $6,000-$9,000 in closing costs.
Repairs
Another cost to consider when selling your house in Maryland is the cost of repairs to improve your home’s value.
Many buyers will expect the house to be in good condition, so you may need to make repairs or upgrades before putting your house on the market.
These costs can range from minor repairs like fixing a leaky faucet to major upgrades like roof replacement or a new HVAC system.
Holding Costs
When you own a home, you have to pay for things like property taxes, insurance, and utilities. You must continue to carry these costs while you wait for your house to sell, even if you’ve already moved out.
If your home is old and not energy-efficient, these bills can be expensive. You also have to keep up with repairs and maintenance and prepare your house for showings.
If your house doesn’t sell quickly, you’ll have to keep paying these. The total costs to sell can add up fast. However, if you sell your home to Creo Home Buyers, you can close on your house fast. That way you can avoid wasting money on the extra holding costs you would incur selling your Maryland home the traditional way.
Marketing Expenses
Marketing your house is an essential part of the selling process, and it comes with its own set of expenses. This can include professional photography, virtual tours, and online advertising.
These costs can vary depending on the level of marketing you choose to do, but it’s important to budget for them when selling your house in Maryland.
Selling Your House Directly to Creo Home Buyers in MD
Alternatively, if you choose to sell your house directly to Creo Home Buyers, you can avoid usual selling expenses. Despite traditional buyer expenses, our team’s methods of buying houses relieve sellers of all costs and fees.
You needn’t fret about scheduling or paying for repairs, tidying up, or waiting for the right buyer to come along. In addition, you won’t be subject to costly agent commissions, Realtor fees, or marketing expenses.
You will have the opportunity to sell your home in Maryland quickly and definitively, once and for all!
Want to Avoid How Much it Costs to Sell a House in Maryland?
In conclusion, selling a home in Maryland can be an expensive and time-consuming process. Between real estate agent commissions, repairs, closing costs, and holding costs, it can add up quickly is overwhelming for most sellers.
By selling directly to Creo Home Buyers, you can avoid all of these traditional home selling costs and close on your property in a matter of days.
Contact us today to schedule a consultation and learn more about how we can help you sell your Maryland home quickly and hassle-free.
If you want to sell your house without costs or waiting any longer, reach out to our Maryland home-buying team today to find out what we can offer you! (410) 870-9228