Las Vegas Home Seller's Cost
The following list will give you an idea of what items are typically included in closing costs (not the specific amounts, as fees can vary). The Hildreth Barnhill Team of Realtors will negotiate for you who will pay what BEFORE you sign a purchase contract. Nothing is standard and most everything is negotiable in the sell of a Las Vegas Home. Once you have signed, you have agreed. The instructions cannot be changed unless mutually agreed by all parties, again in writing! Upon closing, make sure each service was actually performed and completed to your satisfaction. This includes everything from pest inspections, attorney fees, etc. Should you have any disagreement on closing costs, don't sign estimated closing statements until you are satisfied that all fees are valid and correctly calculated.
1.Commission - When a Las Vegas home is listed or sold by a Las Vegas real estate agent, there will be a commission to pay. Always make sure it is calculated correctly (usually 3-7%) on the closing statement.
2.Taxes - The Las Vegas home seller is required to pay the property taxes through the last day of ownership. It will be prorated in escrow.
3.Las Vegas Home owner's Insurance - Normally the buyer gets a new homeowner's policy (fire/hazard insurance). Sometimes the lender requires the first year's insurance premium be paid at close of escrow.
4.Assessments and Liens - Liens or assessments against individuals and/or the property need to be paid off before the close of escrow. This could be a back tax lien or judgment. Always make sure to double-check the figures so that these are not overpaid.
5.Escrow and Title Insurance - The seller or the buyer can pay the title insurance fee that is referred to as the "Owner's Policy" covering the new owner's interest and "title" to his new property. The buyer typically pays for his "Lender's Policy" that will cover his new lender's interest in the "title" to the property. The base escrow fee is negotiable, but typically split between the buyer and the seller (except VA Loans).
6.Inspection Fees/Other - There are several types of inspection and miscellaneous fees. Carefully check all charges on your closing statement. Make sure the service was provided before you agree to pay for it. Make sure the charges are fair and not excessive.
- Pest Inspection
- Pest Correction Costs
- Deed Recording Charges
- Loan Fees
- Home Warranty
- Attorney's Fees
- Document Preparation Fees
- Tax Service Fees (if giving 2nd mortgage)
- Other
We want to ensure that when you sell your Las Vegas home that you have a very clear understanding of the process and most importantly the costs. As mentioned above, just about every thing is negotiable. This may either work for you or against you depending on the market conditions. By using the professional services of Las Vegas Realtors like The Hildreth Barnhill Team you can be assured that you will get the most money from the sell of your Las Vegas home.
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