For Sellers

Thinking about selling your New Orleans home? Here are some tips and advice from the pros on how to price, prepare and deal with the challenges of any real estate market.

Home Seller Closing Costs

Home seller closing costs

Photo by Andres Urena on Unsplash

Home Seller Closing Costs

Most conversations in real estate focus on buyer closing costs, but home seller closing costs are a real thing. When selling your New Orleans home, you can expect several closing costs that will reduce your net profit.

What home seller closing costs should you expect in New Orleans?

Mortgage payoff and cancellation fee

The title company handles getting the loan payoff from your mortgage company. A mortgage cancellation fee is paid to the conveyance office and passed along to you as a closing cost.

Prorated property taxes

Taxes are paid in advance in Orleans Parish and sellers get a credit at the act of sale. In all other parishes, the seller pays their portion of the annual property taxes based on the number of days in the year that they own the property.

Property transfer tax

In Orleans Parish, sellers have assessed a property transfer tax of $325 at closing.

Settlement and/or attorney fee

Part of selling your property is ensuring that the title is free of liens and encumbrances. To do this, the title attorney will perform an abstract and title review.

Broker marketing fee/commission

Of course, there are the Realtor commissions. Home sellers generally pay their listing broker a contracted commission and that broker then shares the fee with the buyer brokerage.


 

If you are interested in having us assist with your purchase, sale, or rental, please be in touch.
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