This list is strictly an estimate and should in no way be held as the true and actual cost. Costs vary based on companies used. Also, depending on the Purchase Agreement, you may pay part of your buyers fees.
When selling a home, there are costs associated with the transaction, the following list is a general average of these selling costs.
Commission is 100% negotiable and will vary depending on experience, location, agency, etc. Typically this commission is a percentage of the sales price of the home payable through close of escrow. Your agent’s broker will normally split this commission with the Buyer’s Agent’s Broker.
The cost associated with recording a new deed. The cost is typically split between both the buyer and the seller at the county recorder’s office. For our example in Las Vegas, the fee is $75
A fee that pays for the services rendered by the escrow company. The fee may vary slightly by company, in my experience it’s approximately $275.
Tax Service: This is a one-time-only fee for setting up tax payments, charged by the lender, in my experience it’s approximately $100.
Title Insurance Fee:
This around $500-$600 fee is associated with the seller ensuring that he/she is giving the buyer a clear title to the property. This fee will vary from one Title Company to another, but usually not by much.
Nevada Transfer Tax:
This is a state specific rate, in Nevada it is $2.50 per $1,000 of the loan paid to the State of Nevada usually by the Seller.
Re-conveyance Fee: Fee to clear the title of the lien and reestablish the deed of trust to the seller, this fee of $156 is paid by the Seller.
Home Warranty Plan:
This may be an optional fee for a one year warranty that the seller pays. Basic plans in Nevada are about $500 on average.
The 1099 form is required by the IRS to report the sale of a property and costs$35.
It is important that your home gives a great first impression to potential buyers. It is very common today for property sellers to hire someone to help stage and prep their home by decluttering, cleaning, and making the home more presentable. The average cost for this service in Las Vegas is between $500 and $2,000 depending on the scope of the staging requirements.
Courier Fees: A lot of paperwork changes hands during the closing process, you may be required to pay a courier fee to use a service to get the required documents to and from the respective parties (lender, title company, escrow firm, and county) this can cost between $50 and $250.
This is a fee a Buyer pays if using a mortgage to purchase the property. e average appraisal fee is about $500 in Las Vegas depending on the size and condition of the home. The appraiser submits a report with the opinion of value that the lender uses. The loan to value ratio is determined using the lessor of the appraised value or purchase price.
If a pest inspection is required or requested, the property will be inspected for pests that can cause structural damage to a home, this may already be included in the home inspection costs. If not, the fee is typically between $50 and $225. This is a required inspection for VA loan borrowers.
There may be other fees that are paid by the seller if the seller agrees to them during the negotiations with the buyer. Sellers can agree to pay any or all closing costs depending on the mutual understanding between the two parties.
I look forward to helping you sell your house quickly for maximum price.
Please feel free to contact me through my website, call or text 702-542-3089 or email LasVegasHomesByJennifer@yahoo.com
Jennifer Harper, Realtor