Regarding Real Estate LLC
At the end of the real estate transaction come the closing costs. For seller costs, this can come to a significant amount of money on the closing date. However, the more you know about how closing costs are calculated, the better prepared you'll be for completing your home sale. Here are the most important things to know:
Closing costs for sellers vary based on multiple factors. Luckily, there are plenty of online calculators and other tools available for estimating your total closing costs. You'll need to combine property taxes, closing fees, title insurance fees, escrow fees and attorney fees with commissions paid to real estate agents.
Sometimes a seller can offer to cover the whole closing costs for the purchaser. This can help you win over a potential buyer in a competitive marketplace. A purchaser can ask for concessions in exchange for completing negotiations.
In some cases, buyers may ask for an offer to cover an issue found in a home inspection. Talk to your sales agent to find out if there's an alternative option to match your goals.
Closing costs will vary from one sale to the next, but sellers can typically expect to pay around 8% to 10% of the home's total sale price. The largest part of this percentage comes from real estate agent commissions, which can be as high as 6% of the purchase price. Other cost variables include local tax rates, homeowners association fees, legal fees and title insurance fees.
Your total seller closing costs will be due when you sign your final loan documents on the closing day. Make sure to have everything prepared to complete the transaction, as delays in closing can end up costing you more.
Once the seller pays closing costs and all the paperwork is signed, the sale is considered completed. Keep these basics for how and why sellers pay closing costs, and you'll be better prepared for every step of the process.
Johnna grew up in Amherst NH and still has strong ties to the Amherst & Mont Vernon Communities. Johnna moved to Manchester at 19 when she purchased her 1st home. She has resided in the West Side of Manchester since 2007. Always having a strong interest in real estate, Johnna and her husband, Jeff, started investing in rental properties in 2017 with the purchase of a 2 bedroom condo in Manchester. They now own 10 properties with the goal of growing to 60 total rental properties. In 2020 Johnna and Jeff started adding short term rentals to their portfolio focusing in the NH Lakes Region and Southern Maine Coast. Johnna achieved Airbnb Super Host and VRBO Premier Host status within the first year.
From May to October Johnna divides her time between Manchester, NH and her beach cottage in Wells Maine. Johnna’s extensive experience with both long term and short-term rental properties makes her the ideal real estate agent to help you start or build your real estate investment portfolio. Johnna works with a lot of home owners selling their homes and buying homes simultaneously and also sellers relocating out of the area.
Johnna prides herself in being hard working, dependable and down to earth. In her free time, she enjoys reading, jigsaw puzzles and spending time outdoors with her husband, dogs and friends.
