Straight Talk About Seller Costs

We don’t like anyone to be left in the dark, so here’s the scoop about the costs of selling your home, straightforward, in black and white.

Escrow: Fees for escrow companies usually start with a base fee, then add a small percentage of the price of the home. For example, an escrow company might charge a base of $300 plus $2 for every $1000 of the home. So a home valued at $500,000 would cost $300 plus $1000 or $1300. There are also some additional fees charged through escrow for additional services that may be needed for your particular situation. Our preferred escrow is Lighthouse Escrow. Click here to learn more about them or to get an estimate for your total escrow fees.

Title Insurance: Although you probably won’t need it, you have to buy it. What is it? Click here to find out. But as far as costs go, as a Seller, here is what you can expect to pay for title insurance for a home with the following price tag:
$250,000
$500,000
$750,000
$1,000,000
$1,500,000
$2,000,000
$3,000,000
$5,000,000

Transfer Tax, City Tax, HOA Transfer Fees: Normally the seller pays for these fees which usually range from $100 to $500. (They get you coming and going, don’t they?)

Termite Repairs: Although this fee is negotiable, most of the time the Seller pays for it. We have seen homes with no termite repairs needed and other homes with over $20,000 in repairs needed! This fee is usually paid through escrow out of the proceeds of the sale. If you’d like to have an inspection or treatment completed at your house, you can find a list of our preferred termite companies here.

Home Warranty: Normally, but not always, the Seller provides the Buyer with a one year home warranty. This fee usually can range from $300 to $500. Why provide it? Find out here.

Moving: Whether you are a do-it-yourselfer... or you prefer to order up a white-gloved moving company to handle everything, moving will cost you. You’ll need a truck, boxes, tape, wrapping, and other materials not to mention plenty of manual labor. For a list of our preferred moving companies, click here. (Disclosure: We’ve never actually known a white-gloved moving company.)

Real Estate Agents: Who pays for the real estate agents involved in the sale of your home? How much are do they cost? Well, that’s debatable... and negotiable, respectively. Remember, commissions are negotiable, so be sure you feel confident your agent is earning the commissions you are agreeing to pay them. There is a reason why some real estate brokers (like Fitzpatrick & Prince) consistently sell their listings faster and for higher prices. Here’s an article we wrote about commissions.

Other Fees: Okay, we are trying not to forget anything, here, so bare with us. Don’t forget about the cost of preparing your home for sale. Paint, cleaning, new flowers, etc. Also, let’s not forget about unknown problems that can pop up during the Buyer’s inspection. Repairs. That furnace is acting up again! Here are a few handymen to call.

The most important thing about fees is for you to not get caught off guard. If you’d like an estimate on the total fees for selling your home before you list it, contact us for a consultation at your home... or at Hooters, whichever you prefer.