Short Answer
Sellers typically pay real estate agent commissions, title insurance, transfer taxes, and any outstanding liens or prorated taxes. I provide a detailed net sheet before listing so you know exactly what to expect from the sale.
Understanding Your Seller Closing Costs
When you sell a home in Northwest Indiana, several costs are deducted from the sale price at closing. Here is what those costs are and how they affect your net proceeds:
| Cost | Typical Amount | Notes |
|---|---|---|
| Real Estate Commission | 5% to 6% of sale price | Split between listing and buyer's agent |
| Title Insurance (Owner's) | Varies by sale price | Protects the buyer, but seller typically pays |
| Transfer Tax (Indiana) | $0.55 per $500 of value | County-level tax on property transfer |
| Prorated Property Taxes | Varies by closing date | You pay taxes through closing date |
| Recording Fees | $100 to $250 | County recording of deed |
| Attorney Fees | $500 to $1,500 | Optional but recommended in some cases |
| Payoff of Existing Mortgage | Varies | What you still owe on your mortgage |
Estimate for a $400,000 home sale
- Commission (5.5%): $22,000
- Title insurance: $1,500 to $2,500
- Transfer taxes: $220 to $440
- Recording & misc: $400 to $700
- Estimated total costs: $24,000 to $26,000
- Estimated net proceeds (before mortgage payoff): $374,000 to $376,000
What is negotiable?
Commission rates are negotiable. Title insurance and attorney fees can vary between providers. Some costs, like buyer credits for closing costs or repairs, are negotiated as part of the purchase agreement.
I provide a detailed net sheet early in the process so you know exactly what to expect before we list. Visit my Selling Guide for the full picture.
Liz's Advice
I provide a net sheet early in the process so sellers know exactly what to expect. There should be no surprises at the closing table. Before we list your home, I will walk through every line item so you understand exactly how much you will walk away with.
I want you to feel confident, not pressured. Knowing your numbers upfront helps you make smarter decisions about pricing, offers, and negotiations.
Have more questions?
I would love to hear from you. Contact me at relizstate@gmail.com or call (219) 670-3704.