What are the costs to selling equity?
The costs associated with listing with Fraction are:
- Property inspection fees - approximately $550 but varies by property
- Property appraisal fees - approximately $500 but varies
- Title search fees - approximately $400
- Origination fees - 0.5% - 1%
- Listing fees and brokerage fees - 3% - 5%.
These fees are on-par or lower than what most lenders charge, as we do many of the same processes. The upside is that once you have sold the equity in your home, there's no monthly payments or interest rates eating into future equity.