A study conducted by companies Zillow and Thumbtack shows that homeowners usually spend almost $20,000 in last-minute expenses, which is a huge loss when selling their property.
The average homeowner would usually spend $18,342 in costs when they are disposing of their home.
There are several factors that would eat a chunk of the sales price of a property and some owners may not be fully aware of this.
Transfer taxes, commission for the real estate agent, and costs of sprucing up are among the factors that would lessen the fortune made by property owners.
Zillow’s Chief Marketing Officer, Jeremy Wacksman, said, “If you’re planning to sell this year, try to take some time to research what costs you may be responsible for and how they could affect your profit.”