Question:
“How much are the costs when you sell a home?”
Answer:
In addition to the real estate fee, you will have:
- Just under 1% for title insurance, half the escrow fee, county transfer tax, HOA (homeowner association) documents (if any) and other smaller fees.
- An unknown amount for repairs the buyer requests that you agree to, including termite / pest control. The average is about 1%, but it varies from 0% to 5% or more in extreme cases.
If you want a simple rule of thumb, use 8%. But just know that it could be more.
Be aware that there are also prorations for loan interest, property taxes, and HOA fees (if any). These are costs of owning, not selling, but can feel like a selling cost because they’re settled up at closing. This typically varies between a 1% credit and a 1% debit.
