Suppose the price of the seller of a house is $205,000. How much is the total closing cost of the seller? ?

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Buyers have closing costs.What about the seller? This is based on a home sale by owner, no real estate agent involved.

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  1. Reply
    Gen X Agent
    July 22, 2011 at 12:31 am

    Typically your cost to sell will be about 1%, this could vary as many buyers ask sellers to contribute to their closing costs. Also contact your lender to verify there is no prepayment penalty on your existing mortgage (if you have one). There may be additional costs, like repair costs, stemming from the results of the buyers home inspection.

    Depending on your state there could be other costs. Some states have real estate transfer taxes and if you live in an area with higher property taxes that 1% could be more depending on how your property taxes are paid.

    Remember, real estate is local! So my 1% estimate is based on AZ, not on a national average.

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