Selling a home requires a bit of an investment before your profits are realized. Most come in the form of closing costs.
When you buy or sell a home, there are closing costs involved. I’m here today to talk a little bit more about them, specifically where home sellers are concerned.
One of the largest costs involved for a seller is hiring a real estate agent, so we always try to prove our value. We know that commissions are earned by the marketing that we do to sell your home. As a homeowner, you’re going to pay a listing Realtor to market your property and bring you a buyer, and you’ll often pay a fee to the buyer’s agent out of the total commission. They’re negotiable in our area, and different agents charge different commissions.
Next, you’ll also have to take care of any attorney fees. In South Carolina, you’re required to close with a real estate attorney. These fees range anywhere from $350 to $600 per transaction.
You’ll also be paying taxes on the deed to the great state of South Carolina. Your Realtor can do the math for you to find out what the cost is for your specific property.
Another item that’s often paid for by the seller is the CL100, or wood infestation report. This is a specific inspection that will check the home for termites, high moisture levels, and other wood-destroying organisms. This will set you back anywhere from $75 to $130.
Finally, you’ll have to pay for property taxes for the time you’ve owned the home.
If you have any questions about what the costs would look like for you if you sold your home in this current market, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.