Real Estate Agent Fee
Fees typically range from 5-6% of the sales price, but they’re negotiable and can be included in the terms of the offer. Sellers may also choose to cover buyer’s agent concessions.
Moving Expenses
Don’t forget to budget for moving costs. This includes hiring movers, renting a truck, buying packing supplies, and possibly storing your belongings temporarily.
Repairs & Improvements
Many sellers invest in repairs or cosmetic updates before listing. This could include painting, fixing leaks, or upgrading fixtures.
Mortgage Payoff
If you still owe money on your mortgage, the remaining balance will be paid off at closing. This amount will be subtracted from the sale proceeds.
Buyer Credits
Optional, but sometimes offered after inspection to cover requested repairs or closing costs.
Closing Costs
Title Insurance (Owner’S Policy)
Protects the buyer from future title disputes; often paid by the seller, varies by state and home value.
Escrow Or Settlement Fees
Covers document handling, fund distribution, and closing coordination.
Transfer Taxes
Local government charges based on sale price; may be a flat rate or a percentage.
Hoa Fees And Document Prep
Includes HOA resale package and transfer fees
Property Taxes
Seller pays property taxes owed up to the closing date.