Once your home is prepped and ready to sell, you have to go through the closing process. Of course, you might already be tired from the selling process. You had to pack and move all of your belongings from one house to the next, make all of the necessary repairs, speak with prospective buyers, and so much more.
You might be wondering,
“How long will the closing process take and what can I expect?”
How Long Will Closing Take?
According to an Ellie Mae report, the average time to close a home purchase back in August was 45 days. However, there are things that can make the closing process take longer.
For example, if issues come out of the weeds during inspection, you might need to go into a renegotiation process with the buyer. You must also keep in mind that the closing process does not include all of the time that your house spends sitting on the market.
It might take you a bit of time to find the perfect buyer. If your home isn’t in the most desirable area, or if it needs some updates to be considered a “turnkey” home, then the process could drag on.
Understanding Closing Costs For Sellers
You might be wondering who in the two parties is responsible for the closing costs. In most scenarios, the buyers and sellers will be responsible for the closing costs. However, the bulk of the costs typically fall to the buyer.
Sellers will usually have to pay expensive real estate commission fees for the selling agent and the listing agent. The commission fees usually account for around 5-6% of the overall value of the home.
Beyond that, sellers typically have the responsibility of paying:
- 1/2 Escrow Fees
- Transfer Tax
- Attorney Fees
- HOA Fees
- Property Taxes
- Title Insurance
If you are in the midst of selling your home because you need cash now, the costs associated with selling your home might be of concern. Beyond having to consider the closing costs, you will also have to deal with any other associated home preparation fees, as well as any repair costs that the buyer requests.
If your goal is to avoid all of these costs, you might consider working with HelloPad. The price that you get from HelloPad is the price that you will get during closing. We don’t hide any closing costs or additional fees, so you don’t have anything to worry about.
Closing The Sale Quickly
While you could choose to sell your home traditionally, you need to keep in mind that the closing process might not work in your favor. If you need to sell your home as quickly as possible, you may consider selling off the market.
HelloPad is one of the most reputable cash home buyers in Washington State. We can help you close in as little as two weeks and get you the highest price for your home without any additional costs or hidden fees to worry about.
Get in touch with us today!