Do sellers pay closing cost too/ What are closing cost to be paid by the sellers?

Asked by Masally Taneza, Torrance, CA Tue Jun 5, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

11
Sona Gallatin, Agent, Santa Clarita, CA
Tue Jun 5, 2012
Buyer and seller both have closing costs. Ask your listing agent or escrow to give you a break down of how much it will be.

Good luck
1 vote
Ron Thomas, Agent, Fresno, CA
Tue Jun 5, 2012
Normally, the Sellers pay the "Owner's Title Policy", the "Transfer Tax" and half of the "Escrow Fee".
Since everything is negotiable, and everything is variable; I cannot give you numbers.
If you are LIsting your house, you can conact a Title Company, and have them do a hypothetical HUD1, (since you do not know the selling price yet).

Good luck and may God bless
1 vote
Heather Paul, Agent, Santa Monica, CA
Wed Jul 11, 2012
Yes, sellers also have closing costs. Sometimes, buyers can also negotiate in their offer to ask the seller to pay their closing costs. Your real estate agent should have given you a sellers net sheet that gives a close estimate to what the closing costs will be and approximately how much you will net from the sale of the property. Also, if you are in escrow already, the escrow officer can provide you with a detailed copy of the fees.

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-586-0364
http://www.HeatherPaulOnline.com
0 votes
Sona Gallatin, Agent, Santa Clarita, CA
Thu Jun 28, 2012
To echo my fellow Realtors, yes sellers have their own closing costs as well. Your agent should, if not already done, give you an estimate of what those closing costs will be.
0 votes
Dorene Slavi…, Agent, Torrance, CA
Wed Jun 27, 2012
Dear Sally,

Yes there are quite a few "closing costs" for both buyer and seller in a Real Estate Transaction. I would recommend you discuss these with your Realtor who can assit you in understanding what is required. You should also have gotten an estimate of what those costs will be.
0 votes
Kathleen Bec…, Agent, Santa Monica, CA
Mon Jun 11, 2012
Hi Sally:

Yes, sellers pay closing costs. It is all spelled out in your purchase contract. Closing costs are also negotiable...usually the Buyer and Seller each pay their own escrow and title fees. Items that can be negotiated to be paid by seller are: Home Warranty, Termite, Certificate of Compliance and any mandatory government retrofit, repairs, credits to buyer for non recurring closing costs and fees (this all depends on the type of loan you have), tenant relocation fees if tenant occupied, any repairs or credits for repairs negotiated during the sale, HOA transfer fees and anything else in the purchase contract.

Good luck!

All the best,
Kat Becker, Realtor
Prudential California Realty
katbecker@prula.com
0 votes
Madelaine Ko…, Agent, Los Angeles, CA
Tue Jun 5, 2012
Ok sally, your Realtor should be walking you through this..Title insurance, Retro-fitting(per city and county),Commissions, Escrow fees, termite, city and county transfer taxes. Some others depending on offer, like home warranties. Do you own a condo or a single family? HOA documents...Your agent should be able to get you a closing cost statement once you list?

Hope that helps,

Madelaine Kolisnyk, Realtor Los Angeles, Listing Specialist
310.869.1712
http://www.Madelainek.com
DRE#01377862
0 votes
Edith Karoli…, Agent, Winnetka, IL
Tue Jun 5, 2012
I am not sure how come that you the SEller do not know what your closing costs are. I am assuming that you are not working with a Realtor, who would make sure that you are aware of the closing costs
(survey, commission, title search, may be real estate attorney fees, transfer stamps, recording fees,
etc. etc.)

I am not sure if you have already put your home on the market as a for sale by owner or if you are considering to list with a Realtor / Brokerage Company, I strongly suggest you do to find out what
these costs would be, where to price your home, how far to negotiate and what your potential net to
seller at the closing table would or could be...

If you need a recommendation for a Realtor/Realtors in the San Pedro CA area, get back to us and
we gladly make some good recommendations.


Good Luck to you!
EdithSellsHomes@gmail.com
Edith YourRealtor4Life! Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike.... Covering the city of Chicago, all N and NW suburbs and the fine homes of the North Shore. Edith always goes the X-tra Mile with SMILE for her clients.

@Properties Northshore - 30 Green Bay Road, Winnetka, Il. 60093
Feel free to visit my website to get to know me and my services better...
0 votes
Deborah Brem…, Agent, Los Angeles, CA
Tue Jun 5, 2012
Hi Sally;
If you want a general breakdown, email me the price of your home, and I can give you an itemized estimate.
Below are some items always included:
Escrow fees (Base fee plus $2.00 per $1000 of purchase price is average)
Title Insurance (Owner’s Policy) (In an amount to cover the full purchase price)
Document Preparation and Notary Fees
CHARGES BY EXISTING LIEN HOLDERS
Interest to payoff date
Taxes/ Prorations

Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
http://www.thebremnergroup.com
0 votes
Cindy Davis, Agent, San Diego, CA
Tue Jun 5, 2012
Absolutely! Sellers pay for both Realor commissions, half of escrow, title insurance and usually pay for transfer fees, hoa documents and transfer fees. It is not cheap to buy or sell homes...these are costs that are part of the transaction and you will grumble about it. It's just part of the process!
0 votes
Janey Bishop, Agent, Calabasas, CA
Tue Jun 5, 2012
Also depends on who the Seller is. A private Seller generally covers their title insurance, half the escrow, commissions, retrofit, termite, transfer taxes, hoa items, city certifications. If it is an REO or a short sale they may not cover many of these items. Buyer who is financing pays for lender fees, appraisal, lender's title, their share of escrow, their own inspection, notaries,....
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more