Closing costs are costs that are incurred when you transfer the title of a house. Both the seller and buyer have their own set of closing costs. For the seller these fees can include title recording and title insurance . For the buyer these fees can include an appraisal, credit report, title recording, title insurance, loan discount points, and prepaid items such as property taxes, homeowner’s insurance and HOA dues.
Typical closing costs can vary between 3% to 5% depending on where you live and your lender.
Here are some of the main methods by which buyers find your house for sale
- Internet (zillow, realtor.com, homefinder, craigslit, backpage, trulia, oodle, yahoo homes)
- MLS and syndication through the MLS (includes all sites listed above and many more)
- Yard post and sign
- Friends and Family
- Traditional Advertising
Your property value is affected by many factors including condition of the house, location, market conditions, square footage, features, and upgrades. Pricing your home too low can leave money on the table that should be in your pocket; pricing your home too high can turn off buyers who see that it is out of their price range. Houses that sit on the market for a long time usually become “shopworn”, causing many buyers to believe something is wrong with the property. We can do a Comparative Market Analysis for you to give you an estimate of the market value of your home.
Title insurance is an insurance that is paid for by a homeowner during the selling process that is deducted from any proceeds of selling the house. Title insurance is managed by the title company who is managing the selling transaction and warranties that the title to the property is free from any liens or blemishes that would cause a problem with a transfer of title. Many title companies and mortgage companies will not participate in selling a property with title insurance.