Help! I’ve never sold a house before

Homeseller
1

I inherited a house :house:, and there’s $1,700 left to pay on it. I’ve decided to sell because I’m tired of being a landlord and want to use the proceeds as a down payment on a new house :house_with_garden:.

I’m a newbie at buying and selling property, and I have a great realtor :+1:, but I’m unsure about the fees. What fees am I responsible for as the seller? What is expected of me? Since the house is almost paid off, do they just cut me a check after the sale? :moneybag: Can I deposit that large check directly into my account? :bank:

For context, I’m in Houston, Texas :cactus:, and the house and mortgage are fully in my name

2

Interview 3 different realtors from different brokerages. Ask them all your questions. Then hire the one that gives you the information you feel best about.

3

When I sold my first property, I was in a similar situation, and here’s what I learned. As the seller, you’ll need to cover several fees: real estate agent commissions, closing costs (which can include title insurance, transfer taxes, and escrow fees), and potentially any outstanding property taxes or liens. Given that your mortgage is nearly paid off, once the sale is finalized, the remaining balance on the mortgage will be settled from the sale proceeds, and any excess will be given to you. You can typically deposit the check directly into your bank account, though large amounts might trigger some additional scrutiny from your bank. Make sure to keep your realtor and the title company informed to handle the transaction smoothly.