It’s advisable to take down a pen and paper and jot down some numbers to have a realistic picture of the monthly expenses involved in up-keeping your house during the selling process . Holding costs, such as your mortgage, taxes, insurance, maintenance, home owner association fees, yard maintenance, or the costs to relocate before the sale of a primary residence, can add up quickly when the days pass while waiting for your house to sell. For example, if your costs to hold the property add up to $2,400 a month, and it takes four months to sell, your holding costs for the sale of your house were $9,600.
Depending on the condition of your property, especially those with older homes need to consider the probability of covering unexpected major repairs after lender’s inspection. By understanding your holding costs, you can genuinely understand what you’re profiting from on your sale; read on as we explore how to calculate your holding costs when selling your house in McAllen.
Mortgage, Taxes, and Insurance
When you list your house for sale on the McAllen real estate market, there is no guarantee as far as when and for how much the property will sell for or if you will find a buyer at the listing price. When working with a real estate agent you should ask about the average days a house stays on the market for similar properties in your area. You are responsible for all the expenses related to having a house until the day of closing. These can add up to a significant amount that will reduce your profit . The most significant holding costs include your monthly mortgage payments, taxes until the day you sell a house, and home owners insurance . If you multiply these monthly payments by the number of months it takes to sell a house, you can estimate part of the holding costs. Professional investors like those at Dolfin RGV want to help you sell for the highest possible profit. The local professional investors at Dolfin RGV operate with total transparency. The professional investors at Dolfin RGV will provide a detailed comparison of what you could profit by listing vs. a direct sale so you can make the best decision for your situation. When you sell to a professional investors at Dolfin RGV, you will get a guaranteed closing date and price, that works for you and you will not gamble with the expenses related to continued holding costs.
Utilities
Agents highly recommend leaving the utilities on during the listing, which during our Texas extended summers can mean paying a hefty electrical bill. It’s standard practice to leave them on for a few days after closing so that final inspections and walkthroughs can be done, so you must also add this amount to accurately calculate your holding costs when selling your house in McAllen. Professional investors like those at Dolfin RGV save sellers from carrying this extra load. The professional investors at Dolfin RGV save sellers even more because they never charge commissions.
Maintenance
When you put your house on the market, it’s essential to showcase it in the best light. Keeping the best curb appeal require sellers to keep up with yard and house maintenance work and expenses like lawn care, adding another cost to the calculations for your holding costs when selling your house in McAllen. Watering plants, picking up any garbage, and constant yard cutting may also be time consuming. By buying your house directly, professional investors like those at Dolfin RGV can help you eliminate your maintenance costs and all of the work and worry. When homeowners live out of state of the country, maintenance costs can be even higher. Everybody knows it’s not easy to keep up an eye on the property from the distance and vacant houses tend to deteriorate. In addition, the professional investors at Dolfin RGV save sellers even more by working with a full-service in-house team of industry specialists, including every pro necessary to get you to the closing table without paying any hidden fees.
Travel
Suppose you live out of town and need to travel to care for a property. You may pay airfare, gas, hotels, or other transportation costs or a management fee for someone to care for the property if you cannot travel. In that case, this is another cost you’ll need to calculate for an accurate picture of your holding costs when selling your house in McAllen. Professional investors like those at Dolfin RGV offer a guaranteed closing date, often in as little as a few days. The professional investors at Dolfin RGV have the flexibility to allow you to select the calendar date for your closing if you’re not in a big hurry.
Repairs
Unexpected repair costs are always possible and should be another factor in calculating your holding costs when selling your house in McAllen. While you may have prepped and made necessary repairs to put your house on the market and attain a fair price, a professional inspection can help uncover hidden problems before the sale. Armed with this information, you can get quotes from contractors and you can decide whether to invest the time and money in repairs or disclose the issues to potential buyers and address any resulting contingencies during negotiations. Typically, buyers have an unrealistic opinion of the expenses and demand completing the repairs or that the seller completes the repairs before closing. Professional investors like those at Dolfin RGV buy houses as-is for cash. The professional investors at Dolfin RGV will take on the risks of making any repairs. You can even live the things you don’t need behind and they will take care of the mess.
The professional investors at Dolfin RGV can help you calculate your holding costs when selling your house in McAllen without obligation. The professional investors at Dolfin RGV and the entire team work to make the process simple and easy for sellers. At Dolfin RGV, we want you to feel good about working with us long after closing and agree our offer was fair. Don’t forget to ask about our current investment property inventory at Dolfin RGV. Call Dolfin RGV at (956) 904 5234.