Let’s shed some light on the closing costs you may encounter as a seller.
Agent Commissions — The hard work of your trusted agents, both the buyer’s agent and the listing agent, deserves recognition. Agent commissions are a small percentage of the final sale price of your home. Rest assured, Brenner | Hill provides exceptional service and goes above and beyond by providing professional photography, contribution toward full-home staging, social media and Internet advertising and a custom home website — all at no additional cost to you. We work hard to secure the best deal for you and maximize your sales proceeds while providing full concierge level service.
Title Insurance — Guarantee the transfer of a clean and clear title to the buyer with title insurance. This safeguards against any unexpected claims or disputes related to the property’s ownership history.
Excise Tax — The State of Washington levies a real estate excise tax upon the sale of a home or land. The tax is calculated based on the sale price. The tax is due at the time of sale and is collected by the county when the documents of sale are presented to the county for recording.
Property Taxes — If your property taxes for the current year have not yet been fully paid, you’ll need to account for them as part of the closing costs. The escrow company will prorate the property tax balance due to the date of closing. If you have prepaid property taxes, escrow will prorate the amount that will be due to you from the buyer at closing.
Escrow Fees — Escrow is our neutral third party. They collect and distribute all funds within the transaction. Escrow fees are usually shared equally between the buyer and seller.
Additional Responsibilities — The terms of the agreement will outline any extra costs you might be responsible for, such as Homeowners Association (HOA) fees, if applicable, or potentially contributing to your Buyer’s closing costs (In a buyer’s market, providing seller concessions can make your property even more appealing. Seller concessions involve you, as the seller, agreeing to cover some of the buyer’s closing costs.).
