What Is the Cost of Selling a House in North Dakota?

Seller concessions

Seller concessions can increase how much it costs to sell a house in North Dakota. Beyond the direct costs of preparing your home and Realtor fees, you may also encounter indirect costs, such as seller concessions and buyer incentives.

A concession occurs when a seller agrees to use part of their sale proceeds to cover some or all of a buyer’s closing costs. These costs will depend on your specific situation and market conditions.

“Concessions are pretty normal, and I would say toward the lower price points they’re more common where maybe it’s the first-time home buyer who’s unable to come up with their full down payment,” Irish says.

While sellers are not required to make concessions, doing so can attract more potential buyers, make your home stand out, and help close the deal. Here’s a quick overview of some seller concession examples that might raise the cost of selling a house in North Dakota:

• Home inspection fees: $296-$424, depending on square footage.
• Buyer’s home warranty: $350-$900 (more comprehensive plans can cost $1,200-$1,400).
• Repair credit: Seller credits vary and can lower your net proceeds.

Closing costs and additional fees

Your closing costs and additional fees (excluding agent commissions) will likely range from 2% to 4% of your home’s selling price. Using North Dakota’s median home price of $278,000, this would be between $5,560 and $11,120.

So, what closing costs do sellers incur in North Dakota? Here are examples of what you’ll find on your final settlement statement:

• Escrow fee
• Title insurance premiums
• Title search fees
• Tax liens or other judgments
• Homeowner’s association dues
• Reconveyance fee and recording fees
• Prorated property taxes
• Mortgage loan payoff amount (U.S. average: approximately $250,000)

At-a-glance home selling cost example for North Dakota

This at-a-glance analysis is based on the median home price of $278,000 in North Dakota. For simplicity, this table does not include a mortgage payoff amount. These figures may serve as a helpful planning tool as you prepare to sell your home.

*General estimates based on North Dakota’s median home price of $278,000

If you decide to cover the buyer’s agent fee, add an estimated 2.5% or $6,950.

Relocation expenses

One cost you might forget to factor in is the expense of relocating. Moving costs depend on your destination and whether you hire movers to pack your belongings. Here’s a general idea of what it might cost in North Dakota:

• Typical cost to move: $883-$2,568
• Typical cost to move out of North Dakota: $3,000-$9,5000

How can I reduce my seller costs in North Dakota?

If you’re looking to cut down on the costs of selling your North Dakota home, there are various strategies you can use. Here are some effective ways to keep more money in your pocket as a seller:

• Make repairs yourself when possible
• Negotiate a lower commission with your real estate agent
• Use a discount-commission agent or brokerage
• List your home for sale by owner (FSBO)
• Avoid offering seller concessions or buyer incentives
• If you agree to cover closing costs or provide a repair credit, consider raising your North Dakota home’s purchase price
• Resist the temptation to over-improve or make unnecessary repairs when selling
• Sell your house off-market
• Time your home sale using HomeLight’s Best Time to Sell Calculator
• Work with a top-performing North Dakota agent who has a proven sale-to-list ratio

While a discount agent or broker might charge less, they could lack the experience needed to effectively close your sale, which might end up costing you more in the long run.

“I see it from time to time where a discount agent gets the listing, but then they really do a disservice to the sellers because they don’t negotiate hard at all when they get an offer. So, maybe, the seller saved $1,000 upfront, but then it cost them $10,000 because the agent didn’t negotiate properly on the transaction side,” Irish explains.

Helpful tools for your next home purchase

As you prepare for your next home purchase, consider these HomeLight tools and our innovative Buy Before You Sell program:

• Home Affordability Calculator
• Down Payment Calculator
• Closing Costs Calculator
• Buy Before You Sell

Connect With a Top Agent to Sell Your North Dakota Home

It takes just two minutes to match clients with the best real estate agents, who will contact you and guide you through the process. To connect with an agent, simply tell us a little bit about your property and how soon you’re looking to sell.

Our data shows the top 5% of agents across the U.S. help clients sell their home for as much as 10% more than the average real estate agent.

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Partner and plan with a top North Dakota agent

A good first step in determining the cost of selling a house in North Dakota is to get a home value estimate. Typically, you might expect to pay 6% to 10% or more of your home’s final sale price.

After receiving a home value estimate, you’ll need to create a plan to maximize your profits. HomeLight’s free Agent Match platform can connect you with a top real estate agent in your North Dakota market who can sell your property for more than its list price.

Irish emphasizes the importance of using an experienced agent. “I, myself, have sold hundreds of houses. I’ve been doing it for a long time, and I would say a big mistake that people make is overpricing their listings, and then they spend more time on the market,” he says.

HomeLight’s Agent Match can introduce you to the highest-performing agents in your market who can help you make the most of your home sale.

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