9 Customary Seller Closing Costs

Selling a house can be very expensive. In fact, you can expect to pay from 6 to 10% or even more of your home's sales price at closing. We are going to show you the customary closing costs you should expect to pay as a seller when calculating the net profit from the sale of your home.

We'll reveal a headache-free way you can sell your house while eliminating most of your closing costs. 

The commission paid to a real estate company by FAR makes up the lion's share of the seller's closing costs. They can vary from 5 to 7% of your home's sales price.

A title insurance policy assures the buyer that the title to the property is free and clear and that the seller can in fact legally sell their home. The party responsible for paying the cost of title insurance varies from county to county and can often be negotiated in a contract. The costs range from 2% to 5% of the sales price.

Not all states require an attorney to be involved in a real estate sales transaction. Nonetheless, you may decide that's in your best interest to retain a lawyer to represent your interests in the sale of your home. This can cost you from $500 to $1,500 depending on the complexity of the transaction.

Prorated expenses are expenses that you have incurred and may not have paid during the time you were living in the home. They include property taxes, homeowners association dues and mortgage payoff. The mortgage payoff is the amount of interest that you owe.

Keep in mind that unlike rent payments, mortgage payments are made in arrears. A safe bet is to count on paying a one-month mortgage payment as a crude interest in addition to your mortgage loan balance. You may have to pay a prepayment penalty for canceling your mortgage before its scheduled payoff date.

A prepayment penalty could be equal to 3 to 5 months of your mortgage payments. Buyer's credits are monetary concessions from the seller to the buyer to cover costs such as home warranty, termite remediation, credits for repairs or as an incentive to close a deal. And finally, home preparation costs.

Though they are not technically closing costs and won't  appear on your closing statement, they should be taken into account since they reduce the amount of profit you'll receive from the sale of your home. Depending on the condition of your home, these costs could add up quickly. They include cleaning, painting, repairing and staging your house.

As mentioned to you earlier, there is a way for you to sell your home easily and save a bundle on closing costs. Sell your house to us and avoid paying commissions, real estate fees, buyer's credits and home preparation costs. We'll guide you through the entire sales process to make the sale as smooth and worry-free as possible.

Best of all, we can buy your home in an as-is condition for cash and close at your convenience. Call us today or Send us an E-mail to schedule a free no-obligation appointment. Selling your home to us is easy, safe and hassle-free.