Princeton Town Topics – Let’s Talk Real Estate – July 19, 2023
NAVIGATING THE MAZE OF CLOSING COSTS: A SELLER’S GUIDE IN NEW JERSEY
Selling a home can be a rewarding experience, but it’s crucial to be aware of the various costs that come with the territory. For sellers in New Jersey, understanding closing costs is essential for a smooth transaction.
Closing costs typically range between 6% to 10% of the home’s sale price. These expenses can include real estate agent commissions, attorney fees, withholding taxes, transfer taxes, and recording fees. Sellers should also prepare for potential negotiation on certain costs, such as home inspection repairs and credits to buyers.
To minimize surprise expenses, sellers should seek guidance from experienced real estate agents, attorneys and accountants familiar with New Jersey’s regulations. Proper planning and budgeting will empower sellers to confidently navigate the closing process and successfully hand over the keys to their cherished property.
