Silicon Beach Properties

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Closing Costs - Sellers

There are certain standard costs associated with transferring a property in Silicon Beach. Some of these fees are split between the buyer and seller, as spelled out in the purchase contract. The cost split on these fees is, to an extent, negotiable.

As we negotiate the purchase contract on your behalf, we will strive to achieve not only the selling price that you want, but to also limit the number and amount of closing costs for which you are responsible.

Standard Closing Costs

Tax-Related Costs:
  • Prorated property taxes if unpaid (rebate if prepaid)
  • Capital gains taxes
    • Rule of thumb - if your sale profit exceeds $250K for one seller or $500K for two sellers, you will be taxed on the gain
    • You get to deduct sale costs and all property improvement costs during ownership, so get your paperwork in order
Insurance-Related Costs:
  • Owner's Title insurance
Other Costs:
  • 50% of escrow fees
  • Brokerage commissions
  • Natural Hazards Report
  • Recording fees
  • Termite remediation, if requested and agreed to
  • Property repairs, if requested and agreed to
  • Pre-payment penalties on an existing mortgage, if applicable
  • Transfer fees:
    • city transfer fees
    • city report for buyer
    • retrofitting toilets, smoke detectors, water heaters and carbon monoxide detectors, if necessary
    • county transfer fee
    • title recording fee
  • Home warranty for buyer (if requested in contract)
  • Moving expenses
A rough rule of thumb for guesstimating your costs to sell a Silicon Beach property is 1% of the sale price for general closing costs + 5-7% for brokerage fees + any repair costs agreed to during escrow.

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