Last minute closing costs take off from your profit


If you're trying to make money when selling your home, don't forget to factor in thousands of dollars of closing fees.

A study from Zillow found the average homeowner spends $18,342 in additional costs associated with selling a home.

Heritage Texas PropertiesMike Mahlstedt said closing costs include the realtor agent commissions, title policy, along with paying off the loan miscellaneous fees and title company fees

“The title policy is a state-regulated fee. And, then the closing fees are all pretty standard. So, all your other charges aren’t going to be flexible because they’re going to be the fees the lender charges to close out the loan,” said Mahlstedt.

He said six percent is the standard commission with three percent each going to buyer's agent and seller's broker. Also, about a percent is the title policy, miscellaneous fees; and whatever it takes to close out your loan.

“In Houston, our average sales price for Harris County is around $250,000, which would put you closer to $15,000in closing cost,” said Mahlstedt.

He added many people spend extra money fixing up their homes to sell, as well.


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