The selling expenses are very important to look into before actually making your final decision to sell your home.
Below is an estimated cost you can expect to pay in fees when selling your home:
- Title fees usually run around 1% of the purchase price depending on the title company that you use.
- Agent commission usually runs at 6% of the purchase price. This includes 3% for a listing agent and 3% for the buyers agent who brings the buyer to your home.
- Optional expenses may include a home warranty. A large majority of buyers will request that the seller pay for a home warranty, this will usually run anywhere from $300-$400. A very large percentage of home buyers are FHA financed and will request help from the seller to pay their closing costs, this would be another optional expense. The average amount needed to cover the buyers closing costs is 3%.
Here is an example of a home selling for $200,000
Purchase Price $200,000.00
Title Fees $2,000.00
Agent Commission $12,000.00
Buyers Closing Costs $6,000.00
Home Warranty $400.00
Title Fees $2,000.00
Agent Commission $12,000.00
Buyers Closing Costs $6,000.00
Home Warranty $400.00
Each real estate transaction is different and fees differ depending on the negotiation between the seller and the buyer. Please contact us to help you any further in calculating your selling expenses.