Mar 3, 2015

Cost of selling a house in Dallas

Closing costs are a big expense when selling a property in Dallas. Who pays them are sometimes mandated, sometimes standard practice and sometimes can be negotiated. Any way you look at it, the cost of selling a property in Texas is one of the highest in the country.

In Dallas, it is common for the seller to incur the following expenses (and their approximate costs per my experiences):
  • Mortgage payoff - dictated by your lender
  • Selling broker's commission - typically 3%
  • Buyer broker's commission - typically 3%
  • Title insurance policy - roughly half a percent of the sales price
  • Prorated taxes - seller's share of current year taxes
  • Survey $0-$900
  • Release of lien - $20 to $50
  • Courier fee - $10 to $50
  • Document Preparation fee $125 - $450
  • Recording fees $40 - $95
  • Escrow fee $0 - $350
  • Home warranty $0 - $1,100
  • Homeowners Association transfer fee - $50 - $900
  • Homeowners Association resale certificate - $100- $600
  • Flood certificate $0 - $50
  • Tax certificate $250-$500
  • Deed $20 - $45
Please keep in mind that these expenses vary depending on the sales price, size of the property, county it is located, type of property (condo, single family, acreage, ...) and other factors. Many title company fees are regulated by the state, so your closing costs are not going to vary much based on which company you use.

If you are not experienced with selling a home, it is unlikely you would know what closing costs can be negotiated with the buyers. A knowledgeable and experienced Realtor can not only guide you through the paperwork and navigate the legal issues, but assist you with writing a contract to help save you money at the closing table. If you need help determining if you can afford to sell, call me to help make this part of the process easier.
[where: 75230]

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