What Closing Costs Do Sellers Have to Pay?

Today we’re having a discussion about what costs you might expect to pay when it comes to selling your home.

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Today I’m joined again by Ryan Finger from the House Hunters Team. Together, we’ll be discussing some of the costs associated with selling your house. When dealing with sellers, I’m always asked about how much it really costs to sell a house.

What are some of these costs that are associated with selling?

Looking at settlement statements, there won’t be as many costs associated with the seller’s side of things, if you look line-by-line. However, what is on there is often times pretty large in costs. By contacting the right team such as the House Hunters Team, many times you can sell your house for top dollar to help cover those costs.

There are a few main charges that you’ll come across:

• Real estate success fees. Commision on both sides is typically paid for in-full by the seller.
• Taxes. Taxes are paid in arrears. That means they’re paid the following year for that previous year. This, in turn, means that if you close halfway through the year, you’re going to be charged for that half year’s worth of taxes at closing, so that when the buyer is set to purchase, they’re going to pay for the full year in which you’ve already taken care of your half.
• Transfer fees.
• Title fees.

 

We’d be happy to tell you exactly what your home is worth and do a market analysis for you.

 

If someone is trying to figure out how much they might net in costs at the end, is that something that they could contact you about?

Absolutely. You’re going to want to know that figure exactly based upon your individual sale. The great thing is that we can put all this together and find out roughly, based on the purchase price, what you would be able to net. Take off what you still owe in your loan, which will be fully gone at closing, and then the proceeds will go from there.

I’m guessing that a seller could contact you to see how the team could put more money in their pocket when they are selling the house, correct?

Absolutely. You’ll want to go to HouseHuntersTeam.com and click on the home evaluation link. We’d be happy to tell you exactly what your home is worth and do a market analysis for you. We can find out all those numbers together.

Be sure to join us next time for the House Hunters’ tips on buying and selling a house. Have a great day!

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