Seller Expenses
| Expense | General Cost | Equation |
|---|---|---|
| Mortgage Payoff, Home Equity Lines, Liens |
Mortgage balance + 1 month’s interest | |
| Realtor Commissions | 6% of sale price | 0.06 x sale price |
| Title Policy Existing Home* |
$100,000 - $719 $200,000 - $1,169 $300,000 - $1,619 $400,000 - $2,069 $500,000 - $2,519 $750,000 - $3,269 $1,000,000 - $4,019 |
(0.00375 x sale price) + ~350 |
| New Construction** | $0 | |
| Property tax, prorated | Annual Property Tax = ~1% of sale price | (0.01 x sale price) x (current day-of-the-year / 365) |
| Attorney Fees | $250 - 400 | |
| Termite Letter | $60 - 200 |
*Existing Home, seller pays: In Nashville, title policy must be paid by seller, and may receive 1/3 credit on the premium of the face value of the old policy if old policy is younger than 10 years.
** New Construction, buyer pays: Developers are exempt.