Home Selling in 23452>Question Details

Margo Nelson, Home Seller in Virginia Beach, VA

What are the closing costs estimated to be on a sale of $130,000?

Asked by Margo Nelson, Virginia Beach, VA Wed Jan 23, 2013

How do I estimate how much the fees will be to close the sale?

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Answers

5
Robert H. Ashburner, Jr.’s answer
Margo, thank you for your question and the opportunity to respond. Closing cost in many cases are directly tied to the loan program selected by a buyer. In the state of Virginia there are essential four different loan programs that work well in this price range along with potential down payment and closing cost assistance programs – please call me to ask about those (757) 652-5851. The most popular programs in the state of Virginia are VHDA Conventional 30 YR FIXED, VHDA VA, VHDA FHA Standard, and the VHDA FHA PLUS.

I have worked up on of the most popular closing cost work sheets using the VHDA FHA PLUS with the following assumptions and conditions to give you an idea. Minimum representative credit score of 680, Sales Price as you ask about of $130,000.00, Estimated City Assessment of $150,400.00, Property located in the City of Virginia Beach, Virginia - resulting in a property tax rate of $0.95, 3.500% second mortgage secured through the VHDA FHA PLUS, Earnest Money Deposit of $500.00 and Seller Concessions of $5,000.00.

http://www.facebook.com/media/set/?set=a.2089732959048.21040…



Please also accept my invitation to attend a FREE 6 hour First Time Home Buyer Education Class on 2-23-2013 from 9:00 AM to 3:00 PM in Virginia Beach, Virginia. The location of the class is the Training Room at http://www.BeachFord.com 2717 Virginia Beach Boulevard, Virginia Beach, Virginia 23452. If you want to attend and bring a friend or friends I only ask that you let me register in advance at (757) 652-5851 so that I will have enough FREE VHDA first time homebuyer handbooks for all participants.
0 votes Thank Flag Link Tue Feb 5, 2013
6 % of the sale price (do the math)
0 votes Thank Flag Link Sun Jan 27, 2013
Margo,

Are you a buyer or seller? If your a seller the cost to sell is roughly 9-10% of the sales prices.. If you're a buyer and looking at paying your own closing costs, you are looking at approx 3-4% of the sales price. If you would like a more definite answer please feel free to contact me. This market can be tricky, but when working with a professional like myself you'll be sure to get the right answers.

Jason Houser
0 votes Thank Flag Link Sun Jan 27, 2013
Margo, everything's negotiable and if money is tight on your sale there are ways to get things done. I live in and sell 23452. Call me and we can talk about your situation.

David Taylor
A Realtor with Taylor-Made Solutions!

(757) 377-2133
dtaylor@roseandwomble.com
http://www.taylormadehomesales.com
0 votes Thank Flag Link Wed Jan 23, 2013
Margo,

Your costs associated with the sale of your home on the seller side would be approximately $9500 (closing / title company fee, grantor's tax, recording fees, Realtor fees of 6%). This does not include any prorated taxes or HOA dues (if in an association) or your payoff. This is just a rough estimation.

I have a colleague in Virginia Beach I'd be happy to refer you to for more detailed information. Let me know if I can help you further.

Lisa
0 votes Thank Flag Link Wed Jan 23, 2013
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