Do Seller's Have Costs Associated with Selling?
by +Sarah Marrinan - Keller Williams Premier RealtyYES.
OK, so what are they? Here is a list of home sale related expenses that sellers may incur but don't let this list intimidate you. Not all items apply to all sellers. You really need to consult an agent to decide what expenses are applicable to you.
Potential Seller Expenses at Closing
Pay-off Present Mortgage |
Interest Adjustment |
Pay-off 2nd Mortgage |
Pay-off Home Equity Line |
Mortgage Courier Fee |
Seller Paid Buyer Closing Costs |
VA Funding Fee |
VA Closing Fee |
FHA Service Fee |
1 Month Association Dues (if HOA) |
Association Letter Prep. Fee (if HOA) |
Special Assessment Search |
Special Assessment Levied or Approved |
Future Pending Special Assessments |
Brokerage Fee |
MLS Buyer Broker Portion |
Partners Title Closing Service Fee |
Broker Retainer Fee |
State Deed Tax |
Other Title Charges |
Estimated Recording and Transfer Fees |
Balance of Real Estate Taxes Due |
Homeowner's Warranty |
Well Disclosure Filling Fee |
MN Conservation Fee |
Septic Compliance |
Water Test |
Some services that may or may not be included in your brokerage fee: Home inspection, Home Repairs/Handyman, Staging, Cleaning, Landscaping, Professional Photos, and Movers.
And we can't forget, some people will have capital gains tax... http://www.irs.gov/taxtopics/tc701.html
Need a list of expenses specific to you? Call me for a free consultation. (Hint, my contact info is in the side column of this blog.)
See Also:
How To Save Money For Buying a Home | Tips for Selling Your Twin Cities Home | Four Horrible Real Estate Mistakes To Avoid | Housing Market Updates
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