When selling a home, a seller is responsible for the sales commission of the Realtor, which can average from five to eight percent of the sales price. The seller is also responsible for title insurance for the new owner, as well as government transfer taxes.Continue Reading
Sellers are also responsible for loan payoff costs due to prorated interest on their mortgage, title insurance fees, as well as any unpaid Home Owner Association dues. If the seller has an attorney representative at closing, those fees also need to be paid. Judgements and liens against the property, as well as prorated property taxes and HOA dues, also need to be paid by the seller.
Depending on the contract and negotiations with the buyer, a seller may also be responsible for some of the buyer's closing costs, termite remediation, home warranty premium and/or repair bills for items found in the inspection.Learn more about Real Estate