The Real Expenses Associated with Selling Your House in Florida

Nov 08, 2023 Blog

The Real Expenses Associated with Selling Your House in Florida

Inquiring about the approximate cost of selling your Florida house? The cost is based upon several factors, including location and sale price. There are a lot of expenses involved in selling a house, so before you can conclude how much you will make on the sale, you must add up all of the closing fees.

You must make some assumptions to see the overall cost when you sell your house in Florida. For instance, your home's selling price may range from extremely low to quite high. You might choose to base your decision on Florida's average property value, which varies between $200,000 and $300,000, and for reference, you can fix it at $250,000.

Preparing your home for sale: 2-3%

The costs related to home staging, cleaning, landscaping, and home improvements usually constitute the price of getting your house ready for sale. Depending on how old or maintained your property was before it was sold, these expenses can vary significantly. Limit your expenses related to repair or renovations between 2-3%, which is between $5000 -$7500, or consider the advantages and disadvantages of selling your property "as is."

Buyer Incentives and Negotiable items: 1-3%

When you sell your house fast in Florida, with skilled negotiation, you can secure favorably. You should, therefore, budget money for negotiations with the buyer into your selling cost estimates, and this money should be kept separate from the buyer's price. This would have a 1-2% overall cost.

After the negotiations, the buyer will probably do a house inspection. During this process, they will likely ask you to fix certain faults or provide a credit at closing. It would be a fair estimate to keep 1% of the selling price for this. The total buyer incentives and negotiable cost would come around $2500-$7500.

Moving expenses: 1-2%

The expenses of packing up and moving out of the house should not be underestimated when you Sell Your House. If you choose not to handle the task yourself, you will need to pay for moving trucks, storage units or canisters, moving boxes, packing supplies, and moving labor. The moving expenses would cost around 1-2% or $2500-$5000 of the overall cost.

Real estate agent commission fees: 5-6%

Although there are no fixed charges and they are negotiable, the Real estate agent commission fees normally range from 5 to 6%, which would be around $12500-$15000. The advantages of hiring a real estate agent are that they will handle the sale of your house with a marketing strategy aimed at maximizing the proceeds.

Closing costs: 1-3%

The different fees and charges that buyers and sellers pay when their real estate transaction is closing are known as closing costs. The closing fees incurred by Florida sellers are deducted from the overall profit of the deal. A home seller in Florida should anticipate paying about 1-3% in closing expenses, which would be around $2500-$7500.

Breakdown of home selling cost in Florida

Average Expenses                                          % of Sales Price     Estimated Cost   
Preparing your home for sale 2-3% $5000-$7000
Buyer incentives and Negotiable items 1-3% $2500-$7500
Moving expenses 1-2% $2500-$5000
Real estate agent commission fees 5-6% $12500-$15000
Closing costs 1-3% $2500-$7500
Total 10-17% $25000-$42500







Reducing costs

You may feel overwhelmed by this list of costs. Thankfully, there are methods you can use to cut costs:

  • You can get the best bargain possible by choosing a real estate agent who has experience and is familiar with your market.
  • You might ask your agent to lower their commission, as commissions are negotiable as well.
  • You can avoid paying professional movers by getting rid of items you don't need and asking friends to help with the remaining items.
  • If you don't want to pay for staging, cleaning, or even little repairs, consider selling the house AS-IS.

Final Thoughts

When selling a house, sellers should ultimately budget between 10% and 17% of the sale price. How much you get depends on various factors, including regional regulations, tax rates, your negotiation skills, and the amount of money you are willing to put into renovating your house. Contact Everyday Home Buyer if you would like to sell your house for a reasonable price without all of the costly fees. We buy homes in Florida as-is and offer a flexible cash offer.

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