Real Estate Agent Commission
The seller pays the commission to their listing agent and the buyer's agent. The total amount is usually split evenly between both agents.
The escrow company is the neutral third party in a real estate transaction. They handle the exchange of money and any necessary documents related to the transaction. The costs charged to the seller are the fees for the services provided by the escrow company.
These fees can include a recording fee, a notary fee, inspection fees, homeowners association fees (if you have a HOA), and any other fees that you might be required to pay.
Title insurance is not required, but it's included in almost all real estate transactions. This policy, known as an "Owner's Policy", is usually paid for by the seller and protects the buyer from any liens and any competing claims of someone else saying they have an ownership interest after the sale closes (this also protects the seller). If the buyer is getting financing, then their lender will require them to purchase a different policy. This is known as a "Lender's Policy", which protects the lender from the same circumstances as the Owner's policy.
Real Estate Transfer Tax
Depending on the city and county you're located in, you may have a property transfer tax that you need to pay. Most counties have a transfer tax, which is paid by the seller, but not all cities have a real estate city transfer tax.
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