Selling cost plays a vital role in determining the selling price of a property. Therefore it is important to calculate the selling cost correctly. The calculation involves listing the various steps involved in selling real estate and adding up the related costs.  The general steps are agent’s commission if you sell using an agent’s service, advertising costs, cleaning and repairing costs, home staging costs, Legal fees, Attorney and or conveyancer fee,  cost of getting pest and termite certificates,  pending taxes, rates for water and sewerage rates and land tax, energy rating in some cases.  These costs may add up to be a high sum which can sometimes affect your profit. It is therefore very important to do the calculations and homework to determine exactly how much the selling cost of the house will be.

To get a reasonably good price it is important to give the house a facelift so that it might make a good impression on the potential buyer’s mind.  The expenses involved in this effort usually consist of the cost of repainting, new rugs and carpets, repairs to fixtures, landscaping and overall cleaning and refurbishing in and around the house.  For the different repairs, get the quotes from various contractors and decide the one that guarantees the best job for a reasonable price.

• The agent’s commission is usually the biggest expense involved in selling a property.  This is a percentage of the selling price ranging between 5 to 7 percent.  So shop around and find the agent with the best rate who can offer the best services.  
• The cost of moving should be calculated and added to the selling price.   Other relocation costs like the storage fees for furniture, gym transfer, school transfer and more should be included in the cost of moving.
• The closing costs pertaining to a property sale includes property taxes and transfer taxes and legal fees for finalizing the home sale deal. They may roughly work out to be 2 to 4 percent of the sale price.  Depending on the state’s tax laws, you may have prepaid taxes so you can expect refund.  
• Similarly you may be eligible for refunds on prepaid escrow home insurance payments.  On the other hand pending payments on insurance payments should be deducted from the selling price of the house.
• If there are any mortgage payments remaining to be paid on your home mortgage, this amount must be deducted from the sales price. It is important to get a statement of pending payments from your mortgage lender at the time of selling your real estate. Take into account home equity loans and other liens if any and the penalty for prepayment of loan as they are crucial in calculating the exact amount due to the mortgage lender.  
• Other costs related to the sale of a property may include the cost of inspection, home staging if you have hired professional service and fees for the solicitor and the cost of home warranty.

Calculate and add up all the above estimated costs in a spread sheet and you arrive at a figure that will be the total selling cost of the property.