• Willie Baronet

8 FACTS YOU NEED TO KNOW WHEN SELLING YOUR HOME IN LOS ANGELES COUNTY


When selling your home all the costs and expenses can be overwhelming. We made it easy for you to understand with the 8 expenses you can expect to pay for

SELLERS PAYOFF AND SELLERS CAPITAL GAIN

Includes bank or loan institution payoff of your home, expense

Interest on payoff balance prorated to date of escrow closing date, expense

Fees for recording payoff with the County, expense

The above fees will net you with your profit.

ESCROW FEES

Below are all the fees you can expect to pay through the escrow process. Once escrow closes you will pay for all the expenses from your profits which will give you your final Capital Gains

SELLERS TAXES (a credit)

Pro-ration of paid County Property Taxes

CREDITS TO BUYER (if any, expense)

Credits include any costs that were mutually agreed on between buyer and seller through the purchase agreement negotiation process

COMMISSION (5 to 6%, expense)

Buyer Agent commission

Seller Agent commission

OTHER COSTS (expense)

This would include any expenses that seller agrees upon, ie: Termite inspection, Home Warranty, Mandatory retrofitting requirements by city, City fees, Natural Hazard Disclosure, notaries, Postage/Fedex/Wire fees, and any other required contractual inspections agreed to by seller.

TITLE CHARGES (expense)

Title Insurance, Owners title insurance guaranteeing a free title to buyer

Pro-rated Property Taxes for one of both periods

Recording of Grant Deed

Wire/Overnight fees

ESCROW (expense)

1099 Fees if any

Sellers Escrow Fees

Grant Deed Filing Fees

Notary Services Fees

STAGING FEES (these fees will not be on your escrow closing statement but should be taken into consideration when selling your home, expense)

Painting or Repairs fees

Landscaping costs

Purchases for staging

Stager Fees

Staging Rental Fees

CAPITAL GAINS (Your Profit)

Buyers purchase price less payoff equals your profits or net proceeds. If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse. https://www.irs.gov/taxtopics/tc701

THINKING OF SELLING YOUR HOME? I WILL GIVE YOU AN ESTIMATED SETTLEMENT STATEMENT FREE! CALL TODAY 310-801-0633 WILLIE BARONET

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(805) 941 - 1042

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(310) 620 - 8636

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