You finally found a buyer for your house. After weeks or maybe even months of trying to sell, you’ve finally reached the time to close and finalize the transaction. Now you have a good picture of how much money you’ll get from the sale.
But not so fast! Closing costs are going to take a chunk out of your proceeds. Curious about how much that will be? Here’s some guidance on who pays closing costs, what some of them are, and how HomeVestors® could protect your profit.
Closing costs are made up of all the fees and commissions you have to pay during the process of closing on the sale of your house. They could include real estate commissions, tax and insurance payments, title fees, and more. They are expected to be paid on the day of closing on your house, when the property’s ownership is transferred to the buyer. They’re typically taken from the initial profit for the sale of your house, rather than paid out of pocket.
There’s no universal amount for these costs because they aren’t fixed. Closing costs mainly take a percentage out of the sale of your house, so the higher the price of the house, the higher the closing costs. Typically, closing costs range from three to six percent of the sale price.
Your location also impacts the amount you pay in closing costs. According to Clever Real Estate, “On average, sellers in Georgia can expect to pay 3.14% of their home’s final sale price in closing costs. For a $321,264 home—the median home value in Georgia—you'd pay around $10,077.”
So, who pays closing costs exactly? Buyers? Sellers? It all depends. It’s a case-by-case scenario that can be up for negotiation and discussed by the involved parties. Mostly, it’s the buyer’s responsibility to take on expenses such as mortgage costs, property costs, and title fees.
There are cases where it would be beneficial for a seller to take on a few closing costs. These are considered seller concessions. It’s up to you to weigh the advantages and disadvantages of volunteering to pay part of the closing costs. For instance, if a house has been on the market for a long time, a seller could offer to cover some costs as a selling point to attract potential buyers.
When you sell to America’s most trusted home buyer, you can focus more of your time on moving toward what’s next. There’s no need for you to brush up on your negotiating skills. We take the burden of closing costs off your shoulders.
HomeVestors, America’s #1 home buyer, can not only buy your house fast for all cash, but we’ll also pay typical closing costs, saving you money.
Our professional property specialists provide a high level of care during your entire home-buying process. People entrust us with giving them our best cash offers. We don’t take that responsibility lightly.
When you work with a real estate agent, you have to be ready to pay them a commission, which is typically three percent of the sale for the buying agent and an additional three percent for the selling agent. These commissions are usually a part of the closing costs and are taken out of the potential profit of the house sale.
According to aceableagent.com, the average commission a real estate broker receives from a home sale is about $21,179. It varies from state to state, but in Georgia, it’s more typical for the seller to pay both sets of commissions for the real estate agents.
When you sell directly to HomeVestors®, unlike selling with real estate agents, there’s no middleman involved. We don’t charge commissions or fees for selling your house to us.
It’s an easy process: You get in contact with us, one of our local property specialists visits your house, and then you can get a fair cash offer, possibly right on the spot.
Don't be left waiting or searching for potential buyers. With HomeVestors, you can benefit from local market knowledge. Our team based in Atlanta has experienced home buyers with in-depth awareness of the market. There’s no faster or easier way to sell your house.
We don’t believe you should have to pay to sell your house. We’ll pay the typical closing costs, so you don’t have to.
We also buy houses “as is,” meaning you don’t need to renovate, fix, or clean a thing, which saves you money. You can even leave behind unwanted belongings, and we’ll take care of them.
Simply fill out our form or call us at 866-200-6475. We’ve purchased over 140,000 houses nationwide, with fair offers that sellers have trusted for more than 25 years. Save time and money with HomeVestors, America’s #1 home buyer.