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Fees Involved With Selling a House

Posted Friday, October 5, 2012

Selling a home can be quite an extensive task. Aside from putting your home on the market, you have to find a buyer and close the deal. One major downside to selling a home is the fees involved with selling a house. If you want to sell your house it is important to know the fees that you will be responsible for paying. To learn about these fees continue reading.

One fee associated with selling a house is real estate agent costs. Most likely, you will choose to use an agent in order to make the job easier on you. A real estate agent is always a good idea due to the fact that they are professionals and can bring potential buyers to you and close the deal. Sales commission based on the selling price of your home will pay your agent. Most real estate agents receive about six percent of the final home sale price.

Transfer costs, another fee involved in selling a house includes the services of all licensed experts used. These costs include escrow services, appraisals, and title insurance. All of these costs are combined so it is best to negotiate fees. Transfer taxes can be collected when the sale is made or the seller can receive a tax bill following the sale. Unfortunately order to achieve your goal of "sell my house" you have to take care of transfer costs.

Other fees involved with selling a home are transfer taxes. The government and financial services sectors require attach costs when a large sum of money in exchanged. In the majority of cases, the seller is responsible for transfer taxes. Transfer taxes are determined by the total sale cost of the home.

Additional fees associated with selling a house are appraisal and loan origination fees. An appraisal fee is the cost for an appraisal report. Loan origination fees covers the lenders cost of processing the loan on the home. In most cases, the buyer will be responsible for loan origination fees.

Overall, if all that you have on your mind is “sell my house” be aware of the fees associated with doing so. As previously stated, these fees include real estate agent costs, transfer costs, transfer taxes, along with other potential costs. Once you are aware of the costs you will be responsible for all you have to worry about it getting your house sold. If you are unsure of the fees and taxes your as a seller a required to pay in your area, this information can be found online, with your financial service sector, or you can ask your real estate agent.