FAQ

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Real Estate Agent Commission: Typically, sellers pay a commission to their real estate agent, usually a percentage of the final sale price.
Home Repairs and Improvements: Addressing any necessary repairs or making improvements to enhance the property's appeal may incur costs.
Closing Costs: Sellers often contribute to the buyer's closing costs, which can include fees for legal services, title insurance, and other transaction-related expenses.
Property Taxes: Sellers are responsible for property taxes up until the closing date. Ensure these are settled or adjusted at the time of closing.
Pre-sale Inspection: Conducting a pre-sale home inspection to identify and address potential issues may incur an upfront cost.
Marketing Expenses: This is usually included in the service of your realtor.
Mortgage Payoff: If you have an outstanding mortgage, you'll need to pay off the remaining balance from the proceeds of the sale.
Legal Fees: Hiring a real estate lawyer to handle the legal aspects of the sale involves fees for their services.
Utilities and Maintenance: Keeping utilities running and maintaining the property until the sale is finalized are ongoing expenses.

It's essential to be aware of these potential costs and work with your real estate agent and legal professionals to understand the specifics of your situation.

What Are The Costs To Sell My Home?

What Are The Costs To Purchase A Home?

Down Payment: The initial upfront payment made by the buyer, usually 5% percentage of the property's purchase price.
Mortgage Loan Fees: Charges associated with obtaining a mortgage, including application fees, appraisal fees, and loan origination fees.
Home Inspection: The cost of hiring a professional inspector to assess the condition of the property before purchase and removing subjects/conditions.
Property Appraisal: The fee for a professional appraisal to determine the fair market value of the property.
Closing Costs: Various fees associated with finalizing the real estate transaction, including legal fees, title insurance, and property transfer tax.
Property Taxes: Depending on the timing of the purchase, the buyer may need to reimburse the seller for prepaid property taxes.
Homeowners Insurance: Insurance coverage to protect the property and its contents from damage or loss.
Moving Costs: Expenses related to hiring a moving company or transporting belongings to the new property
Renovations and Repairs: If the property requires renovations or repairs, the buyer may incur additional expenses post-purchase.

It's important for buyers to budget for these expenses and work closely with their real estate agent and mortgage lender to understand the financial aspects of the home-buying process.