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When selling a house, are realtor fees typically paid out of the sale proceeds or is it a separate payment?

Realtor fees are typically paid out of the sale proceeds, not as a separate payment, and can range from 2-3% of the home sale price per agent.

Sellers usually pay both the listing agent's commission and the buyer agent's commission, which can add up to 6% of the sale price.

Closing costs, including property taxes, capital gains taxes, and other fees, can range from 6% to 10% of the sale price.

The seller's profit from the sale is reduced by these commission fees and closing costs.

After paying off the existing mortgage, closing costs, and other expenses, the remaining proceeds from the sale go to the seller.

The seller typically receives their payment on the same day that the sale is closed, and the payment is usually made by the closing agent using the proceeds from the sale.

Realtor fee changes may be on the horizon, potentially affecting the traditional 6% commission split between buyer's and seller's agents.

Transfer taxes on selling a house are calculated as a percentage of the sale price, varying widely by state and city, with a median transfer tax in the US of $745.

Sellers may be able to exclude up to $250,000 of gain from their income (or $500,000 for couples filing jointly) if they've lived in the home for at least two of the last five years.

Capital gains tax rates depend on income, tax filing status, and the length of time the asset was owned.

Closing costs can include property taxes, which are typically prorated based on the number of days the seller owned the property.

In some states, sellers may receive their payment on the same day as closing, while in others, it may take longer due to "dry funding" laws.

Homeowners may be able to deduct mortgage interest and property taxes from their taxable income, reducing their tax liability.

Sellers may be able to deduct capital gains tax on real estate, but only if they meet specific criteria, such as using the profits to buy a new primary residence.

The capital gains tax rate can vary depending on the seller's tax filing status and income level, with higher-income sellers potentially paying up to 20% in capital gains tax.

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