Closing costs for sellers are a part of the home selling process. They can be confusing, and it’s easy to overlook some of the required costs. If you’re a seller, you should prepare for closing costs before listing your home. Here’s a breakdown of some closing costs you’ll have to pay when trying to sell a house fast in Oklahoma City.
1. Home Inspection Fee
If you have a home inspection certificate, you can show the buyer that the home is in good condition. This inspection can help you get a higher price for your home, as the buyer won’t have to worry about making repairs after they move in. Alternatively, a cash home buyer in Oklahoma City will buy your house as-is, so you don’t have to worry about the house’s condition.
2. Home Insurance
Most home buyers will require you to have a home insurance policy before they agree to purchase your home. Home insurance protects them if anything happens to the house after moving in. As the seller, you’ll have to pay for a home insurance policy until the day of closing. The cost of the policy will depend on the value of your home.
3. Title Transfer Charges
After the deal is closed, the home’s title will be transferred to the new owner. The title company will charge a fee for this service. The cost is typically around $200 but can vary depending on your location and the company you use. As the seller, you’ll have to pay this fee at closing.
4. Taxes and Utility Bills
You are also responsible for paying any outstanding property taxes or other taxes related to the house. These taxes are typically paid up until the day of closing. In addition, you’ll need to keep the utilities running until the day of closing. The new owners will want to be able to move in and not have to worry about setting up their utilities.
5. Municipal Lien Search
A municipal lien search will thoroughly investigate if there are any unresolved liens, permits, taxes, and utility bills relating to the property in question. Knowing about these charges is important because if the new buyer finds any of these things after they’ve already purchased the home, it could lead to difficult circumstances.
These are only a few of the fees that come with selling your home. It’s essential to be aware of all the potential costs before you list your home to budget accordingly.
Did you know that you could avoid all these closing costs with a cash home sale? We are Bricktown Home Buyers, and we buy houses in Oklahoma City for cash. We take care of your closing costs so that you can earn a better profit from the home sale.