Selling Costs are the costs you incur when you sell the property. Most of it goes to agent commissions, but there are other closing costs to account for.
Three ways to enter them
Lump Sum. A single figure such as $40,000.
% of Resale. A percentage of the After Repair Value entered in Step 1. 8% of $500,000 is $40,000.
Detailed. An itemized list, entered as dollar amounts or percentages of resale.
Typical selling costs
Buyer's agent commission, around 3% of sales price. Sellers generally pay this.
Seller's agent commission, around 3%. If you list FSBO or are an agent yourself, you may save this.
Seller assisted closing costs. In a buyer's market, buyers may ask you to cover some of their closing costs.
Transfer or excise taxes, depending on your state.
Home warranty, $400 to $500. Buyers often expect one.
Termite letter, $50 to $100. Often required by buyers and their lenders.
Generally, Selling Costs run 7 to 9% of the sales price.
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