Selling your home is one of the biggest financial transactions you’ll ever make. It’s important you understand the costs involved and also how they will impact your bottom line. We’re going to break these down in detail.
The cost to sell a house depends on a number of factors, including the final sales price, the type of property, and the terms of the purchase agreement.
It’s impossible to know exactly how much you will need to pay ahead of time. The final closing costs aren’t calculated until after close of escrow. Once everyone is paid, you receive a check from the escrow company for your Seller Net Proceeds.
- San Francisco city and county transfer tax (Learn how to calculate your SF transfer tax here.)
- Real estate broker commission
- Pre-sale inspections
- Compliance with any California and San Francisco required ordinances such as energy and water conservation
- Pre-sale enhancements such as painting, minor repairs, floor refinishing, garden clean-up, cleaning, etc. A skilled San Francisco listing agent (ahem, like Jing Fang) will advise on the most crucial fix-ups to bring you a substantial return on investment (ROI).
- Professional home staging, when appropriate
- Property taxes prorated on the closing date
- Home owner’s association fees, if any, prorated on the closing date
- Loan pay-offs, i.e. your proceeds will be used to pay off your current loan
Example Of Seller’s Closing Net Sheet