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Closing Cost
#8045767
11/10/20 11:37 PM
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Joined: Feb 2010
Posts: 5,734
erathar
OP
THF Trophy Hunter
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OP
THF Trophy Hunter
Joined: Feb 2010
Posts: 5,734 |
I still live in the only house I've ever purchased. What is a realistic % of sales price to pay in closing if I sold it?
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Re: Closing Cost
[Re: erathar]
#8045768
11/10/20 11:39 PM
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Joined: Jan 2010
Posts: 22,997
fadetoblack64
giddyup
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giddyup
Joined: Jan 2010
Posts: 22,997 |
If your in TX its 8% total. with a realtor
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Re: Closing Cost
[Re: erathar]
#8045779
11/10/20 11:51 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
THF Celebrity
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Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: Closing Cost
[Re: bill oxner]
#8045788
11/10/20 11:57 PM
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Joined: Jan 2010
Posts: 22,997
fadetoblack64
giddyup
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giddyup
Joined: Jan 2010
Posts: 22,997 |
6 plus 2 in closing.......8
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Re: Closing Cost
[Re: erathar]
#8045789
11/10/20 11:58 PM
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Joined: Dec 2008
Posts: 22,630
Cast
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THF Celebrity
Joined: Dec 2008
Posts: 22,630 |
I’ll do FSBO. I don’t want or need a realtor.
Cast I have a short attention spa
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Re: Closing Cost
[Re: erathar]
#8045983
11/11/20 01:49 AM
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Joined: Jul 2005
Posts: 3,379
Stump_jumper
Veteran Tracker
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Veteran Tracker
Joined: Jul 2005
Posts: 3,379 |
6% realtor fee is not written in stone. It is negotiable.
2017 Tundra 5.7 CM 4x4 2006 Champion 2200 Bay Boat
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Re: Closing Cost
[Re: erathar]
#8046416
11/11/20 02:26 PM
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Joined: Dec 2004
Posts: 2,591
bassfishinglawyer
Veteran Tracker
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Posts: 2,591 |
In addition to realtor's fee (typically 6% but negotiable), Seller typically pays (and most of these are negotiable as well):
- base title insurance (plenty of title insurance calculators on the net) - tax certificate - recording fees for release of mortgage (if applicable) - escrow fee to title company (could be $250 to $1000 depending on where you are and who you use) - credit for taxes (which are paid by buyer at end of year) and maybe for other things like HOA dues (if applicable) - home warranty - HOA certificate (if applicable) - any title curative matters (hopefully none)
But I usually think of the norm being around 10% total on a typical deal.
Good luck if you do it!
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Re: Closing Cost
[Re: erathar]
#8046429
11/11/20 02:34 PM
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Joined: Dec 2010
Posts: 8,848
DocHorton
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Posts: 8,848 |
I still live in the only house I've ever purchased. What is a realistic % of sales price to pay in closing if I sold it? Seller shouldn't have much closing costs. Escrow fees, doc fees, title co fees....maybe $750-1000. Title policy depends on price of house, for instance $750k house is $4600, $500k house is $3200, $300k house is $2000. Realtor fee is negotiable, 4-6%. If you're paying 8% you are paying too much.
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Re: Closing Cost
[Re: erathar]
#8250084
04/27/21 07:34 PM
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Joined: Feb 2010
Posts: 5,734
erathar
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THF Trophy Hunter
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OP
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Posts: 5,734 |
Bump in regards to the other post. Looking fairly serious about selling soon.
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Re: Closing Cost
[Re: erathar]
#8250106
04/27/21 08:05 PM
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Joined: Oct 2007
Posts: 319
slymer
Bird Dog
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Bird Dog
Joined: Oct 2007
Posts: 319 |
If your home is very desirable and you get multiple offers you shouldn't be out much more than your realtor fees. Here in DFW with multiple offer houses the buyer pays for almost everything so that they can be competitive.
I'd figure 6% for your realtor fees and a few thousand more different things. Home warranties are typically $500-600 depending on the size of the house but you don't have to provide one.
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Re: Closing Cost
[Re: erathar]
#8250127
04/27/21 08:31 PM
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Joined: Sep 2004
Posts: 13,680
RedRanger
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THF Celebrity
Joined: Sep 2004
Posts: 13,680 |
I refer to Oxner on all closing cost discussions
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Re: Closing Cost
[Re: erathar]
#8250134
04/27/21 08:33 PM
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Joined: Jun 2015
Posts: 6,761
Jgraider
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Posts: 6,761 |
The last 3 homes I sold FSBO, and I paid between $1500-$2500 in closing costs. I had no realtor fees. Homes ranged from $170k-$525k.
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Re: Closing Cost
[Re: Jgraider]
#8250143
04/27/21 08:47 PM
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Joined: Dec 2004
Posts: 2,591
bassfishinglawyer
Veteran Tracker
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Posts: 2,591 |
The last 3 homes I sold FSBO, and I paid between $1500-$2500 in closing costs. I had no realtor fees. Homes ranged from $170k-$525k. That's really good - Seller usually pays title policy which, at $525,000.00, would be over $3,000.00, plus seller usually pays tax certificate, release fees, 1/2 of escrow fee (might have a good friend as a closer?). Even though you had minimal listing fees, sounds like you made out like a bandit.
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