Cost of Selling a House | Lutherville Real Estate | Luthervi

Cost of Selling a House | Lutherville Real Estate | Lutherville, MD 21093

by Helene Kelbaugh of Keller Williams Realty in Baltimore
If you are reviewing closing costs on a HUD-1 this is an exciting time for you!  This means you have successfully made it to the settlement table and are closing the sale on your Lutherville home for sale.  While closing costs should be discussed prior to listing the home and expectations set prior to settling on the home, it's important to understand or have some type of idea of what closing costs are.
What are closing costs?
Closing costs are fees or expenses incurred while closing on the sale of a home. The HUD-1 is a federal document that the closing costs are listed and itemized in detail.  Both buyers and sellers incur closing costs that are apart of the transaction. 
***Closing costs are unique to the seller and location of home being sold.  Talk to a local REALTOR for specifics.
What do I pay as a seller?

What's the Process?

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Am I required to pay the buyers closing cost?
The buyer has their own set of closing cost expenses.  Lender fees, inspections, appraisal, credit report, survey, title insurance just to name a few.  The closing costs to a buyer are also unique to the buyers.  The buyer can ask for closing assistance from the seller.  The maximum amount of closing cost help the buyer can ask for will vary depending on their type of financing and if there are any grants or special programs being used for the purchase.  This will be discussed with the lender during the offer and negotiation period to confirm it's an allowable amount being requested. 

With that being said, when the buyer asks for closing help, it's all negotiable.  Talk to your REALTOR to discuss what the bottom line will be if the closing costs being requested is provided.  You can negotiate this requested amount as a seller.  

In closing
This is just the tip of the iceberg. Each transaction is unique.  Speak with your REALTOR for guidance on the cost of selling a house.

Next Steps
Make an appointment now with a REALTOR.

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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which eXp Realty participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than eXp Realty are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
©2021 BRIGHT, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.
Data last updated: Dec 1, 2021 7:19:pm.