Expert: Dottie Worthington - 12/13/2011

Question
Hi Dottie,

I'm thinking of selling my home in Fort Worth/Keller area.  I'm just concerned about how much I'd need to bring to closing.

If it sold for somewhere between $185k and $190, what would I need to pay in addition to the realtors fee?  I'm guessing realtors fees would be $8-10k, depending on the percentage.

The home last appraised at $197k, and I've done a lot to it (all hardwoods, new fixtures, landscape, etc), but according to Zillow and my comps, I'd be lucky to get $185-$190!  This market is awful!

So, what is included in a sellers closing cost?  How much should I set aside to bring to the table?

Thanks!
Melissa

Answer
Dear Melissa:  The closing costs will depend on the type of loan your buyer is getting and what they ask you to pay.  You will more than likely have to pay the Title Policy and it would run $1361 for a sales price of $197,000. Commission would be 5%-7% Then there are filing fees, closing fees, etc.
Your Realtor should have done a net sheet for you when it was listed. Then do another with each offer you get. We have actually had a great November and December! We are lucky to live in Texas.  If you need a Realtor, we are listing one in Arlington today, and just sold two over your way in the past month. e-mail me dottie@worthington.bz  

Good Luck...Dottie Worthington