First-time sellers take note. Sunday’s Seattle Times ran an article by Ilyce Glink outlining potential closing costs for sellers (also available here, at the author’s website). Not all of the items mentioned apply to Washington residents, however many of them do. A good rule of thumb to remember is that it can cost up to 9% of the purchase price to sell your home (when listing with a full service real estate brokerage): generally 6% for both the listing and buyer’s agents’ commissions, 1.78% excise tax, and other costs such as title insurance and escrow company fees. Remember, though: that 9% does not include any mortgage pay offs, home equity lines of credit, or credits paid to the buyer.
Technorati Tags: RulesOfThumb, SellingYourHome
