What Costs Should You Expect When Selling a Home?

Selling a home isn't something most people do regularly, so if it's your first time—or if it's been a while—you might not be aware of the costs involved in a typical real estate transaction. Let’s break down the common expenses you can expect when selling your home.

Standard Selling Costs

Whether or not you work with a Realtor, certain fees are unavoidable. These include charges from the title company, escrow services, and the State of Ohio. Some of these fees are based on your home's final sale price, while others fall within a standard cost range.

In many real estate contracts, buyers and sellers agree to split title-related fees. However, buyers are typically responsible for their own lender costs. As the seller, you can generally expect closing fees to total around 1% to 1.5% of the sale price.

Property Taxes

Ohio property taxes are paid six months in arrears. For instance, the tax bill due in July 2025 will cover the second half of 2024. If you sell your home before that bill is due, the second half of 2024’s taxes will be deducted from your proceeds at closing. You'll also be responsible for a daily proration covering the time you've owned the home in 2025. These funds will either go to the buyer directly or be placed in an escrow account by the buyer’s lender to pay the upcoming tax bill.

Realtor Fees

If you decide to list your home with a Realtor, you'll also need to factor in brokerage fees. These fees compensate both the listing brokerage and your Realtor. You can also choose whether or not to offer compensation to the buyer’s agent—something you should carefully consider with your Realtor when creating a selling strategy.

Want a Personalized Estimate?

If you’re curious about the potential costs of selling your home—or if you'd like to know what your home is worth—Jennifer offers a Rightsizing Consultation. She’ll provide a detailed estimate to help you plan with confidence. Reach out to Jennifer at 440-371-2862 or visit jenniferherron.com.