Are you thinking of selling your home? If so, don’t forget about these costs.
Do you want to know how much cash your house is worth today?
When deciding whether or not to sell me their property, many people don’t accurately calculate the costs they’ll incur by taking an alternate route.
When I purchase a property, I figure in things like closing costs, carrying costs, renovations costs, and more.
These are all costs that will be incurred by the owner if I don’t take them on. So when sellers choose not to sell to me, they often forget about these additional costs.
But, what do these costs truly amount to? In our New York metropolitan area, closing costs are pretty high. This may be due to the fact that we use attorneys from the inception of the process.
Carrying costs are another expense to consider. These include taxes, interest, and mortgage costs. There may be other additional expenses included within these carrying costs, but it will depend on the property.
Renovation and utility costs will also be necessary in most cases.
When all of these costs are added together, the expense for the seller becomes substantial. This is something I try to explain to people I work with so that they can decide what makes the most financial sense for them.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.