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Owning a home is a keystone of wealth, both financial affluence and emotional security. - Suze Orman

I recently posted about the closing costs sellers should expect to pay in a real estate sale - these costs can range from 1% to 8% of the sales price, depending on if a real estate broker is involved. For buyers, closing costs in our region typically run about 2-3% of the purchase price.

Here’s a breakdown of what buyers can expect to lay out at the closing table: Read the rest of this entry »

“Selling your apartment in New York is like dating a manic-depressive.. you get used to cycles of elation and despondency. Every time someone would come to see the apartment, there was the thrill of the date. You want to be presentable, so you clean the place up, make sure it smells good, put on some mood lighting and mellow music.” -Anderson Cooper

After all the work you put in to selling your property, nobody wants any surprises at the closing table, so it’s important for sellers to know what to expect in closing costs when selling real estate.

In general, Sellers typically spend about 5-8% of the sales price in closing costs if the sale was brought about by a real estate broker; if no broker is involved, the costs usually run about 1-2% of the sales price.

Here’s a schedule we put together that shows estimated closing costs when selling real estate. Remember, these are just estimates and they focus on our local area - be sure to review your costs with your attorney to find out what they’ll be in your area. Read the rest of this entry »