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Sellers Closing Cost
- Commissions: It’s typical for sellers to pay 6 percent of the sale price.
- Transfer tax: This is a tax levied by the state. The rate is approximately 2% of the sales price in North Carolina.
- Prorated property taxes: You’ll be responsible for your home’s property taxes up to the closing date, often resulting in a prorated charge at closing. Remember, these are also paid in escrow, but the government will want this upfront. You will get a refund through the lender after closing.
- HOA fees: You will have to pay your HOA dues; they will be prorated. If you paid in advance, a refund will be issued. Your HOA may have a transfer fee or start-up fee. The buyer normally pays these fees.
- Attorney’s fees: Attorney fees for your side of the transaction are your cost.
- Closing fees for the buyer: This may be part of the offer contract negotiations.
- Miscellaneous fees: You may have wiring or overnight fees from the attorney, and other miscellaneous charges that will be discussed with your closing documents. Your closing documents will usually be received the day prior to closing, sometimes the day of closing.
