You’ve likely heard about closing costs. But do you know everything that these costs include? Because if you need to sell your house in Gauteng fast, we can help without having to list your house, do repair, or pay agents, even when you are facing difficult situations.
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:
- Bond Cancellation Fees
- Rates and Taxes Clearance Certificate
- Levies
- Compliance certificates
- Appraisal Costs
- Repairs and Maintenance
- Bank Fees
- Courier Fees
- Wire Transfer Fees
- Liens against the home will need to be paid to clear the title
- Home Inspection 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!
Who’s Paying For The Costs Of My SA Home?
While the buyer will usually pick up a number of these, it is important to note, that the seller typically pays 100% of the commission. This will be about 6% or more 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 investors, 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 levies fees or other community costs should be prorated and paid at this time as well.
Can You Avoid These Costs In SA?
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 When I Sell My SA Home?
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 purchaser may make his offer contingent on repairs being made. A buyer and seller can work this out before going to closing.
We Are Local Connecticut Home Buyers
We purchase homes fast without including agents or realtors. This means that when we acquire your home there is virtually no cost to sell your home, no repair cost, no holding costs, no closing costs, and no agent fees. We offer cash for houses in South Africa and we can close on your schedule. Give us a shot and see how much we can offer for your property. Sell your house in SA to us now.
