A Breakdown of the Holding Costs You Will Face When Selling Your House With a Knoxville Real Estate Agent

spending money on holding cost while your home is listed with a Knoxville real estate agent
Spending money on holding costs while your house sits on the marketing in Knoxville, TN?

It can be a real shock when you review a breakdown of the holding costs as it relates to selling your house with a Knoxville TN real estate agent. The financial burden of the home you need to sell can lead many into financial turmoil. One reason you may face holding costs is that your home is still sitting on the market. This could be due to many factors. For one,  your asking price may be too high, causing you to lose money in the long run. Or, your home sticks out like a sore thumb compared to the surrounding homes or is out of style in the eyes of today’s buyers. Cost’s can add up quickly when your listing sits for a long period of time. It’s at this point it becomes less likely you will be able to attract any  potential buyers and as every day passes by, cost’s go up! Searching for cash home buyers near me should be a legitimate consideration. Another issue that may cause  a delay in the sale of your home is  your buyers financing was declined at the last moment. It should come as no surprise that some buyers who may have been pre-qualified from the outset can sometimes find themselves having difficulty closing the purchase for a variety of reasons. This can no double be painful to your wallet if  you have already relocated.

Monthly Overhead

 Your holding costs will include you guessed it, utility bills! They are a  consistent reminder that every month any potential profits will be being eaten away. This is just one of many you will face when selling your house with a KnoxvilleTN real estate agent. Agents can provide average days a house sits on the market. However, unlike local house buying companies advertising we buy houses Knoxville they can’t provide the date you’ll close on the property. This open-ended arrangement can quickly escalate into an extreme financial burden as the property lingers on the market.

Insurance

If you have a mortgage on your home then not only is homeowners insurance mandatory but it’s a necessity. Much like utility bills, it must also be counted in the breakdown of the holding costs. It’s just one more thing to keep in mind when selling your house with a Knoxville real estate agent. It just isn’t worth the risk to try to save money and many lenders require insurance, in addition to PIP mortgage insurance if you still owe a balance of more than 80 percent on your mortgage note.

Taxes

Property taxes wait for no one and will continue to accrue while your house is listed. You can easily determine your monthly cost by dividing the annual bill amount, the taxes will be prorated and included in your closing. This is another expense in the breakdown of the holding costs you will face when selling your house with a Knoxville real estate agent. 

House Payments

Your mortgage payments won’t wait for your buyer to come along, breakdown of the holding costs you will face when selling your house with a Knoxville real estate agent. Naturally, your lender will expect your payments to continue.

Repairs

This can sometimes be a little overwhelming. Estimating repair cost  with a  never ending-changing market  is hit or miss. Labor and materials costs can be dynamic. With that said, repairs are to be expected and

it goes hand in hand with homeownership and needs to be incorporated into the breakdown of the holding costs you will face when selling your house with a Knoxville real estate agent. In particular, as homes age repairs can literally drown you in unexpected expenses. Many homes are purchased every year with deferred maintenance because many home owners lack the resources or skill to make their homes market ready prior to selling. Selling in as-is condition to we buy houses Knoxville investment companies is an avenue worth thinking about if you fall the latter category.

Upkeep

The overall costs of upkeep & maintenance is not cheap and  needs to be added to the breakdown of the holding costs you’ll face when selling your house with a Knoxville real estate agent. Maintenance should be continuous, especially when your home is listed and you want to attract buyers. If you’ve already relocated, you’ll have to add travel expenses or pay someone to help you monitor the property and keep everything in order. Remember if you want to avoid all the costs & hassle, call East TN home buyers today.

It goes without saying  these costs can add up quickly! It’s not out of the ordinary  to spend thousands while your house is sitting on the MLS. Why wait any longer? Sell to East Tennessee Home Buyers LLC instead! You can avoid heart ache, stress and not to mention thousands of dollars in holding costs along  time, energy, and  the hassle of listing your home. East Tennessee cash home buyers can offer a quick and guaranteed closing date! You can forget about the utility bills, with no more homeowners insurance, property taxes, or mortgage payments to make. Repairs and maintenance will no longer be a concern. Call (865) 935-8680 today or send us a message to learn how we can help you!

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