Listed below are 5 things the Seller should expect to pay at the closing table.

01. Listing Agent commission: You probably already knew this, but you’re going to have to thank (aka PAY) your Selling Agent for their hard work. Most seller’s agents also receive 2.5%-3% in commission.⁠
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02. Buyer’s Agent commission: Many forget that they not only have to pay their own agent, but also the BUYER’S agent, too! In most areas, the buyer’s agent receives 2.5%–3% in commission. ⁠
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03. Property taxes: Often, this is prorated to the amount of time you’ve owned the property that year (unless they have already been paid, then the buyer’s pays the prorated portion.)⁠
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Reminder: These fees are *typical* but may not apply to your transaction. Your listing agent will be able to break down all costs associated with your sale.

04. Repairs or closing costs: This is where a lot of the negotiation around closing costs happens. IF you don’t want to do repairs, you’ll often need to pay the Buyer’s closing costs in lieu of repairs if negotiated in the contract.⁠
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05. *BONUS* Other taxes may be due: You’ll need to talk with your CPA and closing attorney to find out what local taxes might also apply to your sale.⁠
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These costs are paid at closing and come out of your proceeds— so if you want to cash out maximum equity, make sure you keep these costs in mind to make sure you’re getting a proper return on your investment.⁠ Ready to list? Click here for a FREE Listing Guide or a FREE Property Valuation by a S&C agent!

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