When you accept an offer on your home there are some costs you as a seller will need to consider.  Though they are not as extensive as what a buyer will pay you will want to keep these in mind when you are deciding on which offer to accept.  When we go over the offers on your home together, I will have a Seller's Net Proceeds Estimate form with these cost on it.  I do want to emphasize that this is an estimate.  Approximately two business days prior to closing you will get a Closing Disclosure Statement of your cost and net proceeds.  This is the form that will have the exact numbers.  It is important to remember that this Closing Disclosure Statement is written from the perspective of the buyer.  Thus, anything that says credit is a credit to the buyer, and a debit toward you the seller.  That will be very important especially as we go through costs below.

1. Commission:  I know, obvious, right? But it will show up in your final cost.  This is 6% of the final sales price, and a broker fee.  Usually between $200-$300 depending on the broker (Berkshire Hathaway Homesale is $245.00 for sellers.).  Even though this is one flat fee.  On the closing disclosure it will often already be separated into the amount that goes to each real estate broker involved.
2. Sellers Assistance: With many loans buyers are able to request a certain percentage of the sales price, capping at 6%, in assistance from the seller to put toward their closing cost.  A conventional loan that puts less than 20% down can request up to 3%, if a buyer puts down 20% on a conventional loan they can request up to 6% in sellers assistance. Using an FHA/USDA loan a buyer can request up to 6%, and with VA they can request 4%.  If you choose to give the buyer seller''s assistance this will be on  the Closing Disclosure as part of your closing costs.  This is where it can sometimes get tricky, because this will often show up as a credit; however, you need to remember that the Closing Disclosure is written from the buyer's perspective, so it is a credit to them a debit to you.
3. Property Taxes: Depending on the time of year we close in these may or may not be paid in full.  Either way they will be prorated.  You the seller will pay for any taxes up to and including the day of settlement. The buyer will begin paying the next day.
4. Transfer Tax:  Yes, the Commonwealth of Pennsylvania will take their cut.  In this case it is 1% of the sales price that you the seller will owe in transfer tax.
5. Deed Preparation, Notary, and Tax Certifications:  In Pennsylvania the seller will pay for deed preparation which is usually around $150.00, and a Notary fee which usually will be $50.00, tax certification will be between $50.00-$75.00.  There may also be a wire transfer fee of $20.00-$25.00 depending on the settlement company.
6. Mortgage Payouts/Liens:  Per PA Real Estate Contracts, properties must be transferred clear of liens.  If there are any liens against your property you will need to pay these off at closing. The settlement company will order a payout statement from your lender of the total amount of money you will need to pay off your mortgage.  With back interest, and things in escrow it is a good idea to take the balance of the last mortgage bill you paid + 1 months mortgage + $500.00, and that is a solid estimate of what you mortgage payout will be.

So there you have it.  These are the common things that a seller will pay at closing.  Of course every situation is different, so there may be a fe extras here and there, but for the most part this is what you will be looking at when you come to the settlement table.