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Who Pays the Closing Costs When Selling a Home? The Buyer or the Seller?

Both the buyer and seller have to bear a part of the closing costs. The types of closing costs borne by the buyer are different from what the seller has to pay. Are you looking to sell a house fast in San Antonio and wondering about the closing costs you need to pay? We can help. We also have a few simple tips to reduce the closing costs.

What Are Closing Costs?

All fees that must be paid on closing day are the closing costs. Although this can vary depending on local property taxes, insurance prices, and other considerations, the general rule is that total closing costs on residential properties will be 3% to 6% of the overall purchase price.

Although buyers and sellers typically divide closing costs, the San Antonio real estate market has developed its own norms and practices. They are determined mainly by how buyers and sellers negotiate the transaction.

Here are some of the closing costs involved in a home sale.

For SellersFor Buyers
Transfer FeesMortgage Fees
Realtor CommissionProperty Registration Fees
Buyer’s Title Insurance PremiumMortgage Insurance
Property Taxes (if any outstanding)Realtor Commission

Don’t be caught off guard by these expenditures when you need to sell a house fast in San Antonio. Knowing who is responsible for what can help you budget for what to expect at the end of the transaction, so there are no surprises. You walk away with more money in your pocket.

Tips to Save on Closing Costs

Negotiate for the Buyer to Pay

If your property offers excellent incentives for the buyers in terms of value and locality, they may be more inclined to pay a higher share of the closing costs.

Shop Around

Spend some time looking for great deals on insurance, home inspections, repairs, and upgrades to save costs.

Seller Concessions

A buyer may request concessions from you, such as cash to cover specific repairs, house insurance coverage, or a portion of their closing costs. Make sure to bargain hard on these concessions, as they can be pretty high.

Selling Your Home to Cash Home Buyers

Cash home buyers in San Antonio will buy your home for cash and take care of all the closing costs. A cash home buyer can be a great bargain.

We buy houses in San Antonio and make the process of selling your home as simple as possible. There are no charges and no fees! We can help you sell your house in San Antonio for an excellent price.

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