Tulsa home Sellers bear the brunt of cost in a real estate transaction. Costs a Seller should anticipate include the following:
- mortgage pay-off
- pro-rated taxes
- pro-rated home-owner’s insurance
- real estate commission
- tax service fee
- settlement fee
- abstract fee
- transaction fee
- documentary stamps
- buyer’s home warranty
If you are unfamiliar with any of these terms listed above, make sure to visit the real estate glossary for definitions.
Some of these costs are negotiable, while others are required by law. Your real estate professional should provide you with a “net-to-seller” when listing your home, so you must consider the bottom line and determine if the amount you should “net” will satisfy you at the closing table. This way you have no surprises on the day of closing. Too many times sellers ignore these costs and become shocked to find that instead of getting a big check at closing they get only enough back to take the family out for a meal. Asking your agent to do the homework ahead can keep you from experiencing these types of surprises.
Please be advised, however, that you can not increase the list price of your home to simply satisfy the amount you wish to net — the market will always determine the amount for which you can sell your home.
If you have more questions regarding selling your Tulsa home, please feel free to contact me. Also, if you wonder what you might be able to net from the sale of your home, fill out the What is My Tulsa Home Worth? form and I will be in touch with a free CMA (comparable market analysis).