Pennsylvania Home Seller | Seller Closing Cost Calculator | Seller Net Proceeds

Looking for a PA closing cost estimate? Need to calculate the seller closing costs and net proceeds?  The PA Seller Closing Cost Calculator on the right will estimate your settlement costs and fees for a home in Pennsylvania; including the PA deed transfer tax and seller assist (if applicable). How much should you list your home for? The Seller List Price Calculator (right) will help you with your decision. Looking for information on Seller Assist? Click here: Seller Assist Information. Likely seller closing costs are listed below.

The Pennsylvania Real Estate and Seller Disclosure Act requires PA home sellers to provide the buyer with a property disclosure statement for all residential real estate transfers. The law requires the seller to provide the buyer with a signed and dated property disclosure statement prior to the execution of an agreement of sale. The disclosure statement itemizes a variety of issues regarding the condition of the home to the best knowledge of the seller. This form can be obtained online, or with the help of a real estate agent. Reference: UNRUH, TURNER, BURKE & FREES

Residential Lead-Based Paint Hazard Reduction Act of 1992

Home sellers are required to provide the buyer with a Protect Your Family From Lead In Your Home pamphlet. The seller must disclose any known information concerning lead-based paint or lead-based paint hazards and provide the buyer with a Lead Warning Statement. Additional information regarding the law and your requirements under this law can be found here: The Lead Disclosure Rule

Pennsylvania Deed Transfer Tax

Pennsylvania requires a deed transfer tax for property transfers. Think of it as sales tax on real estate. The State of Pennsylvania charges 1% of the sales price and the municipality and school district USUALLY charge 1% between them for a total of 2% (i.e. 2% X 100,000 = $2,000). There are exceptions (for example, parent to child). You should call your municipality for the correct transfer tax percentage; and make sure you add the Pennsylvania 1%. By custom, the buyer and seller split the cost. 1% to buyer, 1% to seller, however, payment by buyer or seller is dictated by the sales contract. Deed Transfer Tax Page

How much do Realtors® charge?

By law, the commission is negotiable. In most cases, you will only pay a percentage of the sales price when the home sells.

Seller's Closing Costs in Pennsylvania

Unlike the buyer, the closing costs for sellers in Pennsylvania are few, but can be costly. You can use the PA Seller Closing Cost Calculator to estimate the seller's closing costs in Pennsylvania. Here's a list of the likely closing costs

DEED PREPARATION

The seller will be expected to prepare a deed for the buyer. The cost will vary between closing attorneys and title insurance agents. Estimated cost - $100

DEED TRANSFER TAX

The State of Pennsylvania charges 1% of the sales price and the municipality and school district USUALLY charge 1% between them for a total of 2%. By custom, the buyer and seller split the cost. 1% to buyer, 1% to seller; however, payment is dictated by the sales contract. Some municipalities and/or school districts charge more or less. The prudent seller will always call the local municipality and or school district for the exact deed transfer tax.

DOCUMENT PREPARATION

Some closing attorneys will charge a document preparation fee in lieu of a deed preparation fee, however, some settlement companies/attorneys will charge a "doc prep" fee in addition to the deed preparation. Figure $200

NOTARY FEE - Self explanatory

OVER NIGHT FEE

If the seller has a mortgage covering the property, the settlement company may charge for over night mailing to payoff the mortgage. The cost, if charged will vary, estimate $20 (although it might be higher).

SETTLEMENT FEE

Most closing attorneys and title insurance agents will charge a settlement fee for conducting the closing. This fee will vary from 0 - $200. Estimate $100

DYE TEST TO MUNICIPALITY

In some urban areas, notably Allegheny County, the seller may be required to obtain a dye test. In past years, rain water from the gutters were channeled into the sanitary and storm water pipes. With the expansion of new construction, the sanitary and storm water systems became over loaded with the additional water. So some municipalities require home owners to obtain a "dye test". A dye pack is flushed down the commode and gutter and either a plumber or the municipality will open up the sanitary sewer and storm water access to see if the dye is entering either system. Needless to say, if there is discharge into these systems, the seller will be required to correct the discharge. The cost will vary. A prudent seller will contact the municipality if this is a requirement and cost.

DYE TEST TO PLUMBER

If necessary, estimate $100 - $200.

TAX CERTIFICATIONS & LIEN LETTERS

Are the seller's property taxes current? How much are the real estate taxes? The only way to know the answers to these questions is to contact the municipality and request a "tax certification letter". The closing attorney, settlement company or real estate agent will contact the municipality for this information.

Does the municipality have a lien on the home? Again, the only way to know for sure is to obtain a "no lien letter". The settlement company will obtain this information from the municipality. The charge for the tax certification and lien letter varies widely across Pennsylvania - anywhere from $5.00 - $200.

OCCUPANCY PERMIT

Some municipalities charge an occupancy permit, some do not. In some municipalities it's the responsibility of the seller, in other's it the responsibility of the buyer. Another question for the municipality.

REALTOR® COMMISSION

The real estate agent's commission is negotiable. Estimate 6%.

SELLER ASSIST

The home seller may be asked to pay a percentage of the sales price or flat dollar amount toward the buyer's closing costs. This cost is a reduction from the profit from the sale of the home.

HOME WARRANTY

The buyer may request a home warranty. The cost will vary, estimate $450.

PEST INSPECTION REPAIRS, RADON SYSTEM

If a pest inspection reveals infestation, the seller will be expected to treat the property. Cost . . . ? Some home buyers will obtain a radon inspection. If radon is present in the home, the buyer may request a radon system. Cost . . . ?

REAL ESTATE AGENCY FEE (Coordination Fee, Warehouse Fee, Administration Fee, etc.)

Some real estate agencies may require an additional fee up and over the real estate commission. This fee, if charged, can vary from $50 - $500. Estimate $200.

PENNSYLVANIA PROPERTY TAX PRORATON

At settlement, the real estate taxes will be "prorated". In short, any property taxes (local, school & county) that were paid by the seller for the time the buyer owns the property will be reimbursed to the seller. However, if the real estate taxes were not paid by the seller during their ownership, then the seller will be expected to pay this cost to the buyer. The seller will not pay the buyer's real estate taxes and visa versa. PA Proration Tax Calculator will estimate the tax proration.