A common question I get is "how much does it cost me to sell my home?". It's very common for these costs to be between 4 & 7 percent of the homes sales price. Once you receive an offer or even when you sign your listing agreement with your Realtor, ask for a Estimated Net Proceeds worksheet to give you a good idea of all the costs that will be deducted when you close.

Here are some of the general costs you will encounter:

1.Mortgage Payoff Balance: These include 1ST & 2ND mortgages and/or equity lines of credit. Call your lenders for an accurate payoff amount.

2.Lien Release Document: Liens on your property for money owed on property taxes, court judgements or liens from contractors.

3.Recording Fees: If you owe money on the property, this fee covers the costs to show your debts have been paid in full.

4.Commissions for Listing & Selling Agents: This is generally 6% or less depending on what you negotiate with your agent.

5.Notary Fees: This fee is charged by a notary to verify your identity and make sure all documents are executed properly.

6.Escrow Fees: The escrow company is the intermediary between you and the buyer and they make sure the money is handled properly. These costs may be split between you and the buyer.

7.Seller Concession: If you and the Buyer agree to cover a percent of the closing costs on the purchase, this amount is added to the selling price and you then give back the amount to the seller to pay for closing costs.

8.Repairs: If required by the Buyer or as a condition of the lender.

9.Home Warranty: Sometimes the buyer will require a warranty that covers the home for the first year that they are in the home.

There are of course other possible costs with selling your home so you will want to ask your Realtor about them early on in the process. It's always nice to limit the surprises as much as possible.