Memphis, Memphis homes, Memphis real estate

How Much Does it Cost to Sell a House in Memphis?

cost to sell a house in Memphis
share post

Homeowners often aim to sell a property for the maximum price. Selling a house in Memphis involves commissions, closing costs, repair expenses, and holding costs. A Tennessee home’s selling expenses account for 11.48% of the final sale price. That comes to roughly $37,284, based on the $324,797 average home value. This is only an average, though, and the price to sell a house can differ from one to the next. Taxes, staging, and maintenance costs are all specific to the state and area of the property. Explore the cost to sell a house in Memphis and continue reading the blog.

The Costs of Selling a Home in Memphis

Pre-Listing Costs

The pre-listing cost to sell a house in Memphis involves maintenance expenses. After listing your home, make sure it is in a suitable condition to attract potential buyers to make offers. Even when many people think their house is in great shape, you should think about what you may change to attract more buyers.

Staging

Even though your style suits you, there are better choices than providing potential buyers with the quality images and sense of home. A home staging business can assist you in identifying the differences. A professional stager makes your house look better tp attract as many people as possible. Rearranging furniture, buying new furniture, and changing your home’s interior style are all part of the process. The related costs fall between $2,000 to $3,500.

Landscaping

Keep the interior of your home in good condition to have it ready for sale. Ensure the externals have a suitable appearance. Curb appeal is significant when your house is for sale. Ensure many diverse colors, a colorful garden, and well-manicured grass. Additionally, painting, fresh landscaping, and installing a new fence can be suitable options. Professionals will nearly always perform better than you in these kinds of tasks, but naturally, it entails more expenses. Depending on who you employ, cost to sell a house in Memphis ranges from a few hundred to several thousand dollars to make your home shine.

Repairing Costs

The cost of repairs for your property may run into the millions. Before you list it, you might have to make repairs, which quickly balloon into significant costs. After the inspection, you may discover you need to do even more repairs. After the inspector leaves, many purchasers will try to bargain, asking you to fix whatever needs to be fixed or offering a credit or discount on the purchase price.

Holding Costs

Most people need to learn the high cost of home ownership. You deal with power bills, homeowners insurance, and property taxes. The costs could mount if your house is older and inefficient with energy. Prospective buyers also have to pay for regular maintenance, repairs, and maintenance of the house’s appearance. Your holding cost to sell a house in Memphis can mount up if your home is listed on the MLS for an extended period. However, if you sell your home to Connect Home Buyers directly, we can close on your property in a matter of days, free and clear.

Marketing Expenses

The marketing expenses for a regular property sale vary depending on the platform. Depending on your agent, you might discover you’re spending a lot of money marketing the house. Invest in premium listings, expert signage, or photography to present your home in the best possible light. Don’t think you work with an agent; your marketing expenses will be paid for. Since each agent is unique, you might find selling your house quickly in Memphis costs more than anticipated.

Agent Commission Costs

Commissions are an integral part of selling a property through an agent. If a real estate agent in Memphis assists you in selling your property, you agree to pay. The final cost may be 5-6 percent of the sale price. If your house sells for $400,000, the buyer’s agent and the agency representing the seller will share the remaining $20,000 to $24,000.

Sell Your House With No Closing Costs to Connect Home Buyers

Are you looking to sell your house quickly without repairs or closing costs? Connect Home Buyers can help! We buy homes in any condition and provide convenient service.

Without waiting months for a traditional real estate agent to sell your house, you can confidently move forward and sell it as-is. We take care of all the paperwork and closing costs, so you don’t have to. Contact Connect Home Buyers for a cash offer!

Conclusion

When listing a home, it is essential to understand the typical expenses related to selling a house in Memphis. Homeowners must budget for various costs, including holding and repair bills, landscaping, and staging, in preparation for a potential sale. These expenses—including property maintenance—are required to draw in potential buyers and get a fair asking price. Furthermore, it is essential to consider marketing costs and agent fees because they typically represent a significant amount of the sale price.

Frequently Asked Questions (FAQs)

What do most realtors charge to sell your house?

Home sellers often pay a commission to their listing agent equal to roughly 6% of the sale price of their property.

What is the largest cost of selling a house?

Real estate agent commissions will probably be the biggest single expense, but there are additional fees and costs to consider. You also pay income taxes on a portion of the profit you make when you sell your house for a high price.

Is it expensive to live in Memphis Tennessee?

Memphis has a cost of living which is 10% less than the national average and equal to the state average. Memphis, TN housing costs approximately 18% less than the national average, while utilities are roughly 11% less expensive.

Why is it suitable to consult Connect Home Buyers for investments?

Consulting Connect Home Buyers is a practical approach to avoid investment scams in Memphis.

What type of services does Connect Home Buyers offer?

Contacting Connect Home Buyers enables you to access various property services, such as listing and advertising your property.

Subscribe to our Newsletter

Receive an exclusive once-a-month insider real estate market update. Stay up to date on trends and future forecasts. Market updates every month.

Every hour a homeowners requests a cash offer from Connect Home Buyers

Stay Informed

Subscribe to receive an exclusive once-a-month insider real estate market update. Stay up to date on trends and future forecasts. Market updates every month