With all the whirlwind of selling your home, it's easy to forget about the costs that will be incurred upon a successful closing. In order to help you prepare, here is an estimated breakdown of what to expect :
- Legal fees: While the legal costs depend on the complexity of the transaction, they generally run between $1,000-1,250 for a standard real estate purchase.
- Adjustments: Your lawyer will be able to confirm the property tax adjustment, if any.
- Real estate fees: This fee varies, but is typically around 5% of the sale price.
- Mortgage fees: Depending on your situation, your lender may charge fees or penalties. Speak with your mortgage professional to confirm.
Since there are many variables, please note that this is a guideline only.