Other than the commission, learn what other costs are involved in selling.
Yes, other than the sales commission, Sellers do have transaction costs that are typically deemed, “seller costs”.
While closings are negotiable, in our market, the above fees are commonly seen on the Seller side of the transaction. So common, that it would be a unusual to see them paid by the Buyer.
Some of the transaction costs that are often negotiable are home inspections, home warranties, appraisal fees and repairs. The first three are negotiated at the time the offer is presented. The last one is negotiated upon completion of the inspection. You will read more about that in the next paragraph.
Once the home inspections are complete, it is traditional for the Buyer to submit their Objections, Resolutions and Waivers. Many items are typically minor such as a leaky sink, inoperable outlet or a stubborn window. Larger items fall into the category of major defects such as roof repair, water heater replacement or furnace evaluation. Depending on the upkeep of your home, repair costs could range from a few hundred dollars to several thousand dollars. While these costs are negotiable, it could result in a terminated transaction if not handled wisely.