Turns out, selling a house is more expensive than simply paying a realtor.
The government has their fees, the realty company has their fees, the buyer has a few requested fees, and there are always a few surprise costs waiting to spring up at the last minute.
I’m not mad about the fees – they all seem reasonable, but I do want to know what my grandmother is paying. Like most people, I’m ignorant.
Here are the fees:
- Title Insurance - $600. This protects my grandmother from any title costs that may arise in the future. If something pops up, it’s the insurers problem, not my grandma’s.
- Florida Documentary Stamps on Deed - $371. This is a tax Florida adds to the sale of the house. It has to do with the mortgage changing hands. I’m pretty sure this is only in Florida. Other states may have something similar.
- Recording Fees — $170. These fees are paid to government agencies for recording the sale of the house in public records. This helps keep the sale of the house legal.
- Home Warranty – $485. The buyer asked for this, and since she gave us a full offer we agreed. It protects her from wear and tear on the home’s electrical appliances for the next year.
- Clearing the House - $300. Since my grandmother moved into my parents’ house, she doesn’t need 3/4ths of the stuff she use to. It’s been sitting in the house since she left in December and no one seems to want it. We’ve hired a company to come in, collect all that leftover stuff, and throw it away/donate it us for.
- Termites - $0 — $1,200. The inspection found termites in the home and the buyer wants us to treat the problem before she moves in. It’s a reasonable request so we agreed – especially since my grandmother has a termite protection plan that covers it for free!
- Realtor Fee – 6%. I’ll go over the actual numbers of this fee when I talk about the final closing of the house.
With over $2,000 dollars in fees, it’s easy to look at this for the first time and get upset, but I’m happy.
These fees are more than worth it. We’ve sold the house in a few days, had an amazing realtor that’s taken care of everything, and given my grandmother the extra boost of money she needs to be set for a long time.