What Additional Costs Are Associated With Real Estate Sales?

If you have decided to sell your property, you should also take into account various costs associated with it.

Uus Maa Elamus office real estate agent Kadi Pettai highlights 11 of the most important cost items that may be associated with the sales process. Their number and total amount may vary depending on the choices you make.

Real estate agent's brokerage fee

If you decide to use the professional assistance of a real estate agent, the brokerage fee is according to agreement.

Property photos

Professional photos help present your property in its best light. If you choose the help of a real estate office, this amount is already covered by the agent's fee.

Advertising costs

Depending on how many portals and newspapers you want to place your sales listing in, the advertising cost will also increase. Using real estate office services, this amount is already covered by the agent's fee.

Cleaning and renovation

To make the property more attractive, it may be necessary to carry out minor improvement and cleaning work, which could include repainting a wall, fixing plumbing, or polishing the floor.

Appraisal report

If you want an accurate overview of your property's value, you may need to order an appraisal report. Using real estate office services, there is no need to order an appraisal report, as agents in cooperation with appraisers provide a fair selling price.

Notary fee and state fee

Notary fees are usually divided equally between the seller and buyer, and the state fee is paid by the buyer. The division may also depend on the agreement between the seller and buyer.

Mortgage cancellation

If the property being sold is encumbered with a mortgage, it must usually be cancelled.

Moving

For moving, it may be advisable to use the services of a moving company to make the process smoother and easier.

Cleaning

After moving, you can order professional house cleaning to save time.

Utility payments

Payment of the last utility bills before transferring the property to the new owner.

Income tax and income declaration

Tax-free, it is allowed to sell one property object within two years – provided that it must be a person's home. Tax obligation applies to property that has not been used as a home.