Analysis of Common Home Seller Closing Costs
By HomeBay
Wondering what it’s going to cost to sell your home? This post will give you a look at some real numbers that will help you determine what your closing costs are likely to be. Read on to learn more!
High-Level Overview:
HomeBay recently reviewed four non-HomeBay transactions in San Diego County and found the sellers paid:
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$32,386 in costs on a $500,000 sale
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$62,754 in costs on a $1.0 million sale
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$94,079 in costs on a $1.5 million sale
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$124,337 in costs on a $2.0 million sale
The above numbers do not include general repairs, termite remediation, and repair, HOA transfer fees, or moving costs.
Important Notes:
- Closing costs for seller vary by location. Unless you live in San Diego County, use the information above and the table below as a rough guide.
- In addition to the costs described below, the seller also pays prorations related to property taxes and mortgage owed.
San Diego County Seller Closing Costs Analysis:
As shown in the detailed table below, the vast majority of closing costs for a seller by a wide margin are real estate commissions. By working with HomeBay, you can avoid paying this commission and save yourself a lot of money at closing.
|
Item |
Cost |
|
Varies based on sale price of home from a low of approximately $1,000 to a high of approximately $3,500 for houses selling between $200,000 and $3,000,000 |
|
|
Varies based on sale price of home, from a low of approximately $1,000 to a high of approximately $4,000 for houses selling between $200,000 and $3,000,000 |
|
|
Most cities have none |
|
|
$1.10 per each thousand dollars of sale price |
|
|
Typically less than $500, check with your HOA |
|
|
Usually free |
|
|
Varies widely, but typically between $1,000 and $7,000 based on the level of damage and infestation |
|
|
$300 to $1,000, depending on the size of the home and whether there is a crawl space |
|
|
Listing agent fee* |
2.5 to 3% of sale price |
|
Buyer agent fee |
2.5 to 3% of sale price |
|
Usually $300 to $1,000 |
|
|
Approximately $120 |
|
|
Miscellaneous repairs |
Varies widely depending on the level of repairs, if any, to which seller agrees |
|
Messenger fees |
Usually approximately $100 |
|
Moving fees |
Varies widely |
Hopefully, this analysis helped you determine how much it will cost to sell your property!
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