Capitolhouses Blog

When it comes to selling or buying a property, closing costs play a significant role in the financial aspects of real estate.     Understanding closing costs is crucial.  You may pay some or all of these closing costs when selling or buying a home. There are costs associated with the home itself such as inspections and insurance, while others costs come from third parties like lenders and settlement companies.  Understanding these closing costs upfront allows a buyer or seller to plan their budget effectively, and avoid surprises.  SELLER SIDE Real estate commission:  An agent’s commission can be a significant seller cost. Transfer taxes:  States require transfer taxes on a property’s sale. The taxes can be based on the sale price and vary depending on location. Attorney fees:  Sellers need an attorney to handle the legal aspects of the transaction.  Prorated property taxes:  Sellers may need to reimburse the buyer for the taxes that have been paid in advance.   Home repairs- seller ma