What goes into your net proceeds
- Mortgage payoff: the balance on your loan (and any home equity line), plus a few days of interest. Your lender's payoff letter has the exact amount.
- Commissions: what you agree to pay your listing agent and, if you choose, toward the buyer's agent. All negotiable.
- Georgia transfer tax: $1 per $1,000 of the sale price.
- Prorated property taxes: your share of this year's taxes, credited to the buyer at closing.
- Closing attorney and fees: the seller's share of attorney, document and courier fees.
- Repairs and buyer credits: anything you agree to fix or contribute after inspections.
Common questions
What costs does a seller pay in Georgia?
Typical seller costs include paying off the mortgage, agent commissions, the Georgia real estate transfer tax, the closing attorney's fees for the seller, prorated property taxes for the part of the year you owned the home, and any repairs or closing cost help you agree to give the buyer.
How much is the Georgia transfer tax?
Georgia's real estate transfer tax is $1 for every $1,000 of the sale price, so about $450 on a $450,000 home. It's customarily paid by the seller.
Are real estate commissions negotiable?
Yes. Commissions are always negotiable, and whether and how much the seller offers toward the buyer's agent is agreed separately for each sale. Change the percentages in the calculator to match your situation.
Why are property taxes deducted?
Georgia property taxes are usually billed and paid at the end of the year. At closing, the seller typically credits the buyer for the taxes covering the part of the year the seller owned the home.
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