Selling costs in a real estate transaction can be variable. The costs depend on how the contract was agreed upon by the buyer and the seller. However, there are several fixed costs, which are only paid for by the seller. Below is a typical breakdown of seller costs associated with a real estate transaction.
In a real estate transaction, the seller pays the brokerage fees, which are usually, are split 50/50 between the listing and buying agents. You can expect to pay 6 percent of the final sales price towards your total brokerage fees. However, it is not uncommon in today’s market to extend a bonus of 1% or more to either the buying agent or buyer to quickly attract a buyer.
Title fees are paid for at closing and are deducted from your sale proceeds.
- Deed Preparation Fee
- Closing Fee
- Recording Fee
- Attorney Fees
- Messenger/Courier Fees
TAXES & OTHER FEES
Taxes and other transactions costs are also paid at closing from the proceeds from your sale.
- Jurisdiction-Specific Transfer/Recordation
- Unpaid Assessments (HOA/Condo Dues/Taxes, etc)
- Release Fees (mortgage payoff and any other liens on the property)
- Home Warranty