Real Estate With Kathy Jo Sanders

Are you working with a local agent to sell your house? Or maybe you’re thinking about it? If so, we’ve collected the top 4 things you need to expect when selling with an agent — to help you navigate this process easily!

There are many ways to sell your house and many people choose to work with an agent to help them during that process. Do you plan to work with an agent? If so, here are 4 things you need to expect when selling with an agent.

The #1 thing is Money

A real estate agent is a professional who performs a service for your benefit. This shouldn’t come as a surprise, and yet many people are surprised when they learn that the agent charges a commission for their service… and this commission can be thousands of dollars in some situations! For some people, that’s okay because they want the benefits that an agent provides, but it can be a costly surprise if you’re not prepared.[delay: 0.5s]

#2 is Time.

You probably want to sell your house as quickly as possible. An agent wants that too. However, an agent is at the mercy of what buyers want… and agents will work hard to find a buyer for your house but they can’t always guarantee that your house will be sold within a certain timeframe. [delay: 0.5s]

#3 is Showing your home.

For an agent to find a buyer who wants to buy your house, they have to show it to people. Buyers will obviously want to walk through the house and decide for themselves if it’s the right house for them. Therefore, if you work with an agent, you should expect the agent to arrange showings with buyers – which means you may need to leave your house while buyers walk through it.

#4 is all the Unknowns.

Agents provide a great service but the truth is – agents can’t control the process. There are many unknowns that will influence the sale of your house. These unknowns include: the number of other sellers selling similar houses, the number of buyers who want to buy, the number of banks willing to lend money for mortgages, the state of the economy in the city, within the state, and in the country as a whole. Therefore, you may want to sell right now at a certain price, and the agent will do their best but you may be forced to sell later at a lower price.

Selling your house can seem daunting, which is why many people choose to work with a real estate agent. If that’s how you want to sell your house, make sure you know these 4 things you need to expect when selling with an agent. 

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you're not expected to have all the answers yourself. 

There are many trusted professionals who can help you understand your finances and what you'll need to budget for throughout the process.

To get you started, here are a few things experts say you should plan for along the way.

Down payment. As you set your savings goal for your purchase, your down payment is likely already top of mind. Just remember, while you'll need to set aside some funds, saving 20% of the home's purchase price, is not always the case. The good news is, you may be able to put as little as 3.5%  or even 0% down.

Earnest money deposit. While it isn't required, it's common in today's highly competitive market because it can help your offer stand out in a bidding war. It's money you pay as a show of good faith when you make an offer on a house.

Closing costs. Your closing costs cover the fees for various services involved in your transaction. Closing costs make up about 2% - 5% of the home's purchase price. Closing costs cover taxes, insurance, title fees, and lender's fees.

Knowing what to budget for in the homebuying process is essential. To make sure you understand these and any other expenses that may come up, let's connect so you have reliable expertise on what to expect when you buy a home.