Seller Closing Costs for Pennsylvania & Net Calculator
page explains the operation of the
Pennsylvania Seller Closing Cost & and net proceeds calculator.
The home sale calculator will give you a good estimate of the cost to
sell your home in Pennsylvania and help you determine the appropriate
sales price to arrive at your desired "net" amount. After entering the sale
price, you can use the Net To Seller box (column B) to recalculate the costs
from column A to achieve the desired net
to seller. The PA Home Seller
Calculator estimates the listing price.
||Enter the sales price (i.e. $200,000) in the box on column A and click outside the box.
After completing the form, the net for the sale will appear
below the sales price.
||Broker Services - Line 1
Some real estate agencies charge a flat fee in addition to the
real estate commission. This fee travels by a variety of names,
like, administration, record retention, etc.
DEED TRANSFER TAX - Line 3
Pennsylvania and the various municipalities charge a transfer
tax on property sales. The state charges 1% of the sales price
and "most" municipalities and school district together charge 1%
together for a total transfer tax of 2%. For example, sales
price is $100,000 X 2% = $2,000. By custom, buyer & seller split the cost.
The default setting is 2%, split 50/50. For more information
on the deed transfer tax please refer to the
DEED TRANSFER TAX EXCEPTIONS:
There are exceptions to the transfer tax, some municipalities charge more than
1%. If you see the municipality of the house on line 4, choose it.
The drop down box lists the "known" deed transfer tax
exceptions. Always check with the local tax collector for the
current transfer tax percentage. There can be errors in the
||Sellers, expect the home buyer to request a home warranty,
||There are two real estate commission options
if a real estate agent is handling the the sale. If the agent is
charging a percentage of the sale, use the drop down box on line
10. If however, the agent is charging a flat dollar amount like
$5,000, enter that amount on line 11. The flat dollar amount
over rides the percentage calculation.
||It's common these days for the buyer to ask
the seller to pay a percentage of the sales price to the buyer's
closing costs. As with the real estate commission, you have two
choices, a percentage calculation of the sales price using the
drop down box on line 12 or a flat dollar amount on line.13.
||Lines 14 to 23 are self explanatory
|You ran the numbers and are depressed by the
net amount (every seller is). You really need to "net", $30,000.
How do you do that? Simply enter $30,000 into the Net to Seller
box in column B and all those cost from column A will
recalculate to give you a net to seller of $30,000. Notice that
the sales price will have to be $211.143 to achieve the new net
amount. You can print either column A or B using the buttons.
Click on the PRINT SCREEN link to take you you to the print
||Agents, you can enter the name of your
agency, phone number and your contact information. Click on the
Seller Estimate link to return to the previous screen.