We know that the moment of closing is one of great emotion for the buyer and the seller. This is why we want to explain something very important to you so that happiness continues throughout the closing of the sale.
When you buy a home, you should be aware of closing costs that include: lender fees, an appraisal, a home inspection, and transfer taxes that add up to 3% to 4% of the sale price of the home. same.
If you are considering selling your house, then you will have to pay seller’s closing costs which can be between 5% and 10% of the sale price. This includes real estate commissions, prorated property taxes, and any contribution to the buyer’s closing costs that were negotiated in your contract.
What is the closing cost?
The closing cost varies, it depends on whether you are the buyer or seller of the property. At the time of closing, both the seller and the buyer will be responsible for a variety of closing costs and fees.
As a seller, your closing cost fees will primarily relate to real estate commissions and the transfer of the deed to your home, while a buyer will primarily cover closing costs associated with your mortgage.
How much does a property closing cost in Texas?
Although all taxes, fees, lender fees, and insurance are added together, typically neither party pays 100% of all closing costs. Instead, the seller will typically pay 5% to 10% of the sale price and the buyer will pay 3% to 4% in closing costs. As a seller, in many cases, you will cover the commission expenses of the real estate agent or agents; these can be up to 6% of the sale.
If you need help with your closing process, schedule an appointment with us.