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 the both of them.
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.
A requirement of the seller's closing costs is title insurance. When you pay title insurance you're paying for the buyer's title insurance policy, which protects them from any liens, any competing claims of someone else saying they have an ownership interest, etc. If getting financing, the buyer is also required to purchase title insurance, but this policy is a policy that protects their lender from the same potential circumstances.
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.
Make the most money selling your home
Find top real estate agents, their team of service pros, and get a cash credit toward services that increase the value of your home.