What Buyers and Sellers Can Expect to Pay During a Real Estate Transaction

 

Typically in real estate transactions, everything is negotiable. However, there are certain costs that buyers and sellers can usually expect to pay.

 

Usually, the seller will pay the commission to the broker they hire. The broker then pays out a commission (the amount of which the seller has agreed upon) to both the agent selling the house and the buyer’s agent. Remember, the agent works on behalf of the broker.

As a buyer, you typically have to pay for the appraisal, the termite inspection, loan fees, title processing fees, and the title search. When you select your title company, the title company will search to make sure there are no defects and the title is free and clear. That way, you won’t wind up with hostile claims or other people claiming they own the property once you buy it.

Remember, everything is negotiable.

Things like taxes are paid on both sides of the transaction. The buyer will be responsible for flood certification, prepaid interest, homeowner’s insurance, and property taxes. Sellers can always contribute to closing costs. Remember, everything is negotiable.

If you have any questions about what you can expect from your specific transaction, give me a call or send me an email. I look forward to hearing from you!

 

Dan Rochon

Dan Rochon is an Associate Broker in VA, Broker in MD; Operating Principal/ Owner of the Keller Williams Realty office in Alexandria - Kingstowne, VA; Owner of Rochon Investments, LLC; Owner and Co-founder of www.GreetingsVirginia.com and Owner of other Joint Ventures as well as a real estate principles instructor at Moseley Real Estate Schools. 


As a real estate sales agent, Dan and his team are consistently top producers in their marketplace and provide solutions for their clients. Through their investing company, Dan and Traci Rochon have been investing in residential and commercial real estate ventures for more than the past decade.


Dan and his wife Traci are frequent speakers and are often quoted in media stories about the current real estate market. The Rochon's have been featured on The Nightly News with Brian Williams, The Today Show, CNBC, The Washington Post, The Washington Examiner, WTOP News, Voted as The Best of DC Real Estate Agent in the Washington City Paper Readers Poll, and more...