How is selling to DiGiovanni Real Estate different? With DiGiovanni Real Estate, you get a remarkably simplified home selling experience with no showings and complete control over your moving timeline. Selling your home on the market actually costs more than the 6% commission that’s stereotypically thought of—in most cases, it adds up to about 20% or more of the sale price. The 6% misconception exists because most people only take into account realtor commissions since it’s the only upfront fee they can see. However, there are additional costs that come into play later in the sale like seller concessions, staging costs, housing overlap costs, and closing costs. When you sell to DiGiovanni Real Estate, you avoid all of these costs and get an estimate upfront of how much you’ll make from the sale.
More than 6%: the hidden costs of selling a home
If you’ve never sold a home before, you can think of the costs as like staying at a hotel. There’s a listed price for your room, but that’s not actually what you’re going to pay. There are additional costs like taxes and resort fees, so you don’t know the final bill until you’re checking out. Selling a house can feel similar: you’ll know your realtor’s commission upfront, but it can be hard to estimate the cost of all your expenses until closing. Below are estimated costs you can expect in a traditional sale and where you can save with DiGiovanni Real Estate. If you are taking advantage our Foreclosure Solutions or All other solutions, you can find out more by visiting our Pricing page:
1. Holding & Repair Costs (8%)
One of the most overlooked expenses when selling a home is the cost of housing during the transition period from your old home to your new. If you’re like most people, you’ll need to sell your old home before you can buy a new one to have cash for a down payment. Timelines almost never align perfectly, so you may need to set aside funds to either stay in a hotel and store your belongings, get a short-term rental, or negotiate a lease-back during the months it can take to search for and close on a new home. Even if you are able to move into your new home before selling the old one, be prepared to pay holding costs for the days you still own your old home like property taxes, mortgage payments, HOA fees, utilities, and insurance. With DiGiovanni Real Estate, you have full control of the timing of your move—you chose your close date and even have the flexibility to move it if something unexpected comes up. That means no extra spend on housing, storage, or holding costs during that transition period between moving out of your old home and into your new one. After you’ve agreed to an offer, your buyer will get your home inspected for any defects. Most homes that have been lived in will have some needed work just from normal wear and tear. Usually, the buyer will either ask you to make the repairs yourself or ask for a credit equal to the expected cost of making the repairs.Our analysis of industry data suggests these costs typically range from 8-10% of the sale price but could go even higher depending on the severity of the repairs and length of the transition period.
2. Agent Commissions (6%)
In a traditional home sale, the seller pays the commission fees of both their own agent (the “listing agent”) and the buyer’s agent. The total commission in many areas is about 6% of the sale price, which is often split evenly between the listing agent and the buyer’s agent. Even if you’re planning to save money by selling your home on your own, you’ll likely still need to pay a commission fee of about 3% to the buyer’s agent. According to the National Association of Realtors, 88% of buyers have an agent.
3. Closing costs (2%)
When the sale is nearly complete, you’re left with one last set of costs: closing costs. Closing costs cover items like title insurance, escrow fees, and HOA transfer fees. They can range from 1% to 3% based on the different fees and legal requirements for each state and municipality. At DiGiovanni Real Estate, we’ll provide you with an estimate in advance
4. Seller concessions (2%)
You’ve found a buyer and they’re willing to pay asking price—congrats! But wait, they’re asking for concessions, what does that mean? It’s common for buyers to ask sellers to pay for costs on their behalf such as inspection fees, processing fees, transfer taxes, and more. The maximum amount of seller concessions a buyer can ask for is determined by the type of loan the buyer is using. For example, the max for a conventional loan is 3% to 9%, depending on the size of the down payment. Our analysis of home sale data indicates that when buyers in Seattle
5. Staging & home preparation costs (2%)
To sell your home, you must get it “show ready”, or presentable enough for buyers to make an offer. Paying to stage your home isn’t required, but it’s common and often recommended. At minimum, you’ll need to clean and declutter your house and pay storage fees for the furniture you’ll need to hide away while your home is on the market. It’s also likely you’ll invest in cosmetic touch-ups like fresh paint and new carpet. If you have eclectic or outdated furniture, or live in an area where there’s a lot of competition, hiring a professional stager may be recommended. The cost of staging varies based on factors like the size of your home and whether you need to rent furniture. There’s no staging, storage, or prep costs when you sell your home to DiGiovanni Real Estate. We aim to give you a fair market offer based on the important factors: your home’s features and condition, recent nearby sales, and market trends. You don’t have to worry about clutter or worn furniture affecting your offer.
Selling to DiGiovanni Real Estate means a remarkably simple sale that puts you in control
At DiGiovanni Real Estate, we provide a radically simplified experience for selling and buying homes. For sellers, we aim to provide ideal solutions to your real estate situation by providing world-class service from offer to closing. In the case of All other solutions and Foreclosure solutions, we typically provide an all-cash offer between 70-80% of the value on the house which typically ends up being either more, the same, or a little less than you would get in a traditional sale after all costs are factored in. Whether you walk away with more selling to us depends on the necessary repairs you would be charged in a traditional sale (since we cover all the repairs when you sell to us in most cases). For example, let’s say you have a house that’s worth $100,000. If you chose to work with us, you would most likely walk away with $75,000 compared to $80,000 in a traditional sale. The amount we offer varies based on how long we predict it’ll take to sell the house, and helps us cover all the costs associated with selling the house. In other words, we take on the risks and holding costs of the home so you don’t have to. We also offer you the flexibility to close on your timeline and allow you to skip the staging, showing, and months of uncertainty that comes with the traditional method of selling a house. This allows us to incur all the costs of selling a house and still make a profit. After we incur all the necessary costs, are all-in cost would be between $90,000-$95,000. Therefore, once we sell the house, we would make a profit of between $5,000-$10,000 which we will reinvest back into the business to continue to provide you with world-class service from offer to closing. Every solution that DiGiovanni Real Estate offers is backed by decades of local real estate expertise, recent nearby sales, and the most current market data. Our offer comes with no obligation and breaks down the total amount you will walk away with at closing.