What are the typical closing costs?

Asked by K&c Ruggiero, 45040 Mon Apr 14, 2008

I'm FSBO/agent assisted, offering 3% buyers agent commission. My condo has been on the market for almost 30 days. We've had tons of traffic & my flyers are disappearing daily. We are priced at $156k. Homes in my neighborhood are currently selling between $140 - $250k.
I'm offering an incentive on HOA fees, and thinking about an additional incentive of some $ towards closing costs.
I'm struggling to find out how much closing costs are? and how much is the "norm" for offering to assist with.

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David M. Chi…, Agent, Uniontown, OH
Mon Apr 14, 2008
For a condo at $156k, an offer of $1,000 toward closing costs would be generous. It sounds like you are doing all the right things to sell, good luck.
Web Reference:  http://www.liveinakron.com
2 votes
Tracy Johns, Agent, Cincinnati, OH
Thu May 1, 2008
Good Heavens---I hope you're not paying this agent anything! If you have this many questions and really need to sell your condo, please, please hire a full time professional who can guide you from start to finish. With the number of units Drees sold of your floor plan there has to be plenty of comparable sales to choose from--recent sales that show what your property should sell for. Incentives DO NOT sell homes. You're trying to save money on a full time agent yet you're talking about giving it away in a sales concession/incentive.

My clients receive the best sale to list price ratios--better than their competition because we study the market and work the market we're in. If you want the help, I'm an email away.

Good luck!

Tracy Johns
RE/MAX Unlimited
0 votes
John Youker,…, , Beavercreek, OH
Mon Apr 14, 2008
You mentioned that you were agent assisted in your listing. MAybe your agent should answer those questions for you. We always provide our sellers with all the necessary numbers to make informed decisons. Sometimes trying to save a buck will cost you two!

Be carefull with the largets investment you will ever make, dont let it become the largest loss you will ever have!
Web Reference:  http://www.SWOhioRealty.com
0 votes
Keith Sorem, Agent, Glendale, CA
Mon Apr 14, 2008
K & C
How could you list your home without knowing what your net proceeds would be? One of the first things a Realtor would do is determine your net proceeds and make sure you are okay with it. After reading your posts, I do not want to sound cold, but the questions that you are asking cannot be answered by someone that does not know
1. Your home
2. Your market
3. Your situation

We'd like to help, however the real danger is reading an answer posted here, then acting on it, and finding out later that it was the right answer, but to the wrong question.
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