Seller’s Closing Costs

There are a number of expenses associated with the sale of your house. These should be discussed with your Prudential Premier agent. The following is a list of the most common items seen on the HUD-1 settlement sheet:
Sales Commission (negotiable, 4-6 % of selling price)
Transfer Tax (typically one percent of the selling price)
Brokers Service Fee ($250 fee for providing necessary closing documents-negotiable)
Local Township Permit (typically $50-$100, varies by township)
Tax certifications (usually $65 for obtaining proof that all RE taxes have been paid)
Overnight Mail Fee (to ensure that payoff funds arrive in 24 hours)
Negotiable items such as buyers closing costs and home warranties.

Sellers should keep in mind that all mortgages, liens, judgments, lines of credit etc. will need to paid from their settlement and they may incur fees to satisfy and remove these items. Sellers should also anticipate that they may incur repair expenses as a result of home inspections, termite inspections, township inspections and appraisals.

Real estate taxes are pro-rated as of settlement day. Buyers reimburse sellers for taxes paid in advance.