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Answers (8)
- Kenneth Fisher, "BTBagent"
- Contributions:61
Intersting the difference in answers to the question. I supppose the question is: what do you consider "out of pocket costs"? If you are netting cash from the sale, technically none of the costs are "out of pocket", since you don't have to bring cash to the closing table. The best way to get a clear understanding of how much it will cost you to sell your house is to ask your agent or a closing attorney to explain to you the line items on a HUD settlement statement, which explains where all moneys in a settlement come from, and where those moneies go.
-if you have a balance on your mortgage, that payoff amount will come of the top (of course)
-The amount you will pay in commissions depends upon the amount you and your agent agree upon. (x% of sales price)
-taxes and association fees will be prorated for the portion of current time period you own the property.
-If you agree to pay any of the buyers settlement costs, that would be considered.
-You'll have revenue stamps, in NC its $2 per $1000 of the sales price (if its $100,000, you'll pay $200).
-You'll pay an attorney to prepare a deed for you (less than $200)
--there are usually courrier fees ($25-50)
-If you provide a home warranty for the buyer, that can be paid at settlement (maybe $500)
-you could also be credited back from your hazard insurance company (after closing) for the portion of the time period that you may have paid for, but will no longer own the property.
Per the previous definition of "out of pocket costs" - you'll want to consider any repairs or improvements you agree to take care of in order to help sell the home, or for the buyer prior to closing.
-if you have a balance on your mortgage, that payoff amount will come of the top (of course)
-The amount you will pay in commissions depends upon the amount you and your agent agree upon. (x% of sales price)
-taxes and association fees will be prorated for the portion of current time period you own the property.
-If you agree to pay any of the buyers settlement costs, that would be considered.
-You'll have revenue stamps, in NC its $2 per $1000 of the sales price (if its $100,000, you'll pay $200).
-You'll pay an attorney to prepare a deed for you (less than $200)
--there are usually courrier fees ($25-50)
-If you provide a home warranty for the buyer, that can be paid at settlement (maybe $500)
-you could also be credited back from your hazard insurance company (after closing) for the portion of the time period that you may have paid for, but will no longer own the property.
Per the previous definition of "out of pocket costs" - you'll want to consider any repairs or improvements you agree to take care of in order to help sell the home, or for the buyer prior to closing.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
I hope that all helped. I think what you might do now is look for a local agent to help you out. They can actually sit down and do a 'net sheet' for you for the amount you plan to sell for, it will be a lot more accurate. If you need a realtor, anyone of us can give you a referral or you can pull down the Professionals tab up top here and search for one in High Point...love going there for furniture shopping! Best of luck to you for your sale.
- Brian Teyssier, "Brian Teyssier GRI"
- Contributions:964
Depending on the commission you are paying, you can expect around 10%.
- John Kenney, "John Kenney"
- Contributions:25
Deduct from the sale price (and any concessions offered to buyer from seller) reflected on the purchase and sales:
1. Professional Fees
2. Stamp Duty
1. Professional Fees
2. Stamp Duty
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
What you could pay for in North Carolina are :
Ttaxes from the beginning of the year to the day you sell.
Commission(whatever has been negotiated,there is never any set commissions),
Attorney (your cost will be around 150-175..)
Deed payoff, courier fee ( 25-35 dollars),and tax stamps.
Extras could be a home warranty plan and any negotiated home inspection items.
Hope that helps
Ttaxes from the beginning of the year to the day you sell.
Commission(whatever has been negotiated,there is never any set commissions),
Attorney (your cost will be around 150-175..)
Deed payoff, courier fee ( 25-35 dollars),and tax stamps.
Extras could be a home warranty plan and any negotiated home inspection items.
Hope that helps
- CulverCityRealtor
- Contributions:455
Dear Honda Gwynn,
Commissions are something for you to negotiate with your Realtor. The other expenses depend upon the purchase price and other details your Realtor will be able to help you with that as well.
Commissions are something for you to negotiate with your Realtor. The other expenses depend upon the purchase price and other details your Realtor will be able to help you with that as well.
- Susan Blanford, "Susan Blanford"
- Contributions:55
Your Realtor is the first person you should ask. You may also get the answer from a title company. The costs vary from state to state, and are also based on the sale price of the home as well as the terms negotiated in the offer. Good luck.
How much will I have to pay out of pocket to sell my house?
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