Seller's Closing Costs

These are the costs you can expect to see on your closing statement, automatically deducted from your proceeds. Your attorney should go over these with you prior to closing. If you’re attempting to figure out your bottom line, don’t forget to include your current mortgage payoff(s).

• Real Estate Commission
  In accordance with your Listing Agreement (typically 6% of the sale price)
  
• Attorney’s Fee
  
• Realty Transfer Tax
  
• Allowances for Deficiencies
  You may have negotiated credits to the Buyer for various reasons which are reflected on the closing statement.
  
• Mortgage Cancellation Costs
  A small fee to cancel your existing mortgage and file the required paperwork with the County Clerk’s office.
  
• Adjustments with the Buyer
  Per diem credits for items paid in advance, such as property taxes, remaining fuel in oil tank, etc. In some instances, these can be deductions for items due and not paid.
  
• Miscellaneous Fees
  Generally no more than $100, these would include fees related to notarizing and filing documents.

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