Costs of Selling a Home

Do you want the easy answer or the complete answer?

The most common question we get is “How much does it cost to sell my home?” It would be easy for us to quote our marketing fee and leave out the other costs involved, but it would not be realistic. When you are selling a home, there are multiple costs that need to be addressed. Marketing fee (commission) may be part of it, but there are also costs to transfer title, inspections, closing fees, buyer assistance, taxes and other items to be addressed.

During your appointment with David, he will present you with a Comparative Market Analysis which includes an Estimated Net Proceeds. The most common seller expenses will be outlined for you on this sheet. It is a broad view of what costs you may incur. When you receive an offer on your home, another Estimated Net Proceeds sheet is worked up per the terms of the specific offer. We want to be sure you have the right information when you make a decision to sell your home.

What about taxes?

One of the common concerns is the cost of taxes to close on a home. Indiana is a state that pays taxes in arrears…meaning we pay this year for the taxes from last year. Normally there are 11-17 months of taxes due at the time of closing on a home.

Many home mortgage companies are building your escrow accounts to pay for property taxes and home owners insurance. These accounts are closed approximately 4 weeks after closing and returned to you. This helps to offset the amount of the taxes paid at closing.

Have a specific question? Please feel free to contact us – we are always glad to help.