Washington seller shuts down fee calculator

Buyer’s Agent Fee: $15,450 – $18,540

In the past, sellers covered the fees for listed agents and buyer agents. But, afterward Landmark court settlement By the National Association of Real Estate BrokersNow, it is expected that the buyer will directly compensate his agent. If you are Provide this fee To attract buyers, you can expect to pay $15,450 – $18,540 on a Washington home with a median price.

Detailed closure fee: $15,450 – $22,248

Closing fees in Washington (excluding agent fees) are usually scoped 2.5%–3.6% The price of the house. Due to Washington’s real estate excise tax (REET), which is higher than some states, it is a transfer tax on the sale of real estate. In a home with a median of $618,000, you might pay $15,450–$22,248. Here is a list of typical billing cost types you can expect:

• Family preparation: Curb appeal Efforts like cleaning, beautifying the environment or professional home stages.
• Renovation/repair: Repair or update your home and property Meet the buyer’s expectations or inspection request.
• Ownership service fee: Work in a property company Legal ownership must be verified and help manage the transfer of Washington property.
• Owner’s Title Insurance: One-time insurance premium Payment by the seller to protect the buyer from ownership issues or ownership disputes.
• Transfer Tax: Washington State collects Real estate consumption tax This may range from 1.10% to 3% depending on the price of the home. (See the REET tax rate chart below.)
• Recording fee: Fees paid to local governments formally record changes in property ownership.
• Buyer incentives: credit or concession You may offer buyers, such as payment Buyer’s agency fee Or provide Buy ratio.
• Other fees: Miscellaneous fees not covered in other categories, e.g. Attorney’s Fees and Homeowners Association (HOA) transfer fees or pending membership fees.
• Mobile fees: While not technically closing costs, you may want to include this fee in your budget, which may be from $883 arrive $7,000.

Here is the real estate excise tax form for Washington State.

source: Washington Department of Taxation

Many counties and local governments in Washington also charge their own smaller Reets to the state’s taxes. In most jurisdictions, this is equivalent to 0.25% or 0.50% Each selling price threshold. Our Washington Home Seller Close Cost Calculator estimates the total ratio of 1.28%. Please visit this wa.gov link to view local REET rates in your county and city.