What are Seller Closing Costs in Carlsbad?

Reblogger Brian England
Real Estate Agent with Arizona Focus Realty SA634540000

Jeff Dowler, CRS definitely knows what he is doing and people in his area are very lucky to have a professional like him to call upon!

Original content by Jeff Dowler, CRS CA DRE #01490977

Carlsbad Sellers’ Closing Costs in a Real Estate Transaction

 

Homeowners who are planning to sell are naturally interested in what they can sell their homes for. It’s probably the number 1 question sellers want answered.

 

moneyHopefully you have hired a great Realtor to help you determine the value and get your home prepared for the market, then listed and sold.

 

But before you start counting those dollars, you do not want to forget about the closing costs that will impact your net proceeds. Remember when you bought the home and had to pay those closing costs?

 

While they differ, there are closing costs for sellers, too.

 

We will discuss these fees if we work together, but any respectable listing agent should provide you with some projected costs when you are getting started so you have an idea of the net proceeds. Keep in mind real estate transaction fees can vary depending on a whole host of factors, including what the contract says buyers and sellers will pay.

 

Seller HandbookThere are 2 substantial fees for most sellers – the commission (you ARE using a licensed professional, aren’t you, so you can maximize your sales price?) and the mortgage payoff; no doubt the payoff is the biggest expense so let’s cover that first.

 

Unless you are fortunate enough to not have a mortgage, the bulk of the money impacting what goes into your pocket after closing is the loan payoff. Your latest mortgage statement should provide the current loan balance.

 

Remember, however, the final payoff amount (e.g., principal, interest, other fees charged by the lender such as reconveyance and recording fees) will depend on the actual closing date.

 

If you have a second loan, say a home equity loan or line of credit, that must get paid off as well.

 

The other substantial fee is the commission, which is negotiable. You will agree on that fee with the listing agent and brokerage you hire, and it will be spelled out in your listing agreement.

 

Here are some other fees you may have, depending on the property and what’s been negotiated in your contract with the buyer. Keep in mind this is from my perspective here in Carlsbad CA – speak with your agent early on to obtain an estimate of what real estate fees to expect where you live. For example, you might not use an escrow company where you are located, and some states use attorneys.

 

Property taxes that are due and haven’t been paid (or a credit from the buyer for property taxes already paid beyond the closing date)

Escrow fee (seller portion)

Owner’s Title Insurance Policy (typically paid by seller per the contract)

Transfer Tax for San Diego County ($1.10 per $1000 of purchase price)

Natural Hazard Disclosure Report Fee

Home Warranty (buyers commonly request seller pay for 1 year)

HOA Document Preparation Fee (if there is an HOA – often paid in advance when escrow opens)

HOA Transfer Fee (if applicable)

 

dollarsThere may be other fees as well, including Courier Fees, Notary Fees (for the deed) and Document Recording fees (e.g., payoff of the loan).

 

While you should have an estimate upfront, the escrow company will provide a summary of the fees, any credits, and your net proceeds shortly before closing.

 

For more information on key things you should know when selling your home, check out my video series on my YouTube Channel, Home Selling Tips and Advice (21 short 1 to 2 minute video tips).

 

If I can assist you in any way with your home sale, please get in touch with me at (760) 840-1360 so we can discuss your needs, time frame, and a market and equity analysis, and create a strategy to sell your Carlsbad home, or one nearby, for top dollar and as quickly as possible in 2020.

 

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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com

 

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Serving Carlsbad (including Aviara, La Costa & Carlsbad Village),  Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Escondido, and  Greater San Diego

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Solutions Real Estate (CA DRE lic #01490977)

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Rainmaker
4,237,702
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brian, great choice for a reblog, and Jeff has done a great job in explaining costs associated with a closing in Carlsbad.

Jan 17, 2020 10:19 AM #3
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington - Tacoma, WA
South Puget Sound Washington Agent/Broker!

You chose the right person to quote or reblog...

I hope you have a great weekend Brian England 

Jan 17, 2020 10:27 AM #4
Rainmaker
3,885,190
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good afternoon Brian England ,

Thanks for re-blogging Jeff's post. An outstanding job of explaining costs associated with a home closing in Carlsbad.

Jan 17, 2020 10:29 AM #5
Rainmaker
3,070,697
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Brian.

The closing costs around my area is about 3% of the purchase price.  Depending, that could be a hefty sum.  

Jan 18, 2020 12:29 AM #6
Rainmaker
575,443
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Have you been active in re-blogging? This is an important re-blog nonetheless as mortgage payoff and commission are big chunks in the seller's sale of his home.

Jan 18, 2020 04:56 AM #7
Rainmaker
5,629,304
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Explaining the closing costs is an important topic in every real estate transaction.

Jan 18, 2020 07:54 AM #8
Rainmaker
1,763,499
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

this is a great choice for a reblog - thanks for sharing with us - closing costs are very important

Jan 19, 2020 07:10 AM #9
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Brian:

What a nice compliment to have this reblogged. I modified it a bit and used it in a bunch of emails to some seller leads...dual purpose!!

Jeff

Jan 20, 2020 05:46 PM #10
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Rainmaker
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Brian England

MBA, GRI, REALTOR® Real Estate in East Valley AZ
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