Home Buying in 85207>Question Details

janetandward, Both Buyer and Seller in Mesa, AZ

Seller closing costs

Asked by janetandward, Mesa, AZ Thu Apr 25, 2013

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7
Jeff Masich’s answer
Dear Janet:

Your Realtor will review this for you and based on your taxes and title insurance, real estate commissions, seller contributions to buyers closing costs, escrow fees and figure your transaction out. Trulia has some tools if you do not have a Realtor yet to plug in your personal variables.

Jeffrey Masich, Realtor, GRI, MBA
HomeSmart
Arizona homes and land for purchase or sale
http://ArizonaHomesLand.com
JeffMasich@ArizonaHomesLand.com
480-556-0940
0 votes Thank Flag Link Thu Apr 25, 2013
What is your question? Are you currently selling your home?
0 votes Thank Flag Link Thu Apr 25, 2013
Janet and Ward,

There are some pretty good answers below.

Your Net Sheet will provide you with an estimate of what to expect.

It will include items like: Escrow Fees, Title insurance fees, fees for the loan payoff (if you have a mortgage) and recording fees for the new transaction, HOA disclosure fees if you are in a HOA, broker commissions, etc.

Please feel free to call me to discuss.
Steffy
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Thu Apr 25, 2013
I think Mark made it pretty clear.. keep some cash reserves for repairs, HOA transfer fees, VA funding if needed.
0 votes Thank Flag Link Thu Apr 25, 2013
Janet

Closing costs are one of the items we discuss in detail with you, we provide a net sheet so you can see exactly what to expect at closing. I would prefer you have no surprises in the process!

The net sheet is also part of our planing process if you are moving to another home so that we know what you will receive form your current home. We have had success with bring all of the details together to remove the stress for you.

The net sheet will be custom for you depending on the date of the sale, the type of financing a buyer might use etc. Do you have an HOA?
0 votes Thank Flag Link Thu Apr 25, 2013
Escrow and title fees for a seller are on average about $1700-$2000, which doesn't include commissions. So for example, if you hire an agent to sell your home for 6%, then you would have an additional $18,000 withheld at closing for those fees in addition to the fee above. So you are probably looking at around $20,000 in expenses to list your home with a broker.

I'd be happy to meet you today and discuss how I can help you sell your home and prepare an estimate of value for you as well as explain the entire selling process including a complete breakdown of the NET SHEET for you.

Call me - 480-773-5195
Web Reference: http://gowithhardy.com
0 votes Thank Flag Link Thu Apr 25, 2013
What i meant to ask is how much should I expect them to be. We're in East Mesa and the value is $300,000.00
0 votes Thank Flag Link Thu Apr 25, 2013
Hi Janet,
On a $300,000 home, the sellers closing costs will more likely be over $3,000.
Typically the seller pays for the Owners Title Insurance Policy, 1/2 of the escrow fee, tax prorations for the time seller owned the home and 1/2 the recording fees. However, if you have provided for a seller concession, which would be on the sales contract as a certain percentage of the sales price, you would have to honor that as well.

I was an escrow officer for several years and am familiar with the expenses.

Please call me with any other questions or concerns.

Best of Luck,

Lisa Markham
Envoy Mortgage, Ltd.
NMLS# 947738 / AZ# 0921717
520.240.9602
lmarkham@envoymortgage.com
https://lmarkham-envoy.mortgagewebcenter.com
Flag Sat Apr 5, 2014
Closing costs should be less than $2,000 for you. You might also have property taxes to pay for 2nd half as well.
http://www.onestopre.com/Roster/15556/Mark-Willis.aspx
Flag Thu Apr 25, 2013
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