As you may already know–or not know, I’m always trying to figure out how to help clients and future clients with their real estate needs. Helpful Realtor® it almost sounds like an oxymoron (two opposites put together), but what the heck. Here’s another FREE tool for your arsenal.
As part of my service offering I provide all my sellers with a Net Sheet. Basically it’s a statement calculating approximate closing costs and net proceeds after the sale of the home. It’s not exact, but it does provide a better picture for my clients so that can make an informed decision about their real estate needs. With this tool, sellers can calculate their approximate closing costs on their own. Unfortunately, it’s a bit more involved to calculate buyers’ closing costs. As a rule of thumb, buyers should expect closing costs to run between 3-5% of purchase price. Condos and Co-ops are at the lower end and Single Family and Multi-Family on the high end. Most of the closing costs for buyers is comprised of Title Insurance, upfront Property Taxes, Mortgage Points, and Mortgage Tax.
So Here It Is:
**NOTE: If this is a Co-Op, the seller may incur an additional cost called a flip tax which must be included in closing costs.
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