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I am selling my house by owner. What items should I expect to pay for when it comes to closing cost

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September 04 2013 - US
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I (also) recommend visiting with a title company or experienced Realtor in your area who can give you specific information about seller closing costs in your area. There are so many variables, so you will want to sort them out by "required" and "optional or negotiable". For example, taxes, transfer fees, title company closing costs, recording fees, and mortgage payoff are all required. There can be many negotiated fees that could come out of your seller proceeds. For example, sellers contribution to the buyers closing costs, home warranty, cost of repairs. Areas of the country differ dramatically. For example, in some areas you have to bring your abstract up to date which is a seller expense of several hundred dollars. Not all states require this. It is customary in some areas to use the services of an attorney. Good luck.
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September 09 2013
Sellers will be responsible for costs of transfer sales tax which varies from state to state the amount an based on the sales price. 
Owners title policy will be based on the sales price of the home an the chosen title company. Escrow fees will need to be paid based on the sales price an chosen escrow company. Appraisal needs to be paid for by someone. Sellers paying for a home warranty is a good protection from lawsuits an problems in the future. One of the benefits of having a good agent is explaining these costs upfront. Showing you which items can be negotiated in your offer an terms. Using a agent usually nets 20% more in the sales price. Also protects against future problems or lawsuits resulting from improper disclosures or documents missing.  Using an agent can save you money an time on seller costs. Which can pay for their services by the higher net return to the seller. 
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September 09 2013
If the buyer is being represented by a good real estate person then you will get out negotiated. You won't even know what you are overpaying for. I personally did this to  a buyer who didn't have representation. Remember, the brokers legal duty is tho get the best deal for 'their' client. 
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September 04 2013
I would recommend contacting a title company in your area and asking for a preliminary settlement statement also known as a HUD 1. If you give them the price you hope to sell for, property tax amount, your loan payoff amount. They will be able to email you this. Just understand it is a close estimate. As Stephanie says each market has different ways
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September 04 2013
It depends on what is customary and usual in your market.   Many buyers will ask for a contribution to closing costs but that amount can vary.   Your taxes and any HOA fee will be prorated at time of closing.  You might be well served to reach out to a local REALTOR to ask what you might expect.  I am sure someone will be happy to discuss it with you. Good luck.
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September 04 2013
This number is going to vary based off of many factors. When were the taxes last paid? What area of the country are you selling in? In Illinois it is common for the seller to pay for owner's title insurance. Does the buyer have a Real Estate Agent? If so, you're looking at another 3%. Bottom line, there's no exact number as it will be different depending on many factors.
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September 04 2013
Expect 2-3% of the sales price - buyers will probably ask for a home warranty also which is based upon the age and size of the home.
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September 04 2013
 
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