How Much Will It Cost To Sell My Wake Forest NC Home?

By
Real Estate Broker/Owner with RED Properties NC #129285
https://activerain.com/droplet/tky

Both buyers and sellers of Real Estate have closing costs associated with the transfer of real Selling Your Home in Wake Forest NCestate.  Each pays something different and as a top Wake Forest NC Real Estate Agent it is my job to be sure that PRIOR to closing I provide either of them (depends on who I represent) their estimated closing costs.

In the case of a home seller that comes in the form of Seller Net Proceeds.  While I can not give exact figures for what closing costs are my years of experience do allow me to be very accurate in estimates.  So, if you are thinking of selling your home in Wake Forest NC here are the costs that will be associated with the sale.

  • Document Preparation:  Cost will vary from attorney to attorney but an good estimate is $200.00.  This is the charge for the attorney to prepare YOUR deed for transfer to buyer. 
  • Excise Tax/Tax Stamps:  This is a tax that is charged for selling your home.  In North Carolina the charge is $1.00 for every $500.00 pf the sales price. (.2%)  Example: A home sells for $300,000.00 so the transfer tax charged to the seller would be $600.00
  • Commission:  This is the charge from the real estate company to sell your home.  Each company charges a different fee and it would have been predetermined when you signed the Listing Agreement.   This could be a percentage of the sales price or even a flat fee - it depends on what you agreed upon with your Realtor®
  • Real Estate Taxes:  These are not to be confused with the Excise Tax/Tax Stamps above.  These are your annual Property Taxes.  They must be prorated which means that you as the seller will pay for your portion up to the day of closing.  
  • Homeowners Association Dues:  This may not apply to you but if your home is located within a subdivision that has a Homeowners Association then you will be required to pay your Homeowners Association Dues up to the time of closing.
  • Current Loan Payoff:  This is the amount of the current mortgage on your home if you have one.  The attorney that is handling the closing will request a payoff from your mortgage company prior to closing and then will pay your current mortgage with the proceeds from the sale of your home. 

Selling Your Home in Wake Forest NCThe above are standard charges to a seller when they sell their home.  Keep in mind that there may be additional charges depending on the Contract that you have agreed upon with the Buyer.  For instance, did you agree to pay a portion of the Buyer's Closing Costs?  Did you agree to pay for a Home Warranty for the Buyer?  Those charges would then be added to the above mentioned charges and would be reflected on the Settlement Statement.

If you have any questions regarding any of the charges that I mentioned above OR if you would like to get an idea of what your profit would be from selling your home in Wake Forest NC just give me a call at 919-649-6128 or simply send me an email!  I would be happy to prepare a preliminary Seller Net Proceeds for you!

* It is VERY important to note that the above is only specific to NORTH CAROLINA!  Each state handles closings differently and each state may have different fee structures.  If you are in another state reading this and would like more information regarding YOUR net proceeds in YOUR state give me a call - I have a WIDE network of professionals in every state that can help!

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Show All Comments
Rainmaker
1,561,539
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Good information for your area. Sellers want to know three things - how much can I get, when can I get it, how much will it cost and how much  do I walk away with!

Nov 22, 2011 02:19 AM #5
Ambassador
2,899,830
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Leesa, Good details on what to expect and it's always good to avoid any surprises at the end because the sellers didn't think about taxes or transfer fees.

Nov 22, 2011 03:19 AM #6
Rainmaker
427,439
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

Leesa: this a terrifc post for your clients in Wake Forest. Also would be a great handout for your seller pack.

 

Nov 22, 2011 03:29 AM #7
Ambassador
1,014,037
Sharon Paxson
Compass - Newport Beach, CA
Newport Beach Real Estate

Hi Leesa - excellent post regarding closing costs - you have explained it well, and Leslie has a great idea about including it for sellers.

Nov 22, 2011 03:43 AM #8
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

HA!  You are SO right, Gary!  It all comes down to "how much"?  I have heard such horror stories of agents NOT providing this information to their sellers and boy, is there a surprise come closing time.

Nov 22, 2011 03:49 AM #9
Ambassador
1,444,576
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Leesa,

The Sellers Net Sheet is one of the most critical documents we can provide our clients. I've upped the ante in my presentations by putting it on my iPad.

Great stuff.

Rich 

Nov 22, 2011 03:52 AM #10
Rainmaker
560,417
Jo Olson
HOMEFRONT Realty - Kettle Falls, WA
Retired - HOMEFRONT Realty @ LAKE Roosevelt

Nice article, Leesa.  So many times sellers don't realize they have closing costs, too. 

Nov 22, 2011 05:35 AM #11
Ambassador
552,747
Julie Dumaine-Russell
RE/MAX Alliance - Branford, CT

Leesa - This is a wonderful outline of the costs a seller needs to be aware of when selling their Wake Forest NC home!

Nov 22, 2011 09:14 AM #12
Ambassador
1,514,247
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Great post, thanks for sharing.

:)

Nov 22, 2011 09:45 AM #13
Rainmaker
552,457
The Scott Loper Team Bux-Mont Premier Properties
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi Leesa,

Nice layout of the costs to sell.  It is important to manage expectations for a seller as the cost to sell are significant.  We have one borough near us where the use and occupancy inspection is so grueling that we tell sellers to budget $1,000 for the stuff that will be required.  If they get off for less, they are happy.  If not, at least they were prepared.

Lisa

Nov 23, 2011 01:03 AM #14
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks for stopping by, Bliz!  Sellers need ro be prepared as much as possible so there are no last minute surprises at the closing table.

Nov 23, 2011 07:38 AM #15
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks, Leslie!  I do include a handout for my sellers which goes over what their potential closing costs are - it is surprising to see how many just weren't aware of their costs.

Nov 23, 2011 07:39 AM #16
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks for stopping by Sharon!  I do, indeed, have a handout for sellers - like I mentioned, many of them just have no idea what they have to pay.

Nov 23, 2011 07:40 AM #17
Ambassador
3,939,004
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Excellent list, Leesa!  I do a net sheet for my clients but, love this list with explanations even better!  What a great list to include in your listing presentation too.

Hope you and yours had a wonderful Thanksgiving!

Nov 24, 2011 02:50 PM #18
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

That's a wonderful idea, Richard and YES!  It is one of the most important pieces for the sellers!

Nov 25, 2011 04:25 AM #19
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

It is surprise, Jo!  Many times they are only thinking commission to be paid but they have no idea of the other costs involved in selling a property.

Nov 25, 2011 04:26 AM #20
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks, Donna!  I always appreciate it when you stop by!

Nov 25, 2011 04:27 AM #21
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

LOL Renee - only you......  ;)

Nov 25, 2011 04:27 AM #22
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

So true, Lisa!  I pad my numbers high as well to be sure to cover it all!

Nov 26, 2011 12:06 AM #23
Rainmaker
635,598
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks, Debe - I hope you had a fabulous Thanksgiving as well!!!

These costs need to be ezplianed up front to sellers to prevent the suprised look later.  It's great that you include them in the listing presentation - so do I!

Nov 26, 2011 12:08 AM #24
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RED Properties - Raleigh NC Real Estate
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