1. Real Estate Agent Commissions

The most significant cost when selling a house is typically the real estate agent’s commission. In North Carolina, the standard commission rate is around 5-6% of the home’s sale price, which is split between the buyer’s and seller’s agents.

• Example: If your house sells for $300,000, you could pay between $15,000 and $18,000 in commissions.

2. Closing Costs

Closing costs are fees associated with finalizing the sale of a property. These can include:

• Title Insurance: Protects against any claims or liens on the property.
• Attorney Fees: Legal services for preparing and reviewing documents.
• Recording Fees: Charges for recording the deed with the county.
• Transfer Taxes: Taxes imposed by the state or local government on the transfer of property ownership.

In North Carolina, closing costs can range from 2-3% of the sale price.

• Example: For a $300,000 home, closing costs might be between $6,000 and $9,000.

3. Home Repairs and Improvements

To make your home more attractive to buyers and potentially increase its value, you may need to invest in repairs and improvements. This could include:

• Minor Repairs: Fixing leaky faucets, patching holes in walls, etc.
• Major Repairs: Roof replacement, HVAC system repairs, etc.
• Cosmetic Upgrades: Painting, landscaping, new flooring, etc.

The cost of these repairs and improvements can vary widely depending on the condition of your home and the extent of the work needed.

4. Staging and Marketing

Staging involves setting up your home to look its best for potential buyers. This can include:

• Professional Staging Services: Hiring professionals to furnish and decorate your home.
• Photography and Videography: High-quality images and videos to showcase your property online.
• Advertising Costs: Paying for online listings, print ads, and open houses.

These costs can add up, with professional staging alone costing several hundred to several thousand dollars.

5. Holding Costs

If your home doesn’t sell quickly, you’ll need to continue covering ongoing expenses such as:

• Mortgage Payments: Continuing to pay your mortgage until the sale is finalized.
• Property Taxes: Ongoing tax payments.
• Utilities: Keeping the lights on and the home comfortable for showings.
• Homeowners Insurance: Maintaining insurance coverage.

These holding costs can become a significant financial burden if your home takes a long time to sell.

Total Estimated Costs

When you add up all these expenses, selling a house through traditional methods can cost anywhere from 10-15% of the sale price.

• Example: For a $300,000 home, total selling costs could range from $30,000 to $45,000.