eXp Realty LLC
At the end of the real estate transaction come the closing costs. For seller costs, this can come to a significant amount of money on the closing date. However, the more you know about how closing costs are calculated, the better prepared you'll be for completing your home sale. Here are the most important things to know:
Closing costs for sellers vary based on multiple factors. Luckily, there are plenty of online calculators and other tools available for estimating your total closing costs. You'll need to combine property taxes, closing fees, title insurance fees, escrow fees and attorney fees with commissions paid to real estate agents.
Sometimes a seller can offer to cover the whole closing costs for the purchaser. This can help you win over a potential buyer in a competitive marketplace. A purchaser can ask for concessions in exchange for completing negotiations.
In some cases, buyers may ask for an offer to cover an issue found in a home inspection. Talk to your sales agent to find out if there's an alternative option to match your goals.
Closing costs will vary from one sale to the next, but sellers can typically expect to pay around 8% to 10% of the home's total sale price. The largest part of this percentage comes from real estate agent commissions, which can be as high as 6% of the purchase price. Other cost variables include local tax rates, homeowners association fees, legal fees and title insurance fees.
Your total seller closing costs will be due when you sign your final loan documents on the closing day. Make sure to have everything prepared to complete the transaction, as delays in closing can end up costing you more.
Once the seller pays closing costs and all the paperwork is signed, the sale is considered completed. Keep these basics for how and why sellers pay closing costs, and you'll be better prepared for every step of the process.
Hello, I'm Abbey, a lifelong resident of the growing Charlotte area! My joy stems from sharing this wonderful region with my young son and being an integral part of the community.
With a degree in Psychology from UNC Charlotte, I've seamlessly applied my academic knowledge to my fulfilling Real Estate career. My foundation in psychology has enabled me to understand the unique needs and preferences of my clients, fostering strong, lasting relationships in the process.
My journey in real estate has been shaped by unwavering integrity, diligent work ethic, and the meaningful connections I've forged with the incredible individuals who share the privilege of calling the Carolinas their home.
As a resident of Tega Cay, SC, my family and I delight in an active lifestyle, enjoying things like pickleball, yoga, lakeside adventures, and the Tega Cay outdoor concerts. Embracing the heart of this community, I am inspired to assist you in finding your dream home and loving where you live.
Let's embark on this exciting journey together, creating cherished memories and finding the perfect place you'll be thrilled to call home.
