$2,000 to $7,000
That should cover most expenses, including commissions. Closing costs usually include the title policy, escrow fee (a few hundred dollars) and an attorney fee ($100-$200). A lot of sellers also pay for a Home Warranty for the buyers which is about $400. Sellers also usually pay for doc stamp tax on the deed, which is 7 cents on the thousand, for example, selling price of $100,000 x .007 = $700, Sellers also pay for the realtors commission which is usually 5-7% of the sales price. So, total sellers closing cost equal approx. Closing costs. With fees for everything from the appraisal to tax service, getting a mortgage is costly. Closing costs typically add up to thousands of dollars. The good news is that, each year, Bankrate conducts a survey of closing costs in all the states. A buyer’s closing costs might typically range from 2 to 7 percent of the sales price, or $2,000 to $7,000 on the purchase of a home. The average closing costs percentage is usually about 2-5% of the purchase price (e.g., ~$4500 on a $180,000 home), but 1-8% is not uncommon. And to be clear, nobody chooses a specific percentage number—the closing costs will just happen to add up to some percentage. Typically, home buyers will pay between about 2 and 5 percent of the purchase price of their home in closing costs. So, if your home cost $150,000, you might pay between $3,000 and $7,500 in closing costs. On average, buyers pay roughly $3,700 in closing costs, according to a recent survey. Lenders are required by law to give you a good faith estimate (GFE) of what the closing costs on your home will be within three days of when you apply for a loan. Yes, there is a rule of thumb, which is roughly 4% of the purchase/selling price.... There are too many variables to use a rule of thumb ~ I use a closing cost calculator to get a better idea. Many real estate title companies provide such a calculator on-line.
http://www.trulia.com/voices/Home_Selling/what_are_typical_closing_costs_for_sellers_is_the-588678 http://www.trulia.com/voices/Home_Selling/What_are_the_typical_closing_costs_for_the_buyer_-192447 http://www.bankrate.com/finance/mortgages/closing-costs/ http://www.thinkglink.com/2005/07/22/seller-closing-costs/ http://michaelbluejay.com/house/closingcosts.html http://www.zillow.com/mortgage-learning/closing-costs/ http://www.trulia.com/voices/Home_Selling/What_are_the_typical_closing_costs_for_the_buyer_-192447
what is average closing costs for a seller of a home