Wednesday, September 30, 2020 / by Bridget Bass
Common Closing Costs to Prepare for When Selling Your Home
Buyers are not the only ones who have to pay closing costs!
If you're planning to sell your home, you should consider the portion of closing costs you will have to pay as a factor in determining your sale price. Most of the closing costs will be deducted from the profit on the sale of your home.
While closing costs for sellers can differ due to variations in local tax laws and other requirements, you can expect to pay anywhere from 8% to 10% of the home's sale price during the closing, according to Zillow.com. It’s important that you know about these potential costs to understand your obligations as a seller and avoid unwanted surprises at closing.
Here are some of the most common closing costs for sellers:
1. Real Estate Agent Commissions
A typical commission is usually between 4 and 6% of the sales price of the home, which will be split between the listing agent and the buyer's agent. The real estate commission is usually t; ...
If you're planning to sell your home, you should consider the portion of closing costs you will have to pay as a factor in determining your sale price. Most of the closing costs will be deducted from the profit on the sale of your home.
While closing costs for sellers can differ due to variations in local tax laws and other requirements, you can expect to pay anywhere from 8% to 10% of the home's sale price during the closing, according to Zillow.com. It’s important that you know about these potential costs to understand your obligations as a seller and avoid unwanted surprises at closing.
Here are some of the most common closing costs for sellers:
1. Real Estate Agent Commissions
A typical commission is usually between 4 and 6% of the sales price of the home, which will be split between the listing agent and the buyer's agent. The real estate commission is usually t; ...
