SELLER Closing Costs in San Diego
There are costs associated with the sale of a home. For most sellers, these costs are simply deducted out of your net proceeds by your Escrow company, and the check you receive already has these amounts deducted. Your Realtor can provide you a very accurate "net sheet" to show how much you would net at various sales prices.
1. Realtor Commissions
In California, it is standard for the seller to pay the Realtor commissions for their own agent as well as the buyer's agent. Commission is one of the largest expenses associated with the sale of a home.
2. HOA Fees
If you live in an HOA community, sellers normally pay the HOA transfer fee and the HOA document fee. These fees vary, but I'd budget $1,000-$1,500 total.
3. Recording Charges
This fee is about 1/10 of 1% of the sales price. It is the cost associated with transferring the title at the county recorder's office from your name to the new buyers' name.
4. Escrow/Title Charges
The seller must pay for a portion of the Escrow charges (sometimes they are split 50/50 with the buyer, and sometimes each party pays their own). They must also pay for title insurance, to help protect the buyer from any possible clouds on the title of the property they are purchasing. These charges normally total somewhere between 1/2 to 1% of the total sales price.
5. Home Warranty
If a buyer requests a home warranty policy and the seller agrees, you must pay this expense through Escrow. In San Diego, the policies usually range from $400-$600. They cover appliances/systems in the house, and if the buyer has a maintenance issue arise, they can call their home warranty company, which will send a licensed professional out to take a look at it and potentially remedy the problem.
As a seller, you'll pay your real estate commission percentage plus 1-2% of the sales price in closing costs. Since you are selling, you do not have lender fees associated with the transaction. Your Realtor can work with their Escrow company rep to give you a very accurate breakdown of how much you will pocket from the sale of your home!