(304) 367-0543 SIGN UP / LOGIN ≡ ESTIMATING YOUR NET PROCEEDS Once Picket Fences Real Estate provides you with an accurate Comparative Market Analysis, you will have a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful when you start shopping for your next home. Traditionally, certain costs are attributed to either buyers or sellers, depending upon local practices. These “splits,” as they’re called, can vary from state to state and area to area. The outline below is simply a rough estimate of what you might expect to pay at closing. To estimate your closing costs, and how much you can expect to walk away with after closing, subtract the applicable costs below from your expected sales price. In WV, Sellers Traditionally Pay The Following Costs (Subtract from sales price as applicable): payoff figure on your present loan(s) broker's commission prepayment penalty on your mortgage (these days, this penalty is very rare) attorney's fees (for the sellers in WV, approximately $150 Deed prep fee) unpaid property taxes transfer tax fees - Most counties in WV, including Marion and Monongalia, charge $4.40 per $1,000.00 of the sales prices. Harrison County is $7/per $1,000.00 of sales price. Some counties such as Preston, charge $6.60 per $1,000.00. On a $100,000.00 house in Marion County, the transfer tax fees would be $440.00. This is also sometimes called "excise tax" or "Documentary Stamps/Doc Stamps." To calculate: Sales Price ÷ 1,000 x $4.40 = tax. home warranty, if offered (usually about $600) selling bonus, if offered buyer’s closing costs, if offered (see below) Buyer’S Costs - Buyers Bear The Brunt Of Expenses In A Home Purchase/Sale. In West Virginia, the buyer traditionally pays for the items listed below, in addition to their lender’s mortgage application costs, and other fees and closing costs. It is not unusual for buyer’s closing costs to run between $3,000 and $6,000, PLUS their down payment. If you wish to assist your buyer with any of these costs subtract, as applicable, from the contract sale price. For the sake of simplicity, it may be simpler to offer to pay up to a certain amount toward their total down payment and costs. title insurance premium down payment survey fees appraisal fees inspections and repairs for termites, etc. Homeowner Association transfer fees and document preparation home protection plan attorney’s fees natural hazard disclosure report (flood certification) Closing Costs Are Not Carved In Stone. You and your buyer can agree on any arrangement that suits you, no matter what local practice dictates. Picket Fences Real Estate will assist you in estimating what your final closing costs will be. Fairmont Office 309 Cleveland Ave Ste 508 Fairmont, WV 26554 Phone: (304) 367-0543 Bridgeport Office 400 Johnson Ave Ste 1G Bridgeport, WV 26330 Phone: (304) 367-0543 SEARCH OUR LISTINGS RESIDENTIAL COMMERCIAL MULTI-FAMILY MAP SEARCH MORGANTOWN NEIGHBORHOODS BRIDGEPORT NEIGHBORHOODS CLARKSBURG NEIGHBORHOODS FAIRMONT NEIGHBORHOODS BUYER TOOLS STEP 1 - PRE-APPROVAL GET PRE-APPROVED NOW OUR SERVICES WHY USE A BUYER'S AGENT TIPS FOR BUYERS YOUR CREDIT SCORE AND HOW IT WORKS FINANCING OPTIONS FOR YOUR NEW HOME DOWN PAYMENT ASSISTANCE ADVANCED SEARCH SELL A HOME WHAT'S MY HOME WORTH? SELLING STEPS PRICING YOUR HOME ESTIMATING YOUR NET PROCEEDS BASICS OF MARKETING YOUR HOME RESOURCES CALCULATORS CONCIERGE REPRESENTING YOU WHAT IS A REALTOR? GET PRE-APPROVED NOW AGENTS BLOG ONLINE EDUCATION ABOUT OUR SCHOOL SIGN UP FOR ONLINE CLASSES CLASS LOGIN REAL ESTATE CAREERS ABOUT US ABOUT OUR BROKER MEET OUR TEAM CUSTOMER REVIEWS ETHICS CONTACT US Realtor.org HUD Agents Only LoginDisclaimerTerms of UseADA Accessibility This site is hosted, designed, and copyright© 1994 - 2021 by Delta Media Group, Inc. -- Patent Pending -- Agency License Information: 003508-00 Broker Lic. #WVB200300588 × We use cookies on our site to enhance your experience and serve up content that's relevant to you. By using our website, you're agreeing to the use of cookies. Privacy and Cookie Policy Accept Cookies