Answers by Matthew Campbell

The truth about closing costs for a seller is it can vary greatly based on price point, what services you employ, and most importantly negotiations. A lot of your closing costs are negotiated in the purchase contract, depending on your state. Here is a breakdown that should help. Listing agent compensation: typically 1-3% of the sale price of the home, if you choose to hire a professional to market the property assist in preparing it for sale, put it on the MLS, maximize exposure to potential buyers, facilitate showings, negotiate terms of the purchase contract, and protect your equity. Some sellers will elect to try FSBO (for sale by owner) first, however this is not often recommended. 98% of FSBO sellers are not successful and end up hiring an agent, and those that do sell, sell for 10-20% less than a property professionally marketed and represented. When interviewing brokers, I recommend prioritizing experience in the market, and a comprehensive marketing strategy to get you top dollar. It may be tempting to hire a discount broker, but can often result in leaving tens of thousands of dollars on the table if they don't know what they're doing. Buyer agent compensation: Majority of sellers will offer to cover commission for the buyer's agent 1-3% of the sale price. This is not required, and what you offer is not guaranteed to be in the purchase contract, and will be negotiated. Some sellers choose to offer no buyer/broker compensation. Many buyers will prioritize properties that are covering or contributing to their highest closing cost. This will depend on market. Title Policy: This is customarily paid for by the seller, but in hot markets and multiple offer situations, sometimes a buyer will offer to cover this closing cost. This amount will vary by state and is a function of the sale price of the home. Most title companies will have a free calculator on their website. Resale Certificate/HOA fees: If you are in an HOA, these closing costs will typically be in the $150-$500 range, but some HOA's can be pretty brutal. Best to get an estimate ahead of time. Prorated taxes: Property taxes for the year will be calculated based on the estimate from the county and you will pay taxes per diem for the year up until closing date. Attorney/Notary fees: Typically $150-$250 Survey: If the survey you have for the property is not acceptable to the title company and a new one needs to be ordered, it is negotiable in the contract whether buyer or seller pays. Depending on the property, often $400-$700. Home warranty: If the buyer negotiates for seller to pay for home warranty - often $400-$700 Wire fees/docprep/courier fees: Little ticcy-taccy stuff from title, usually totalling $150-$200 Hope this helps, if you let me know what market you are in, I can be a bit more specific