What closing costs does a seller pay in San Antonio, Texas?
Just as a buyer has fees when buying a home, a seller has various fees as well, some negotiable, some not. As a refresher to anyone looking to sell their home, here are some of the fees involved.
I'm using the sales price of $200,000 with a 6% Broker commission for example purposes:
Other miscellaneous fees would be repairs the buyer would ask for as well as any of their closing costs. This would be presented to you with their offer.
If you have an escrow account you will get more monies. When the transaction closes, the title company will take your portion of the taxes (January 1st of the current year up until day of close) and give to the buyer since taxes are paid in arrears. When your loan is paid you would get the balance of what is currently in your escrow account for taxes back from your lender (approximately 2-4 weeks after closing).
When you sit down with your Realtor & agree on a sales price they will be able to provide a net sheet so you know your bottom dollar. You can use this figure & what your balance on the home is to gauge what you will walk away with.