Presented by Dwight Wimberly / Realty Associates

COMMISSION:  The fee a Realtor charges for selling a property.  The listing agent customarily shares a portion of the commission with the agent working with the buyer.  Commissions are negotiable.

 

OWNERS TITLE POLICY:  This fee is usually less than 1% of the selling price.  The residential contract used by Texas Realtors allows this fee to be paid by the seller or buyer, however in most transactions the seller pays this cost.

 

MISC. FEES:  These include preparation of the deed, recording fees, tax certificate and a closing fee by the title company.  These fees are generally under $500.

 

HOME WARRANTY:  Also known as a home protection plan, it provides some repair coverage for appliances and other home systems.  Providing a home warranty can be negotiated between a buyer and selling in a sales contract.  Basic coverage averages between $350-$400.

 

BUYER CLOSING COST:  In some transactions, the seller may agree to pay some of the buyer's cost in order to make the deal work.

 

TAX PRORATIONS:  The property taxes including any annual home association dues are prorated to the day of closing.

 

LOAN PAYOFF:  The seller's mortgage loan payoff balance is subtracted from the sales proceeds.

 

Note:  This list does not cover all the costs that can occur in a transaction.  Not all homes sales are the same.  If you are represented by a Realtor in a transaction, you should rely on your Realtor to explain all costs involved with the sale.

 

If you are thinking of selling your home, give Dwight a call to get an estimate of your net proceeds.

 

 

Typical Seller Closing Costs