February 26, 2014

Video-How To Estimate Closing Costs To Sell Your Home – Heeran Workman REMAX Platinum Realty

By Heeran Workman, MBA

Sellers all over the Omaha Metro Area are getting ready to sell their homes as the weather warms up.  My name is Heeran Workman and I’m a Realtor with REMAX Platinum Realty in Omaha, NE.  Whenever I stop by a seller’s home for a private home selling consultation, seller’s have a rough idea of the closing cost items- but not quite sure.  They all easily calculate the Realtor’s cost, but they are not sure of the other closing costs.  Heeran’s Home Team specializes in listing and selling homes in Douglas and Sarpy county.   This video will cover the typical closing costs to sell a home. 

The closing costs to sell is not nearly as bad as when buyers complete a purchase of a home.  Buyers have to bring money to closing for closing costs, escrows (upfront property tax and insurance premiums), and down payment.  For the purposes of this educational blog, we will focus on the closing costs only.

Sellers estimated closing costs to sell:
·       Lien release for mortgage payoff - $20
·       Title insurance (1/2 the total amount) – Roughly $500 for a $100,000 home – then add another $140 per every $50,000 increase in sales price.
·       State documentary tax for ownership transfer - $2.25 per every $1000
·       Escrow closing fee to the title company - $300

That’s it!  Sellers have a sigh of relief when I go over the figures with them.  Keep in mind that when you sell a home, a buyer will also frequently want a home warranty insurance and their loan programs will allow them to ask the sellers to help pay for a portion of the buyer’s closing and escrow costs.  These are negotiable items.

If you’re thinking about selling your home and want us to complete a comparative market analysis of your home as well as the seller’s estimated cost sheet, please call (402) 707-7878.

If you or someone you know is looking to buy or sell a home in the next 3-6 months, please call our office to schedule a private home buying or selling consultation.  We would love to be your Omaha Metra Area’s real estate source for information.  Take care until next time!

Heeran Workman, MBA
(402) 707-7878

By: Heeran Workman, MBA, Realtor - REMAX PLATINUM Omaha 

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