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Glossary

Glossary

Seller costs

It is important to consider all of the costs involved in selling your home. These can add up and will often depend upon your individual circumstances. The costs you may incur include:

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PREPARATION & PRESENTATION

Repairs and upgrades: Costs are dependent on the condition of your property and will vary significantly. Staging and furniture rental as needed.

Marketing Closing Costs

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Agent commissions

Transfer taxes if applicable

Title insurance policy

Unpaid liens that must be satisfied

Water and sewer transfer

Escrow and closing services

Prorated property taxes

Home Warranty if applicable

Homeowner's Association fees

Closing Cost Credits / Seller Concessions: This typically occurs when a buyer asks you to contribute towards their closing costs, or to buy down their interest rate. You may also decide to give the buyer a credit to cover a repair requested in an inspection objection, rather than completing and paying for the repair yourself.

Other Financial Commitments

Loan repayment and fees: When paying off your mortgage loan, be aware of any potential fees from the lender.

Moving costs: Factor in packing and travel costs / moving services, and time off from work, etc...

Accommodation / Storage: If you are not able to move straight into your new home, allow for the cost of temporary accommodation and self-storage.

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