Daily Camera (Boulder)

What closing costs to expect when selling a home

Closing costs are like the forgotten stepchild in the real estate transactio­n. Buyers concentrat­e on the down payment and the purchase price, while sellers envision that check they’ll receive at the closing table.

Lots of people, however, have their hands out, expecting to be paid for their services and they will get their pound of flesh at closing. In all fairness, it takes a village, all working together, to bring a real estate transactio­n to a successful close. None of the villagers, by the way, works for free.

Seller’s closing costs

The closing process is simpler for the seller than the buyer, yes, but not less expensive. In fact, expect to pay up to

Well Maintained, 1,788 sqft with 4 BD, 2 BA, bi-level home in Upper Table Mesa. Remodeled kitchen with granite counters. Open floor plan, hardwood floors, large deck for entertaini­ng, lower level family room. 6 percent (or more in some areas) of the purchase price at the closing table. Now, closing costs vary, depending on where you live, but here’s a short list of what you may be required to pay out of your proceeds from the sale of the house:

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Loan payoff

Pre-payment penalty (if your loan has one)

Recording fees

Title insurance fees

Attorney’s fees, if you use one

Liens against the home

HOA fees and dues in arrears

Real estate commission­s (for both your broker and the buyer’s) Pro-rated bills, such as utilities and sanitation.

Pro-rated property taxes and insurance (property taxes are prorated to the date of recordatio­n) Transfer taxes, if required in your region

Any credits granted to the buyer

Again, the total amount deducted from your proceeds will vary

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Outstandin­g, updated Martin Acres 2,672 sqft, 3 bed, 2 & 1/2 bath ranch with amazing views and a full basement with separate entrance & ADU potential, located on a 9,000+ sqft profession­ally landscaped lot close to parks & schools. depending on various factors.

If you have an FHA buyer

FHA requiremen­ts dictate which closing costs buyers will pay, and the tax service fee is one that the seller is on the hook for. Although this isn’t a large expense, it is typically not found in a convention­al loan closing.

FHA also has different appraisal requiremen­ts, and if your home doesn’t satisfy these safety and security standards, you may be required to make repairs before the loan can close.

For more detailed informatio­n, you

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Largest original floor plan in Martin Acres! 5 BD, 3 BA, 2,800 sqft ranch style home features profession­ally landscaped lot with water feature, remodel kitchen & baths, freshly painted inside & out, refinished hardwood floors & more! can read the Department of Housing and Urban Developmen­t’s Guide to Settlement Costs on HUD’S website.

Rob Proctor is the Broker/owner of At Home Real Estate Company in Loveland. Born and raised in Loveland, Rob calls Northern Colorado (Loveland, Fort Collins, Greeley and Windsor) his home with his wife and three daughters. To contact Rob, call 970.481.2133, e-mail rob@athomereal­estateco.com or visit athomereal­estateco.com.

Beautifull­y appointed home in Upper Table Mesa with views. This 4 BD, 3.5 BA, 2,568 sqft, sits at the foot of the Flatirons, near Viele Lake & S. Boulder Rec. Top-ofthe-line kitchen, large living room with gas fireplace, and luxurious primary suite!

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