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Item
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Estimated Cost
|
Tips
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Sales commission (if you list with an agent)
|
5 to 8 percent of your sales price
|
Since many Realtors charge similar fees, it is important to hire an experienced full-time Realtor®
|
|
Closing costs (includes transfer taxes, prorated property taxes, and legal fees)
|
2 to 4 percent of your sales price
|
In some states you prepay property taxes, which means you may get a credit at closing instead
of a bill. You may also get a refund of advance escrow payments you've made on your
homeowner's insurance. Check with your lender.
|
|
Mortgage payoff
|
The difference between your outstanding principal balance and what payments you will make
before your sale date.
|
If your loan has a prepayment penalty, add that to your principal balance. Ask your lender
to confirm your calculations. Some lenders charge a nominal fee for preparing a payoff
statement.
|
|
Pre-sale repairs
|
Varies. Older properties require more repairs than new ones, for example, and a well-maintained home may require none at all.
|
If your home is old or you haven't maintained it regularly, get a
pre-sale inspection to identify defects that
could scotch a sale.
|
|
Pre-sale cosmetic fixes
|
Varies from as little as $50 (three cans of $8 paint and $25 worth of screws, outlet covers, household oil, new furnace filter, cleaning solutions, for example) on upward.
|
Focus on fixes that will enhance your
home's salability, such as new paint and floor coverings.
|
|
Moving bill
|
May range from $1,500 to
|
|
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Home Advice
Get the answers on home selling and buying.
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The costs associated with selling a home can add up quickly. Before you sell, do the
math: Add your projected selling expenses to your moving costs. Then compare the
total to the expected sale price of your home.
Use this table to anticipate the costs of selling:
