We all know how expensive buying a house can be, but it's easy to forget that sellers also have to pay their share of closing costs. In some cases, these fees can really add up, so if you're planning to list your Las Vegas home for sale, don't forget to factor in these closing costs for sellers:

Closing Costs for Sellers

Home buyers pay the larger share of closing costs, but sellers don't get entirely off the hook. In most cases, sellers end up paying between 6 and 10 percent of their home's value in closing fees. Generally, this isn't paid out of pocket but rather deducted from the profit on your home. But it's still a big chunk of change, so it's nice to know exactly where it's going:

• Title Insurance Policy: Sellers are typically responsible for paying the owner's title insurance premium. Title Insurance protects the new owner (as well as the lender) against any loss or damage from defects in the title or liens and encumbrances on the property.
• Transfer Taxes: State and local governments impose this tax on the transference of the title from one owner to another.
• Mortgage Payoff: The remaining balance on your home loan must be paid off at this time.
• Title Company Closing Fees: The Buyer pays these fees, which are typically around $350, unless the home is being purchased as a cash transaction, or using a Veteran's Administration Loan.
• Attorney Fees: In some cases, one settlement attorney will oversee the transaction between the buyer in the seller. In others, each party has their own attorney present, in which case the seller must pay his or her attorney's fee.
• Liens and Assessments: The seller must pay off any liens or assessments against the property, as well as any repair work that has not yet been fully paid off.
• Property Taxes and Association Fees: Property taxes must be paid up to the settlement date.
• Broker Fee: The real estate agent who has assisted you through the home sale process will collect the agreed-upon commission at this time.

Ready to learn more about selling your home in the Las Vegas area? Our real estate agents are here to help.

Contact Wardley Real Estate to find an experienced agent who can help you through the process of selling your home. Closing costs can take a big bite out of your home sale profits, which is why we're dedicated to helping you get the most out of your home.