Silicon Beach Properties

Escrow! It’s the goal with any listed property, including homes for sale in Silicon Beach.

There are certain standard costs associated with selling a property in Silicon Beach. Some of these fees are split between the buyer and seller, as spelled out in the sales contract. The cost split on these fees is, to an extent, negotiable.

As we negotiate the sales contract on your behalf, we will strive to achieve not only the selling price you want, but to also limit the number and amount of closing costs for which you are responsible.

Seller Closing Costs

Tax-Related Costs:

• Prorated property taxes if unpaid (rebate if prepaid)
• Capital gains taxes
  • Rule of thumb – if your sales profit exceeds $250K for one seller or $500K for two sellers, you will be taxed on the gain
  • You get to deduct sale costs and all property improvement costs during ownership, so get your paperwork in order

Insurance-Related Costs:

• Owner’s title insurance

Other Costs:

• 50% of escrow fees (negotiable)
• Brokerage commissions (negotiable)
• Natural Hazards Report
• Recording fees
• Termite remediation, if requested and agreed to (negotiable)
• Property repairs, if requested and agreed to (negotiable)
• Pre-payment penalties on an existing mortgage, if applicable
• Municipal transfer fees:
  • city transfer fees
  • city report for buyer (not applicable to all cities)
  • retrofitting toilets, smoke detectors, water heaters and carbon monoxide detectors, if necessary
  • county transfer fee
  • title recording fee
• Home warranty for buyer (if requested in contract) (negotiable)
• Moving expenses

A rough rule of thumb for guesstimating your costs to sell a home in Silicon Beach is 1% of the sale price for general closing costs (excluding taxes and liens) + 5-7% for brokerage fees + any repair costs agreed to during escrow.

Want us to prepare a net sheet for you? Message us with your property address and round numbers for liens against your property and we’ll show you how everything pencils out, no obligation. ?

This post is from our “Seller’s Edge” series, content designed to give real estate sellers in Silicon Beach an edge in getting the price they want on the terms they want. Read more about our full Seller’s Edge program on our website. Want help selling real estate in Silicon Beach? Contact us, grab time on our calendar or read more Seller Edge articles. Want to know how much your property would likely fetch on the market right now? Get a quick answer here.