What is the rule of thumb on seller's expenses not including realtor fees?

Asked by Catherine, 75038 Sun Apr 14, 2013

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Dixon Wong’s answer
Dixon Wong, Agent, Dallas, TX
Mon Apr 15, 2013
Hi Catherine,

You will have mostly Title insurance that runs about $1800 depends on the home value. Then you have all the title company fees and laywers fee. And if you agree to pay for the survey (if you don't have one) then that another 400 roughly.

Or if you are in a condo then you will have the fee for condo resale certificate and the owner transfer fees. that can go from 300-700 dollars.

I can email you a closing worksheet that listed all the details. You can email me at dixondfw@gmail.com

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Bruce Lynn, Agent, Coppell, TX
Sun Apr 14, 2013
About 2-3%...but that can also depend on the value of the house and what services you need.
For example if the seller needs to pay for a survey that can run something like $400-$600 in many cases. So on a $50,000 home that's a big chunk of money.....if the home is a $1mil it is about the same cost ...so a much smaller percentage.

When we list a home, we'll go over all the expenses you would be expected to pay. Some are negotiable depending on your realtor...for example it is not clear who should pay for a survey? Buyer or Seller?

If you are thinking of selling your home I sure would like to see it.

You can see more information on the latest happenings in 75038 at this link:
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Kim Nwachukwu, Agent, Irving, TX
Sun Apr 14, 2013
Somewhere around 3% Catherine. Of course, that is not a hard and fast rule of thumb. Live in an HOA? Resale certificate and transfer fees would be on top of that. Owe a mortgage? Or two? Your mortgage companies will want admin fees to pay those off. There can be a few more or a few less depending on your situation, and talking with a Realtor might help you with your decision. These are the types of things we talk with sellers about in personal meetings every day.
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Thank you very much. That's exactly what I'm looking for. I would love to get your contact information privately in case I do decide to move forward with the sale of my home.
Flag Sun Apr 14, 2013
Catherine, Home Seller, 75038
Sun Apr 14, 2013
Thanks very much for the responses. I do understand that there are many contingencies including possible cost of repairs, etc.. I am looking for the reasonable and customary closing costs that are usually paid by sellers assuming the realtor fees, cost of repairs, etc will be on top of that. I've been told it's safe to assume it's a % of the sale selling price and that's what I was looking for. Not quite ready to put the house up for sale unless I know it makes sense to sell.
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Don Tepper, Agent, Burke, VA
Sun Apr 14, 2013
Relatively minimal. But, as Lynn911 notes, that wouldn't include things like requested repairs. I'm assuming you're talking about closing costs. It also depends a lot on where you're located--both what the required costs might be as well as what's traditional or the norm for your area.

Any Realtor in your area can prepare a net sheet, showing what you reasonably could expect to net based on a sale at a specific price.

Hope that helps.
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David Myers, Agent, Irving, TX
Sun Apr 14, 2013
The Title policy and Home Warranty are often seller's expenses as well.
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Dallas Texas, Agent, Dallas, TN
Sun Apr 14, 2013
1, Requested repairs
2. Closing costs

Contact my office today if I can further assist you with listing for your home

Lynn911 Dallas Realtor & Consultant
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http://www.lynn911.com 100's of Dallas homes listed for sale or lease

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