1. Mortgage Payoff

Your remaining mortgage balance is settled at closing, deducted from your proceeds.

2. Buyer Concessions

Some buyers request closing cost assistance or specific repairs as part of the negotiation. While concessions vary, you may need to cover certain costs to finalize the sale.

3. Agent Commissions

With recent regulations, buyer's agent commissions are no longer advertised in listings, though sellers often still cover this fee, typically around 2.5% to 3%. Additionally, you will have the listing agent commission as well, typically around 2.5% to 3%. You should expect to pay between 5% to 6% of the sales price in total commissions.

4. Property Tax Proration

You'll need to pay your share of property taxes up to the closing date. This amount is usually prorated, so if the buyer will own the home part of the year, you cover only your portion.

5. Attorney Fees

Attorney fees for home closings vary depending on location and the complexity of the transaction, but they typically range from $500 to $1,500, covering services like title review, document preparation, and legal oversight of the transaction.

Other Possible Costs

• Transfer Taxes and Recording Fees: Vary by location and are usually part of closing costs.

• HOA Ownership Transfer Fees: Your homeowner’s association may require a transfer fee

The Bottom Line: Working with your Realtor to examine each offer’s net proceeds can help ensure you make the most of your sale.