Seller's Closing Costs
The following fees can be charged to the seller at closing. Because a seller's expenses of sale can vary from county to county and city to city, this example shows a basic sample of closing costs.
Escrow. These fees can include a basic escrow handling charge, document preparation fee and notary fee.
Recording. Fees to record the property deed in the public record and any other documents required to clear title.
Transfer Fees. These are County fees to transfer the title out of the seller's name.
Excise Tax. Tax the County charges to sell your home.
Utility Fees. These are collected if there are any unpaid balances on the seller's utilities.
Real Property Taxes. Prorata portion is due if the taxes have not yet been paid.
Homeowner Association Fees (for a condo or townhome). These can include a document preparation charge, as well as a prorata portion of monthly homeowner association dues not yet paid.
Real Estate Commissions. Payment to listing and buyer's brokers.
Loan Payoffs. The existing loan(s) will be paid off at closing.
Title Fees. Title policy fee paid for the buyer's owner's title policy.
Delivery or Courier. Expenses for shipping or transporting documents.
Other optional costs:
Home Inspection. The cost of a home inspection will let you know if you have any work orders or defects.
Home Warranty. Cost of one-year home warranty plan for the buyer.
Roof Certification. Fee for certifying the roof for 2 to 3 years.
Repairs. Contractor invoices or buyer credit for request for repair work.
Buyer Closing Cost Credit. Negotiable sum agreed upon in purchase contract to pay for buyer's closing costs.
Other Buyer Credits. These can include mortgage buydowns or other fees paid on the buyer's behalf as part of the purchase contract.
Net Profit Due the Seller
Start with the sale price, and deduct each charge that applies for the net proceeds that will be paid to the seller at closing.
If You are wondering what your specific costs to sell your home will be please contact me by phone or email. I'll be happy to give you that information.
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