Selling with an agent can be a very challenging task. These are some of the items to be aware.
- 6% on average is paid on commission. That's $6,000 per every $100k.
- Home owner is responsible for paying some items at closing like New York Transfer Tax
- Inspections and financing - Banks need to approve the purchase. This is lengthy and many times the sales fall through.
- Bank will require appraisal of the property.
- Unknown number of property showings at all hours.
- Closing typical takes 45-90 after a buyer is found.
- Owner is responsible for paying for repairs for items under violations, etc.