8. Agent fee
The nationwide common for agent commissions ranges between 5% and 6% of the house’s sale worth, and the vendor could must pay round 3% for the itemizing agent charge or round 6% to cowl each the itemizing agent and purchaser’s agent charge. It will depend upon the negotiation between the itemizing agent and the customer’s agent, or whether or not the vendor desires to supply to pay for the customer’s agent charge to assist the property stand out.
9. Unpaid house owner’s affiliation and condominium dues
The vendor should pay all excellent HOA or apartment dues. If charges are annual, Burnett shares that some sellers prorate the charge in response to the time of the sale, whereas others cowl the charge for the customer as a concession or deal sweetener.
10. Vendor concessions
Talking of concessions, it’s widespread for the vendor to owe cash at closing for financing objects they agreed to pay for through the negotiation course of in an effort to shut the sale. Examples of concessions embody money to cowl closing prices, mandatory repairs, and residential warranties. Burnett shares that it’s notably widespread for Georgia sellers to supply these region-specific concessions:
Termite bonds
Since termite points are widespread in Georgia, some sellers supply to pay for a termite bond, which works type of like a upkeep contract with a termite firm. The bond covers the price of inspections, therapies, and repairs for the size of the contract, sometimes one to 2 years.
The common price for a termite bond falls between $500 and $2,000. As a result of termite inspections sometimes price between $75 and $150, and removing charges vary from $225 to $2,500, many Georgia householders don’t suppose twice about buying a bond.
Flooding insurance coverage
In Georgia, flood insurance coverage is widespread for householders to buy, though it’s not required. The common price for a flood insurance coverage coverage is $888 per yr, although costs vary relying in your flood danger. Some sellers decide to pay for the coverage’s first yr to seal the deal.
