Average Cost To Selling Your Home in Greene County VA
How to determine what you'll actually walk away with.
What's the average cost to selling your home in Greene county VA? If your like most sellers you want to know w
hat you're actually going to net and walk away with. Taxes, fees commissions and various closing cost can add up to anywhere between 4% and 7% of the sales price.
hat you're actually going to net and walk away with. Taxes, fees commissions and various closing cost can add up to anywhere between 4% and 7% of the sales price.
The best way to determine what your profit will likely be is to request from your real estate agent a Seller's Estimated Net Sheet. Line by line this will list every fee you can expect to pay when you close on the sale of your home.
The average to cost to selling your home will vary from place to place. Tax rates and any other government fees will also vary.
- Payoff of your current mortgage. This will be deducted from the sale price at the closing. Any other liens you may have will also be deducted.
- Release of liens. If you have work performed on your property and still owe money to a contractor or for court judgments or property taxes, a lien may have been placed on your property. These must be paid and release before you can actually close on your sale. An average is about $75 per release.
- Prepayment penalty. Depending on your loan and lender you may have a pre-payment penalty. So there could be a fee involved for paying off your mortgage early. You'll want to contact your lender for this information.
- Recording fees. Recording fees are paid to the county to actually record the release from the liens that are being paid off. Recording the release should be about $20
- Commissions for listing and selling agents. Commissions will also vary. The average cost for this is 6% of the sales price. 3% is paid to your agent who is the listing agent and the other 3% is paid to the buyers agent.
- Settlement/Doc Prep Fees. This cost will vary depending on who you choose to handle the settlement. Your agent can contact your settlement company of choice to get an estimated fee for them. On average this will be about $500
- Taxes/Assessments. These will be pro-rated by the settlement company. So if you've already paid for a period of time after the sale of your home then you will receive a credit for those. If you still owe for a period they will be owed by you up until the day of your settlement. If you have a mortgage on the property the taxes are likely paid by your mortgage company. Typically they will have 2 to 3 months set aside that could be refunded to you. Grantors tax in Greene county will be $1 per $1,000 based on the sales price.
- Seller concession. A seller concession is when you pay a portion of the buyers closing cost. This would be your choice and negotiated at the time an offer is presented to you by your agent. Generally this could be 1 to 3 percent of the sale price.
- Termite inspection.. As the seller you will provide a certification to the buyer, their agent and sometimes the lender that your home is free of wood destroying insects. Your agent can set this all up. Expect this to cost about $50
- Well and Septic Inspection. Again, as the seller you will provide documentation to the buyer that the water is safe for drinking. Your agent will arrange for a water sample to be taken and tested. Most times a visual inspection will be done of the septic. A buyer can however request that the tank be dug, pumped and inspected further. If that is the case it will negotiated during the time you receive an offer. Expect to pay about $100 for the water test and visual septic inspection.
To avoid any last minute surprises be sure to get the average cost to selling your home from your real estate agent and request an estimated seller net sheet. The average cost to selling your home can vary greatly depending on your loan, who you choose for settlement, taxes and county fees.
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