Are you considering selling your home on your own so you can save money on the high agent commissions? Do you know the total costs of selling your home? What are the title company fees? What are the expenses you’ll have during the deal? Well you’re in luck, because we’re going over all that right now!
But first, I’m Eren Millam with Premiere Property Group … wait, what? What are you trying to sell me? Whoa whoa whoa, slow down. I haven’t even met you. Now consider this, who else would be able to give you the full picture of costs? Nobody. So I’m doing it so you can be informed. Let’s get to it!
Total Costs of Selling Your Home
First, its important to know there are some fixed costs and then there are some costs based on the sales price of the home – so everyone’s costs are going to be different. Your title company can give you a breakdown their costs which looks like this:
Closing Specific Expense Items
You’ll find Title and Settlement Charges, Recording & Transfer Taxes, Mortgage Payoffs, Commission if a realtor is involved, prorated property taxes, HOA dues if any. You can also plug in any extra fees like if you agreed to pay some of the buyer’s closing costs. These are your main costs that will come out of your net proceeds upon closing.
Deal Specific Expense Items
Other costs that most likely come out of pocket are any repairs to get the home ready for sale, septic pump & inspection if you live in a rural area, and any repairs after the inspection you agree to.
Total Costs of Selling Example
Every title company will have different Title & Settlement Charges. Every County will have different Recording & Transfer Taxes. However, in my area, Chehalis WA 98532 and Centralia WA 98531, it is safe to assume approximately 2.5% of the total sales price. So, if you’re selling for $400,000, you can expect these taxes and fees to run you about $10,000. So if you agree to pay some of buyer’s closing costs, that could run you another 10-12k. If there is an agent(s) involved, another 10-24k. Repairs will obviously be variable, and as of now, a septic pump and inspect will cost anywhere from 500-1000 dollars. Even without an agent, it is expensive to sell a house!
Hopefully, your head is not spinning from all these numbers, but if it is or if you have any questions, it doesn’t cost you anything to speak with an agent. Again, my name is Eren Millam with Premiere Property Group. Now, go out and make it an extraordinary day!