How Much are Closing Costs for Seller?

Whenever a real estate deal transpires, the buyer is not the only party responsible for all costs. The seller also has to contribute for some expenses, which are called seller closing costs.

What are Closing Costs?

The expenses that are paid by both seller and buyer at the conclusion of a real estate deal is called Closing Costs.

Who Pays Closing Costs?

Closing cost to sell a house include a myriad of expenses that are shared by both buyer and seller at the closing of a property purchase. Closing costs for buyers typically fall between 2% and 6% of the sale price. Considering sellers typically pay broker commission, seller closing expenses typically range between 8% to 10%.

What are costs of selling a house?

Sellers have to pay a few expenses like taxes, fees and for other services while closing the property deal. The majority of the seller’s closing costs are deducted from the sales proceeds. The cost of both brokers’ commissions is commonly covered by the seller, despite the fact that buyers typically have to pay more closing costs.

Here is a list of the closing costs that sellers can expect in a real estate deal:

Property Closing Costs:

  1. Home Inspection fee
  2. Home Warranty Fee
  3. Utility Bills
  4. Owner’s Title Insurance
  5. Municipal Lien Search
  6. Credits Towards Closing Costs
  7. Mortgage Closing Costs:
  8. Mortgage Payoff

Administrative Fees:

  1. Attorney fees
  2. Escrow fee
  3. Settlement Fee/Escrow Fee
  4. Real Estate Agent Commission

Government fees and real estate taxes:

  1. Property taxes
  2. Documentary Stamp/ Transfer Tax

HOA Fees:

  1. Homeowner Association (HOA) Fee/ Document Fee
  2. HOA Estoppel Fee

Cost to Sell House

RegionStates/CitiesSelling House Cost
NortheastStates Cost to Sell House Connecticut | Cost to Sell House Massachusetts | Cost to Sell House New Hampshire | Cost to Sell House New Jersey | Cost to Sell House New York | Cost to Sell House Rhode Island | Cost to Sell House Vermont | Cost to Sell House Maine | Cost to Sell House Pennsylvania
MidwestStatesCost to Sell House Illinois | Cost to Sell House Indiana | Cost to Sell House Iowa | Cost to Sell House Kansas | Cost to Sell House Michigan | Cost to Sell House Minnesota | Cost to Sell House Missouri | Cost to Sell House Nebraska | Cost to Sell House North Dakota | Cost to Sell House Ohio | Cost to Sell House South Dakota | Cost to Sell House Wisconsin
SouthStatesCost to Sell House Alabama | Cost to Sell House Arkansas | Cost to Sell House Delaware | Cost to Sell House Florida | Cost to Sell House Georgia | Cost to Sell House Kentucky | Cost to Sell House Louisiana | Cost to Sell House Maryland | Cost to Sell House Mississippi | Cost to Sell House North Carolina | Cost to Sell House Oklahoma | Cost to Sell House South Carolina | Cost to Sell House Tennessee | Cost to Sell House Texas | Cost to Sell House Virginia | Cost to Sell House Washington, D.C. | Cost to Sell House West Virginia
WestStatesCost to Sell House Alaska | Cost to Sell House Arizona | Cost to Sell House California | Cost to Sell House Colorado | Cost to Sell House Hawaii | Cost to Sell House Idaho | Cost to Sell House Montana | Cost to Sell House Nevada | Cost to Sell House New Mexico | Cost to Sell House Oregon | Cost to Sell House Utah | Cost to Sell House Washington | Cost to Sell House Wyoming

Conclusion

As a seller you must know exactly what you will be responsible for paying at closing of a property transaction. A large portion of closing fees in a real estate transaction are normally covered by the buyer, although sellers also have to cover some expenses. Remember that closing costs may vary according to changes in local tax rules, lending fees, and title and settlement fees.

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