What Are Closing Costs Exactly In Waldorf MD?

What Are Closing Costs Exactly In Waldorf

We buy houses in Waldorf Maryland. As local home buyers in Waldorf, we know a thing or two about closing costs. Closing costs can really add up and are often something you want to include in negotiations whether you are buying or selling a property in Waldorf MD. You’ve likely heard about closing costs, but do you know everything that they include? Check out our closing cost “FAQ” to learn more about what closing costs are all about.

What Are Closing Costs Exactly In Waldorf MD?

Closing costs refer to all of the fees that must be paid at the closing table. Depending on where you live, the fees and costs can vary. But generally, closing costs include, but are not limited to:

  • Notary fees
  • Transfer Costs
  • Transfer Taxes
  • Appraisal Costs
  • Inspection Fees
  • Origination Fees
  • Recordings Fees
  • Title Insurance
  • Underwriting Fees
  • Bank Fees
  • Courier Fees
  • Wire Transfer Fees
  • Liens against the home will need to be paid to clear the title
  • Credit Report Fees
  • Administrative Fees
  • Attorney Fees, If Applicable
  • The balance of your mortgage or loans against the home
  • Possibly repairs or pest control if this has previously been agreed upon
  • COMMISSIONS! — Note: Check out this article about the cost of listing with a real estate agent.

Who’s Paying In Maryland?

While the buyer will usually pick up a number of theses, it is important to note, that the seller typically pays 100% of the commission. This will be about 6%+ of the final sale price. Other than your possible mortgage balance, this is by far the biggest cost when it comes to costs at the closing table. Negotiating the other costs during the sale process is becoming increasingly popular. In an effort to lure in more buyers, sellers are more frequently picking up the tab when it comes to the closing costs.

As a seller, you will also need to pay your share of the year’s property tax, up until the day of closing. Any HOA fees or other community costs should be prorated and paid at this time as well.

What Are Seller Subsidies?

This is an amount negotiated between the buyer and seller. It is the percentage the seller agrees to pay towards the closing costs. For example, you can offer to put 3k towards closing to help relieve some of the costs for your buyer. Overall, paying these subsidies are often a small price to pay to bring buyers to the table!

Can You Avoid These Costs In Waldorf MD?

Yes! By working with a direct buyer who will pick up all costs associated with the closing! A direct buyer will not charge you a commission, as they are not an agent. Many times, direct buyers will offer to pick up all costs, which will save you money and hassle at the closing table.

Are Repairs Included?

This is another one that is negotiated between the buyer and the seller. If the home is in need of some obvious repairs, the seller will often take care of these before putting their home on the market. However, if an inspection shows additional repairs are needed, a buyer may make his offer contingent on repairs being made. A buyer and seller can work this out before going to closing.

We Buy Waldorf MD Houses

We buy houses in Waldorf MD. Are you looking to sell your home in Waldorf MD? The House Guys cover all closing costs including taxes when we buy houses. You also won’t need to worry about things like assessed value vs. market value. This enables you, the seller, to come to closing with $0 and walk away with cash in your hand, your house sold, and peace of mind. Closing costs can really add up, so by us paying for all closing costs, we can ensure a hassle free, on time closing. If you would like to learn more about the selling process or if you have any questions about selling your Waldorf home, give us a call! (571) 207-5171

Get More Info On Selling Your Home Fast...

Selling a property in today's market is competitive. Connect with us or submit your info below and we'll help you sell your house fast.

GET YOUR CASH OFFER NOW

  • This field is for validation purposes and should be left unchanged.