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So, you’ve thinking of selling your home…and wondering what some of the costs are?
Commissions, properly the most expensive of all. Commission vary from 4-6%, but its important to know that those commission are negotiable. Every licensed Realtor is different, each has specialties. Also, these commission are also generally deductible.Not only do Realtors market your home, do open houses and answer inquiries, and do showings, they also work in your best interest
2. Transfer tax, when you buy or sell, and that rate is .02% ( split between buyer and seller) On a $200,000 home, your tax for the seller would be about $220
3. Non resident tax, for homeowners that do not live in Maine, is 2.4%.
4. Attorney fees. For representation, for your sale of your home , cost could be about $300-$500. If your home is being mortgaged from the buyer, you may have minimal costs of $200 ( just to have the deed transferred to the buyer)
5. Also, you will have pro-rations on:
Fuel, Real Estate Taxes, etc.
6. When dealing with such a large purchase, its best to not only speak with an attorney
but also a Realtor to get some ideas…
A great place to start is to get an idea of what your home is currently worth….
My instant home value is just a click way… just click here