Selling a home in California is always a big and risky financial transaction for all new sellers. For many peoples, houses are the most significant investment they made by collecting a single penny of all their lives.
Whoever will sell their property for the first time in California may get frightened by seeing the long list of selling closing costs in California. Some of them preferred the online Seller Closing Costs Calculator California to examine the estimated closing cost they have to pay.
If you feel confused and disturbed by the long list, stop making a fool of yourself. Let me explain to you why.
As every country has its own rules and legal requirements, if you have seen any long list of closing costs, then you might be misguided. You don’t have to get frightened by only seeing the long list because only some of the sellers closing costs are included in the list.
For your convenience in this article, I have aligned all the seller closing costs necessary to pay while listing in California. Through this list, you will know which cost is included in the closing of California and which is excluded.
The most common seller closing cost are as follows
- Real estate commissions charges
- Escrow company charges
- Title insurance fees
- Country transfer tax charges
- City transfer tax charges
- Lien charges
- All Miscellaneous charges
Now let them discuss in detail and why they are essential to pay at the last of the closing.
Real estate commissions charges
It’s most probably charge up to the range of 5% to 6%, but in some cases, it goes lower or higher. It’s necessary to pay at the end of the closing process because the agent has to look after all the process until the closing, so he would be the last person you have to pay the charges.
Escrow company charges
You have to pay the real estate company from where you have listed your property and got the potential buyer. You have to pay $2.00 for every $1,000 of the last sale price of the house.
Title insurance fees
It is essential to be conducted because through this. You will protect the buyers from future insurance issues, and also it resolves all the previous title insurance issues. It charges up to the final sale price of the house multiply by 00225%.
Country transfer tax charges
Here all the legal transaction charges are paid by the seller to be cleared to perform the transactions. It charged up to $1.10 for every $1,000 of the last sale price.
City transfer tax charges
These costs depend on the city you are selling your house in, California. It has very reasonable rates.
This charges up to some dollars necessary to check the rights and authorities of the sellers.
Miscellaneous items charges
all the miscellaneous charges include the utility bills and other expenditures that have been done to process the listing process. It usually varies for each final transaction.
I hope now it would be easy to calculate the closing cost in California as I have mentioned all the expected closing costs of California.