- Commission
- $15,000
- Property tax credit to buyer
- Pick a closing date
- Total costs and payoffs
- $165,000
- Estimated net proceeds
- $135,000
An estimate. For your title and settlement figures, request a title quote.
The property tax proration
Kansas and Missouri property taxes for a year are paid after the year has started, so the seller typically credits the buyer for taxes from January 1 to the closing date. In Kansas, if you close before the second half of last year's tax is due on May 10 and it's unpaid, it's paid at closing too.
Seller costs to include
- Mortgage and home equity payoffs
- Commissions, if any
- Concessions toward the buyer's costs
- Your share of title and settlement fees, including the owner's policy if your contract assigns it to you
Common questions
What is a good estimate for seller closing costs?
Payoffs and commissions are the biggest items. Use the net sheet with your real numbers, and request a title quote for the title and settlement figures.
Can a seller refuse to pay closing costs?
Yes, unless the contract says otherwise.