What Additional Costs Are Associated With a Home Sale?
You will be responsible for Standard Title Insurance, half of the Escrow fee, Sales commission, excise tax and other miscellaneous fees, in total about 8% of the sales price.
The seller pays:
- Brokerage commission (the sum or percentage of the sale price, previously agreed upon by the seller and real estate agent)
- One-half of escrow or legal fees paid to the attorney or escrow company for preparing the closing
- Document preparation fees
- Recording and notary fees
- Title search and title insurance (paid by either the seller or the buyer)
- Local transfer taxes, if any
- State taxes, if any
- Repairs or inspections you have agreed to pay for
- Total is typically 8-9% of sales price