Budgeting for the Sale

All of the fees associated with selling a home are charged at the time of sale. Sellers usually have no out-of-pocket expenses because money from the sales price is withheld from their profits to cover these costs.

Sales Costs
Mortgage Payoff	Remaining Balance
Realtor's Fees	Typically 6%
Attorney's Fees	~$700
Paperwork Fee	$195
Recording Fee Release	~$50
State Conveyance Tax	0.005 x Sales Price
Local Conveyance Tax	typically 0.0025 X Sales Price
Real Estate Taxes	Unpaid Amount

Although uncommon, there are scenarios in which a seller would have to pay in order to sell their home. Two examples are if the price of the home falls significantly while they owned it and cannot cover the remaining mortgage amount and expenses, or if the owner extracted all of their equity using home equity lines of credit.

Buyers

Working with a Buyer's Agent

The Buying Process

Budgeting for the Purchase

Sellers

Working with a Listing Agent

The Selling Process

Budgeting for the Sale