I am just wanting to be clear on if I owe property taxes or if I'll be credited.
I also thought it was .75% to the state for conveyance tax and .25% to the local municipalty (basically 1% of the sales price) that was charged. Town is West Haven.
Selling fees are fairly straight forward and here are the three primary expenses.
1. Broker fees - Listing your home with a REALTOR (not all agents are REALTORS) will cover marketing the home, provide you with someone working with your interests being put first, a skilled negotiator and assistance through the minefield of home inspections and helping with Buyer's financing being secured. If a Buyer comes with their own agent, the Buyer's agent is normally paid a portion of the listing agents fees that you have in your listing agreement. That makes the Buyer Broker's involvement free to the Buyers in most cases. Listing broker fees are not fixed - they vary and are negotiated between Sellers and their agents. If you list your home by Owner (FISBO), then you'll be paying for print ads, on-line ads, signage, attending showings, dealing with Buyers or their agents if you offer Buyer Broker commissions, negotiating the purchases agreement price/terms, handling appraisal inspections, home inspections, and then attending your closing.
2. Conveyance taxes to the town and state. They are normally 0.75% unless you are in certain towns or your selling price exceeds certain price levels.
3. Attorney fees. Your attorney will prepare the deed and handle paying off your mortgages. You'll get reimbursed for prepaid property taxes and fuel in your home's tanks.
Hope this info helps.
Greg Hanner, REALTOR, Broker, e-PRO