The kids' summer break is quickly coming to an end. As we approach this crazy unorthodox school year have you decided if your kids are going back to school in person? Will they be doing virtual
Costs of Selling Your Home in Georgia
Dated: March 18 2020
What is the cost of getting your home sold in today's market? I'm Misty with JP and Associates…Let's take a couple of minutes to break down the potential costs of getting your home sold. The first place you're likely to spend money is just getting your home ready to show, right? Determine your budget. Set that aside and prioritize, because this is probably the one step of the process where you actually do have a little bit more control over your budget and what you can spend, so make sure you use those dollars wisely. As a home seller, your biggest expense will come from your closing costs. Closing costs are made up of several different costs and they're each itemized and will be broken down on your settlement statement prior to closing. Some of your expenses will include attorney's fees, administrative costs, wire transfer fees, and then expenses associated with searching and proving title. In addition, there could be extra costs that may come with remedying any issues or clouds on the title. You also want to consider items like out-of-state closing charges or if you're doing a mail away closing, you may incur additional courier fees for that as well. Other items that you may want to consider; are you paying for a home warranty for the buyer? Those can run on an average of $500. Are you transferring a termite bond? Are there any HOA fees or assessments that are going to be due prior to transferring the property? We want to make sure that we identify those costs. The largest portion of your closing costs is going to come from taxes and commissions. The commission in Georgia is negotiable. However, for a full-service broker, it's typically 6% which is generally split evenly between both brokerages. Then you're going to have your property taxes, which will be prorated to reflect the time that you lived in and own the property and you're also going to have a sales transfer tax. In the state of Georgia, the fee for that will be $1 per every thousand and then 10 cents per every hundred.
I hope this gives you a better idea of some of the costs that you can incur when selling your house in the state of Georgia. If I can be of assistance, please feel free to call, text, or email. You can also reach us on our Facebook page, YouTube channel or website at lakelinearhomesandestates.com. Make it a great day.
Meet Misty Harris - a U.S Army Veteran and licensed professional REALTOR with JP & Associates Realtors Metro Atlanta. Misty has always been passionate about real estate. It began with her admiration ....