KNOW YOUR FEES
Home Repairs & Improvements Before listing your home, you may need to invest in repairs or
Closing Costs:
As the seller, you may be responsible for certain closing costs, which can include fees such as attorney fees, title insurance, transfer taxes, escrow fees, and recording fees. These costs are negotiable.
improvements to make the property more marketable.
Mortgage Payoff and Prepayment Penalties: If you have an outstanding mortgage on the property, you'll need to pay it off when selling. Some mortgages may have prepayment penalties or fees associated with early repayment, so it's important to review your loan agreement and consult with your lender.
Commission Fee:
The most significant fee is usually the commission fee paid to the real estate agent or broker who represents you. The typical commission is a percentage of the final sale price and is typically split between the seller's agent and the buyer's agent. The percentage can vary but is often around 5-6% of the sale price.
Title and Escrow Charges:
These ensure the property’s title is clear and cover the fees for a neutral party to manage the transaction
Other potential fees: HOA Transfer fee
Once an offer is received, your agent can create an estimate of what your net proceeds will be.
ECAD fee Survey fee Prorated taxes
The Summers Group
Hoyden Homes
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