Common Seller Closing Costs – What You Need to Know
Both buyers and sellers pay closing costs & costs can differ due to variations in local tax laws, lender costs, and title and settlement company fees.
Seller closing costs are a combination of taxes, fees, prepayments and services that vary depending on your location. According to Zillow.com, the average closing costs for a seller total roughly 8% to 10% of the sale price of the home, or about $19,000-$24,000, based on the median U.S. home value of $244,000 as of December 2019.
Here’s a quick breakdown of potential sellers’ costs and fees:
- Agent commission
- Transfer tax
- Title insurance
- Escrow and closing fees
- Prorated property taxes
- HOA fees
- Credits toward closing costs
- Attorney’s fees
There is no reason to go into the closing without knowing what your closing costs are going to be. Your agent can help you out here. Just tell them that you want to estimate your closing costs and they can take you through the process. Any real estate agent worth their salt should be answering how much it costs to sell a home upfront. You want to be as certain as possible that once you sell your home you can walk away without any more concerns.
We have everything you need to buy or sell quickly! Contact Future Vision Real Estate today at 914-406-3118.