Question:
“We’re trying to figure out the costs when we sell our home. What are they?”
Answer:
As a rule of thumb, figure 8% of the selling price for all selling costs, including a cushion of 1% to 1.5% for repairs and NOT including last mortgage payment and property tax prorations.
Specifically, in San Diego, the seller usually pays:
- Termite inspection & Section 1 repairs
- Legally required retrofits: toilets*, smoke detectors, carbon monoxide detectors, water-heater straps
- Half the escrow fee
- Owner’s policy of title insurance
- Real estate fee
- Notary & recording fees for grant deed
- County transfer tax
- Homeowner association document and transfer fees
- Pro-rated HOA dues
- Any loan fees required by seller to pay (VA)
- Home warranty
- Property tax proration
- Balance of mortgages against the home
- Any loan prepayment penalty
- Pro-rated property taxes
*City of San Diego only.
