Seller Closing Cost Calculator for Virginia
Jump to section: Seller closing cost calculator for Virginia | Breakdown of closing costs for sellers in Virginia | How to save on Virginia seller closing costs | FAQ
Our Virginia closing cost calculator can give you an informed estimate of how much your net proceeds will be. Your final sales proceeds will depend on factors like market, purchase price, and realtor commissions.
Seller closing cost calculator for Virginia
Closing costs for sellers in Virginia
🔍 Closing Cost | 💰 Amount |
|---|---|
5–6% ($19,866–$23,839) | |
State grantor tax ($0.50/$500 property value) | 0.10% ($397) |
Additional grantor tax in Northern VA ($0.10/$100 property value, minus liens) | 0.10% ($397) |
$50–$100 | |
$150–$500 | |
Varies | |
$300–$600 | |
$35–$45 | |
Varies | |
$50–$150 | |
15% ($39,732) | |
Amount calculations based on median home price of $397,315 | |
Realtor commission fees (5–6%)
Real estate agents get paid 5–6% in commission when your house sells, and those commissions come from the home sales proceeds. Traditionally, the agents split the commissions 50/50 (2.5-3% each). But low commission real estate agents who accept smaller fees are becoming more popular.
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Grantor tax/seller transfer tax (0.10–0.20%)
The Commonwealth of Virginia imposes a grantor tax on home sellers and a transfer tax on home buyers. This tax excludes liens, meaning you won’t pay the tax on any mortgage payoff portion. The grantor tax rate doubles in Northern Virginia.
On top of that, Virginia and most of its counties or cities also charge recordation taxes. But the buyer generally pays for those.
Courier fees/delivery fee ($50–$100)
The settlement company may use a courier service to deliver documents to the courthouse. That can be a separate charge or included in the deed preparation cost.
Deed preparation ($150–$500)
In Virginia, sellers typically pay a real estate attorney or title company to prepare the new deed in the buyer’s name. Specific language and information (legal property description, PIN, etc.) are required for accuracy and legal compliance.
Homeowner association fees
You’ll need to settle any outstanding fees and fines if your home has a homeowner’s association (HOA). Those may include service fees for things like lawn maintenance and trash service. Dues should also be current. You may need to pay a prorated amount at closing. Other potential charges include an administrative fee for transferring to the new owner and a resale package expense.
Home warranty ($300–$600)
Existing home warranty fees must be current before transferring the property to the new owner. Sellers occasionally purchase a home warranty for the buyer and pay the first year's premium. It gives your buyer peace of mind that the major systems and appliances are warrantied for that initial year.
Mortgage release fee ($35–$45)
A mortgage release fee applies if your home has a mortgage balance or home equity line of credit (HELOC). In this situation, a lender has a lien on your property through a Deed of Trust. The title company charges you for the process of releasing the lien and proper documentation of the lease with your county’s Land Records department.
Real estate tax proration
Most Virginia counties bill property taxes in arrears after the year is over. You’ll owe taxes on your home when you sell, but only for the time you lived there before the closing date. Sellers pay that prorated amount to the buyer at closing. For example, if you close on April 10, you’ll owe three months and ten days of prorated property taxes.
Termite treatment ($50–$150)
You’ll need a termite inspection if insect infestation is suspected. Any resulting necessary treatment is usually the responsibility of the seller, to be completed with a treatment report before settlement.
You can choose the company to shop around for a reasonable price, and the expenses are ordinarily included in the seller’s closing costs at settlement.
FIRPTA (15%)
When the seller is a nonresident foreign person, the settlement authority or buyer must withhold 15% of the purchase price as a tax to pay the IRS. This is required by the Foreign Investment in Real Property Tax Act (FIRPTA).
This only applies to sellers who are non-citizens, individuals without a green card, and individuals without a substantial physical presence in the United States. Exceptions apply to homes purchased for less than $300,001 to be used as the buyer’s primary residence. An IRS withholding certificate also creates an exception.
How to save on Virginia seller closing costs
Sell with a low commission realtor
After reviewing your potential closing costs, you realize that the biggest expense appears to be agent commissions. Fortunately, that’s an area where you have some leeway. You can put more sales proceeds in your pocket if you list your property with a low commission agent.
Clever Real Estate can match you with professional agents who will list and help you sell your home for a flat $3,000 listing fee or only 1.5% commission.
Negotiate closing costs with the buyer
Some of your closing costs are assigned to the seller merely because it’s customary. But there’s no reason a motivated buyer cannot assume some of those costs. Negotiation is critical here, so talk to your realtor about this option.
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Virginia closing costs FAQ
In Virginia, the average seller’s closing costs are about 0.9% of the sales price. That’s $3,578 on a $397,315 home (which is the Virginia median house value). Realtor commissions can cost you another 5–6% with a traditional real estate agent. Learn how to save more on realtor commission.
The buyer and the seller pay transfer taxes in Virginia but at different rates. Sellers pay a 0.10% state transfer tax (called grantor tax). In Northern Virginia, sellers will pay an additional 0.10% (0.20% total).
Buyers pay a state transfer tax equal to 0.25% of the purchase price. Their city or county governments may also assess a transfer tax, usually about one-third of the state rate (0.083%).
The seller pays some closing costs in Virginia. But the responsibility for a few of those expenses is negotiable with the buyer. The seller also pays the commissions of both the buyer’s agent and their selling agent. However, most of the closing costs are loan-related, meaning the buyer customarily pays a great deal more than the seller at settlement.