Need To Sell A Property Fast In Martinsburg WV?
Here at YNP Home Solutions we pride ourselves in helping sellers all across the Tri State Area. If your dealing with a problem property, nasty divorce, an unwanted inheritance or some other issue that has caused you to have to sell your property, your not alone and you have options! Today’s video comes from a series of FAQ’s that we received from sellers throughout 2019, “How much are my closing costs?”
Remember, if you need to sell a property in Martinsburg or any other area of Berkeley county WV…don’t wait, don’t delay, give YNP Home Solutions a call today! Visit our Facebook and YouTube pages as we post regular content and videos there as well. Simply search for YNP Home Solutions!
Video Transcription
Hey everybody. It’s Brooks with YNP Home Solutions, your local family owned home buyer right here in the Tri-state area where we buy property in all of Berkeley County, West Virginia, all of Franklin County, PA, and Washington and parts of Frederick counties of Maryland. So today we’re going to continue along in our video series of the top most frequently asked questions that we were presented throughout 2019. Last week we talked about the overall process. Today we’re going to dive into what kind of cost can I expect to have to pay or what costs are associated for me as a seller during this process. But before we dive into that one, I want to just thank you for spending a little bit of time here with us today.
But also if you know of anyone who maybe has a property or needs to sell a property in the Tri-state, be sure to share this video with them or let them know how they can reach us. You can find us on YouTube where you may be watching this here today or on Facebook, certainly online at YNP Home Solutions. Or give us a call, (240) 244-3953. So let’s just dive into a guys. Today’s topic is, What Kind of Costs Are Associated For Me as the Seller? And I’d like to start off describing what the customary costs are associated with any real estate transaction, right? So you have the attorney or title company fees. Those are usually about the only ones. And then obviously if you have a mortgage payment that is owed, it needs to be paid off. There can be back taxes owed and that amount could vary greatly.
There could be a mechanics lien, right? Meaning somebody maybe came and worked on your property, maybe you didn’t get around to paying them. So those are really the only kind of customary liens and or costs that you would face. But I want to be really clear about what you have to pay for. Okay? So we pay all of the closing cost associated with the sale pertaining to the attorney and or title company depending on what state we’re in. Those costs tend to be between $1400 and $2600 for both sides (Yours and Ours). We pay their fees for us and for you. All right? Here are some other fees that may come up, okay? In Pennsylvania, there’s what’s called a transfer tax and it’s customary that the buyer and seller split those fees. That is something that we could negotiate or discuss if it means getting the deal done.
So that’s something that you would be responsible for if we didn’t discuss it in length or agree to pay it, if you’re in PA, you would have to pay your part. It doesn’t apply in Maryland or West Virginia, Pennsylvania is the only state I believe that has that transfer tax. I could be wrong, but it comes up on most of the PA properties. Back taxes or liens, Okay? This comes up frequently. Typically what happens with a back tax situation or a lien is whatever price we’ve agreed upon, the back taxes or the lien come out of your proceeds check. Quick example, say you owe $2,000 back taxes, we agree to pay you $30,000, you would end up with $28,000 after the taxes were paid.
Again, that is a negotiation point where we could have that discussion when we’re talking about price with you prior to coming to close. So you may come and say, “Hey listen, I’d really appreciate it if you guys can pay the back taxes. Would you be willing to do that?” And that’s something that we could further discuss. It just may be another layer of negotiations. But your traditional fees, your attorney fees, and your title fees, we pay for you and for us. We pay both sides of those. Okay? So all traditional closing fees, we take care of.
Hopefully that helps guys, if you have any other questions about it, be sure to reach out to our team. Again, you can reach us at YNP Home Solutions on Facebook, online, or just give us a call, (240) 244-3953. Someone from our team can better answer those questions if this was in any way unclear. Just trying to keep this short because we pretty much cover all the costs. So hopefully this was helpful to you.
Next week we’re going to be talking about, do I need to make any repairs and can I leave any stuff behind? So that’s next week’s topic. But again, Don’t wait. Don’t delay, if you have a property here in the Tri-state area that you need to sell, give YNP Home Solutions a call today. You can reach us again at (240) 244-3953. Thanks.