Home Buying in Omaha>Question Details

Glarnold41, Other/Just Looking in

What are normal seller's fees?

Asked by Glarnold41, Mon Apr 22, 2013

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Usually the seller must pay their listing agents commission and the portion of the taxes they are responsible for. Sometimes after the inspection the lending institution will want the seller to make repairs before they are willing to loan the money to the buyer.
0 votes Thank Flag Link Tue Apr 23, 2013
Among the normal fees associated with selling a home are pro-rated taxes, title insurance, escrow closing fee, state revenue stamps, agent & broker commission and recording fees. Currently, it is normal for sellers to pay all or part of a buyer's closing costs, escrows and pre-paids; this is all negotiated in the contract. I think it is a good idea to call your lender and ask them to mail you a loan payoff amount prior to listing your home. This way there will be no surprises when it comes time to close. If there is a balance in your escrow account this will get mailed to you after closing. If you are considering listing your home and would like my professional opinion, I would to meet with you. You can call me at (402) 578-6223 or Megan.Dreesen@cbshome.com.
0 votes Thank Flag Link Mon Apr 22, 2013
Thank you. Very helpful.
Flag Mon Apr 22, 2013
In general, costs for a seller include mortgage payoff; recording mortgage release at courthouse (est $90); title insurance (based on sale price); sales tax ($2.25/thousand $ of sale price); closing fee (est $200); commission (negotiable and based on sale price--for example 6% of sale price); broker admin commission (est $250). Other costs that are negotiable include home warranty (est $500); buyer costs paid by seller (set 3% of sale price); and any repair costs associated with inspection results. Most costs are paid at closing and come off the top of a seller's proceeds. Repair costs are out-of-pocket at the time they are completed prior to closing but can be handled differently, too. If seller's proceeds are not great enough to cover costs to close, the seller will need to bring the difference in certified funds to closing.

This reply references the local market in the greater Omaha area.
0 votes Thank Flag Link Mon Apr 22, 2013
buyer costs "est" 3% of sale price, not set. Auto-correct:(
Flag Mon Apr 22, 2013
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