We cover all fees when you sell a house to us, but it is still important to know what they are in case you decide to sell on-market.
The fees may include:
- A real estate agent commission: This is typically a percentage of the sale price, and is usually split between the listing agent and the buyer’s agent. The rate can vary but is typically around 5-6% of the sale price.
- Closing costs: These are the costs associated with completing the transaction. They can include:
- Title insurance: protects the lender and the buyer against any losses resulting from title disputes.
- Escrow or closing fee: paid to the escrow company or closing attorney for handling the documents and transfer of money during the closing process.
- Recording fee: paid to the local government for recording the transfer of ownership in the public records.
- Notary fee: paid for having documents notarized.
- Transfer taxes: some states and municipalities charge taxes on real estate transactions.
- Legal fees (as needed): paying a lawyer to review and prepare the necessary documents.