Selling a house in Denver metro - how much does seller pay in closing costs? (2015, insurance)

[simplefamily5]

Been a long while since we sold a home. I know the seller will pay realtors' commissions of around 6%. How much in closing costs do sellers typically pay here? Google-ing gets me varied results and we're not ready to talk with realtors yet. Thanks!

[cowboyxjon]

I don’t know what it is like now since the market is different, but I -think- when I bought my house in 2015, the seller split the closing costs with me. Obviously that was 5 years ago, so I think there are others on this forum who can chime in who have way more experience with this than I do. Maybe with how much of a seller’s market it is, maybe buyers are paying all of the closing costs now?

I know you said you aren’t ready to talk to a realtor yet, but I’m not sure why you couldn’t. When I sold my previous house in Denver, my realtor put together a plan, and commissions and closing costs (as in, are we paying half, are we asking the seller to pay them, etc) I believe were discussed as part of that. There was a nice breakdown of what to expect. In fact, I waited a few months after talking with my realtor before I put my house on the market, mostly because I had an offer on the house I was moving to fall through, so I had to keep looking and had to delay putting my house on the market. But he wasn’t pushy at all and the process was easy. I’m sure a realtor wouldn’t mind answering some questions like this and would understand that you aren’t ready yet.

[2bindenver]

I am a Realtor. I guesstimate 8% total. Depending on when you last refinanced and if you have an escrow account.

Commission
Closing fee
Loan payoff
Taxes for this year
Title insurance (per contract)
Recording release fee for mortgage satisfaction
Water and sewer escrow (for single family)
Hoa transfer fee
Hoa status letter
?

[simplefamily5]

Thanks so much guys, these answers are tremendously helpful!!

[LHS79]

Shop around- NO ONE pays a 6% commission anymore.

[Mystery123]

Originally Posted by LHS79

Shop around- NO ONE pays a 6% commission anymore.

Yes.
Look around for those who can sell for less.
For example,

Save with a Redfin Agent
When you sell your home with a Redfin Agent, no negotiation is needed. We believe in total transparency and charge every client the same amount. Instead of the standard 2.5%–3%, with Redfin you’ll only pay a 1.5% listing fee (1% in certain markets).** Plus, we never charge fees for services like professional photos and digital marketing.

[simplefamily5]

Originally Posted by Mystery123

Yes.
Look around for those who can sell for less.
For example,

Thanks guys. I'm going to have to look into this. The last two houses we bought/sold, we used realtors that did discount the commissions, but we were not happy with the level of service provided (not saying that's a direct correlation though). I will have to do more research if/when finding a realtor.

[himain]

Originally Posted by LHS79

Shop around- NO ONE pays a 6% commission anymore.

Be careful. You get what you pay for sometimes

[2bindenver]

I think average is closer to 5.5% total.

[sammy87]

I used the same agent to sell my old home and buy a new one. She did 2% on my sell and she got 3% on the buy. The buying agent still took 3%. I think its a huge rip off. The agents dont have to do much work with the way websites are. My agent had some take photos, get a MLS and took a cruise and it sold the day she got back. She really didn't do a whole lot or need to. But i think the standard is about 6%.