Selling your home is a significant decision, and as your trusted realtor, Melissa Glaude, I am here to ensure the process is smooth and transparent. One of the essential aspects of selling is understanding closing costs, which typically range between 6% to 10% of the sale price. These costs are deducted from your proceeds and include various fees and obligations. Let me guide you through what you need to know.

1. Real Estate Agent Commission

The largest portion of closing costs is the real estate agent commission, which is usually 5% to 6% of the sale price. This fee compensates both the listing agent (me) and the buyer’s agent for facilitating the transaction. For instance, if your home sells for $400,000, the commission would range from $20,000 to $24,000.

2. Transfer Taxes and Recording Fees

When transferring the property title to the buyer, you’ll need to cover transfer taxes or recording fees. These government-imposed charges vary by location but are necessary to complete the transaction legally.

3. Title Insurance Costs

As the seller, you typically pay for the owner’s title insurance policy, which protects the buyer from potential disputes or claims on the property title. This one-time cost helps ensure a smooth and worry-free ownership transfer.

4. Attorney or Escrow Fees

Depending on local regulations, you may need to hire an attorney to handle the legal documentation, or the closing might be managed by an escrow company. These services ensure all conditions of the sale are met.

5. Homeowners Association (HOA) Fees

If your property is part of a homeowners association, you’ll need to settle any outstanding dues. Some HOAs also charge a transfer fee when the property changes ownership, so be prepared for this expense.

6. Property Taxes and Prorations

At closing, you’ll be responsible for settling any unpaid property taxes. If you’ve paid taxes in advance, you may be refunded a prorated amount for the months following the sale.

7. Repairs and Seller Concessions

Buyers sometimes request repairs or seller concessions to cover their closing costs. These items are often negotiated during the sale process, so having a clear understanding upfront helps avoid surprises.

8. Mortgage Payoff Fees

If you still owe money on your mortgage, the remaining balance must be paid off at closing. Some lenders may also charge prepayment penalties, so it’s essential to review your loan terms in advance.

9. Additional Fees

Other potential costs include:

• Courier or wire transfer fees for documents and payments.
• Home warranty costs if you provide one to the buyer.
• Fees for inspections or appraisals done during the sale.

Plan Your Sale with Confidence

With my expertise and personalized approach, I’ll help you navigate the closing costs and maximize your profits. Selling a home doesn’t have to be stressful—let me handle the details while you focus on your next chapter.

If you’re ready to sell or just want to discuss your options, feel free to reach out to me, Melissa Glaude, for trusted advice and guidance tailored to your needs.