Tuesday, January 27, 2015

Fee’s Usually Paid by the Seller

Fee’s Usually Paid by the Seller

Real Estate Fee’s:  Sellers always pay the Real Estate Fee’s.  Remember when you bought your home the real estate fees were paid for by the seller of your home.  (New Home Sales Company or the owner of the property)  Depending on the area of the country where your home is located fee’s can vary. 

Homeowner Association Doc’s and Transfer Fee’s:  If you have a homeowners association in your development as a seller you will need to order a copy of your associations rules and guide lines.  (You can’t usually use the ones you received when you purchased the home as most are out dated and it must be the most recent revision)  These are doc’s that your title company will order but they will require a check up front before ordering them.  Fee’s vary from one association to another.

Pest Inspections:  Often times it is best as a seller to get a pest inspection done on your home prior to listing it.  Pest inspections have two area’s they report in the first is called Section 1 (areas that require immediate attention) usually items that fall in the section 1 area are things most buyers ask to be fixed and are often required by a loan company to be fixed before the home can be financed.  Section 2:  (items that if not correct have the potential to cause damage down the road) It can help in marketing your home to advertise that there is a current pest inspection and all section 1 items have been repaired.

Well and Septic Inspections:  If there is a well and septic tank on your property the seller usually provides a copy of a recent inspection at the time of sale.  Again this can be use in marketing your home if done prior to the sale.

Escrow Fee’s:  Escrow fees are negotiable depending if it is a buyer’s or seller’s market.  Most common way is they are split between buyer and seller.

Title Fee’s (Owners Policy) Most often split between buyer and seller.

County/City Transfer Fee’s:  Most often paid by the seller.

If you have already paid the property taxes it will be worked out in escrow between buyer and seller sides based on the date the sale closes. 

The easiest way to understand your costs is have us do a net sheet for you at the time of listing so you will have a good idea of what to expect.

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