NBR - Selling a house.

marryingacoach · July 2009

I probably should put this on MM but I'm more comfortable asking on here (and my agent isn't available right now)...

Other than the 6% realtor fees what other costs may the buyer ask the seller to pay for... ie help with closing costs or a warranty?
Are there any other hidden cost that I should be aware of?
Are there additional taxes on selling a house in a different state that you did not live in the last 2 years?

We got an offer on our townhouse last night. Of course I'm going to make a counter offer. I want to be realistic but I also don't want to lose money on this. This TH was never intended to be a "money maker" but I want to make sure I include everything in my calculations. TIA!!!

mrsbluetoes · July 2009

There is certainly a wide range of things they may ask you to pay, but the most common would be closing costs and repair costs (for anything the inspector finds).

WendyNC · July 2009

Anything is negotiable. Sometimes sellers pay an amount toward closing costs or pay for a warranty or for some repairs.

In NC, the seller also typically pays for the Deed to be prepared (we charge $115) for deed prep and also in NC the seller pays the "deed stamps" to the register of deeds which is $2 per thousand of the price of the house (example $200 for a $100,000 sales price).

You have to have lived in the property 2 out of the last five years as your principal residence to exclude the gain. We have the seller sign a certification about this.

WendyNC · July 2009

And if it has a mortgage make sure you check on the actual "payoff" not just what you owe on the principal balance when calculating that in your figures.

mrsNnearly · July 2009

I would budget in some money for repairs stemming from the inspection...other than that I think you and pp have it covered.

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NBR - Selling a house.

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