Trulia Las V…, Other/Just Looking in Las Vegas, NV

Which expenses are sellers responsible for?

Asked by Trulia Las Vegas, Las Vegas, NV Wed Jan 23, 2013

Help the community by answering this question:

Answers

4
BEST ANSWER
It depends on whether you are selling your house outright or are doing a short sale. If you are doing a short sale, the lender pays for all the fees that the Seller would normally be responsible and there are usually no out of pocket fees for the Seller. If you are selling your house outright, some of the Seller's fees are negotiable. The commission is always paid for by the Seller and the other fees can be negotiable. What is customary in Clark County is for the Seller to pay for the County Transfer tax, 1/2 escrow, appraisal fee, owner's title insurance, and HOA fees (documents, transfer fee, etc.) and any prorations (sewer/trash/taxes) that are due at time of closing. Your agent can assist you with any of these questions and should provide you with an estimated cost sheet so you know approximately what it will cost you and what you will net after the sale.

If I can be of further assistance, please don't hesitate to contact me directly.

Sincerely,

Demetria

Demetria Kalfas-Gordon
ABR, GRI, RRG, SRES, Realtor

Fortress Real Estate Services
8225 W Sahara Ave., Ste H
Las Vegas, NV 89117

(702) 839-2798 direct
demihomes@gmail.com
0 votes Thank Flag Link Wed Jan 23, 2013
It varies depending on the type of sale it is (a short sale, equity sale, etc.) and the type of financing the buyer is receiving. FHA and VA have their specific guidelines, but with conventional financing the items for which the seller is responsible can sometimes be negotiable.

I have a list of the most common cost splits between the buyer and seller and would be happy to share that. Give a call or e-mail if you are interested.

Betty Gammon, GRI
Realty One Group
10750 W. Charleston Blvd. #180
Las Vegas, NV 89135
702-493-8680
FAX 702-255-0070
BettyGammon@cox.net
1 vote Thank Flag Link Wed Jan 23, 2013
Each area of the country has different customary closing costs for the Seller. And it can fluctuate depending on the market conditions, and if a Bank holds Title or is involved in the sale, i.e. short sale. In Southern Nevada most fees, with the exception of Seller paid commissions, are negotiable at the time of Contract. My best recommendation is to consult with a knowledgeable agent.
0 votes Thank Flag Link Sun Jan 27, 2013
The short answer is it is all negotiable. However, there are items that are customary in Clark County, such as: appraisal fee, 1/2 escrow, owners title policy, up to 3% towards buyers closing costs, real property transfer tax, commissions, hoa documents and sometimes the home protection policy.
Have your agent give you an estimate at the time of listing so that you have an idea what your costs will be upon receiving an offer.
Let me know if I can help you further.
Kelly Stafford, Prudential Americana
0 votes Thank Flag Link Wed Jan 23, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer