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In addition to the Real Estate Brokerage fees which we plan to avoid, smaller fees that must be paid by the Seller on closing day are grouped below.
  • Buyers mortgage costs: In most states, the Seller traditionally pays fees associated with the Buyer getting a real estate mortgage loan. These fees are typically 1% to 1.5% of the loan amount. ($900 to $1,350 on a $90,000 mortgage)
  • Other Closing fees: These include attorney fees, title search, and recording fees (see second page of settlement statement). A good estimate is 1% to 1.5% of the sales price. ($1,000 to $1,500 on a $100,000 home)
  • Real Estate Brokerage fees:
    • Brokerage fees or commissions can easily be the Seller's biggest cost.

    • If the Seller lists the home with a real estate agent, he can expect to pay between 6% and 7% of the purchase price ($6,000 to $7,000 on a $100,000 home).

    • If Seller sells home on his own, but accepts a Buyer brought by a real estate agent, the Seller will usually have to pay half of the above amount or 3% to 3.5% of the purchase price ($3,000 to $3,500 on a $100,000 home).

    • The best situation is where the Seller advertises his own home, gets his own Buyer and pays nothing to real estate agents.

  • The Seller can limit his costs by stipulating in the Sales Contract a maximum amount he will pay towards the Buyer's mortgage costs and Other Closing fees. 
  • Real Estate Brokerage fees are subject to a separate agreement with the real estate agent and are not usually limited in the Sales Contract.
  • See "Net Cash from Sale" for a calculation of how much cash you can expect after the mortgage balance and fees are subtracted from the selling price.

 

 For sale by owner book
Complete For Sale By Owner Kit $58.95

Includes contract package plus photo tour packages below. Also property flyers in two styles, a for sale by owner yard sign with stand and a directional sign. Internet listing will remain active until home is sold.
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Contract Package $14.20

Real estate forms & contracts to legally sell or buy a home. Designed to meet individual state requirements, our contracts have been used to sell homes in every state. Download them in Microsoft Word format for Windows & Mac. Most also available in PDF.
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Photo Tour Package $26.95

Internet web page ad with up to ten pictures of home plus property description and choice of 28 eye-catching headlines. Also includes choice of two flyers for local distribution.
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Don't have time? Can't devote 4 hours per week to selling your home?

Consider hiring a good real estate agent and paying 6%-7% or about $9,000 to sell a $150,000 property.