How Much Are Closing Costs in San Antonio

Costs of Selling a House Posted on December 1, 2019 Posted by Will

The closing costs for real estate transactions can add up fast to huge amounts that come directly out of a
seller’s pocket. However, what is all this for and why is it necessary? Can it be reduced? When selling a
home, how much are closing costs in San Antonio going to be? At FixerUpper4Cash, your San Antonio cash home
buyer, we’ve purchased quite a bit of real estate and provide answers to those questions and more below.

How Much are Closing Costs in San Antonio?

Let’s start off by giving closing costs a simple definition – closing costs refer to all fees that must be
paid to the title company in order to finalize a real estate transaction. These fees typically include, but
are not limited to:

• Notary fees
• Transfer Costs
• Transfer Taxes
• Appraisal Costs
• Inspection Fees
• Origination Fees
• Recordings Fees
• Title Insurance
• Underwriting Fees
• Bank Fees
• Home Repairs
• Courier Fees
• Wire Transfer Fees
• Liens, if applicable (e.g. unpaid property taxes or contractor’s lien for unpaid work)
• Credit Report Fees
• Administrative Fees
• Attorney Fees
• The balance of your mortgage or home equity loans
• Possibly repairs or pest control if this has previously been agreed upon
• Realtor Commissions (boooo!)

Who Pays For Closing Costs?

The seller is typically on the hook for paying the closing costs that matter most. The phrase “matter most”
includes the highest cost items like mortgage balances or home equity loans, tax/vendors liens, and realtor
commissions. How much are closing costs in San Antonio when, for example, you sell your house for $200,000 and
that house has a mortgage balance of $125,000 plus a home equity loan of $25,000 you get a total payoff
balance of $150,000. Once you add in the 6% realtor commission of $12,000 (remember, 6% of the sale price),
you would receive approximately $38,000 at the closing table. This is somewhat of an elementary example
because there are going to be some other but smaller closing costs to account for like pro-rated property
taxes, wire transfer fees, and attorney fees but you can use this scenario to calculate your approximate
payout within about 5% or so.

The buyer will typically be on the hook for the other items but note that in may be in your best interest to
try to negotiate some of these costs, specifically who pays the realtor commission. We never advise trying to
negotiate a reduction in their commission because it just screams that you do not value them and thus they
will not value you which could lead to their performing sub-par when marketing your property and negotiating
on your behalf. We instead recommend that you negotiate with the buyer for them to pay 1-3% of the realtor
commission. If successful, when calculating how much are closing costs in San Antonio, you would net an extra
$2,000-$6,000 on a home sale of $200,000.

What Do Seller’s Subsidize?

For anyone who does not frequently deal in real estate transactions, you might be wondering – what in the
world are seller subsidies? Simply stated, this is an amount negotiated between the buyer and seller that the
seller will pay toward the buyer’s closing costs. This is standard in almost all real estate transactions and
is something you must account for when calculating how much are closing costs in San Antonio. For sellers, the
bottom line here is – expect to pay something but be prepared to negotiate just how much you will pay. For
reference, it’s common for buyers to ask sellers to pay about $5,000; if you negotiate down from that then
you’re ahead of the curve.

Who Pays For Home Repairs?

When we have sold homes there has never been a sale go thru without the buyer having some sort of repair
addendum that they make a condition of their purchase. Luckily, repairs are all about negotiation. As a buyer,
we recommend you request that the seller make and pay for all repairs (obviously, the converse is true if you
are a seller). If both parties does not agree to making and paying for the repairs, then it is best to ask
yourself what you’re primary objective is in buying or selling the home. If you’re a seller and need to move
fast, then time is the most critical factor and it’s probably worthwhile to reduce the sale price by the
estimated cost of the repairs. If you’re a buyer and need to move fast, then time is also the critical factor
BUT we recommend that the seller pay at least 50% of the estimated repair cost (by reducing the sale price).
If the seller will not, then we recommend that you find another home to buy because it is never a good idea to
purchase a home for more than it is actually worth. Using these recommendations will help to ensure that when
calculating how much are closing costs in San Antonio, you will end up with equity in the home instead of you
owning a home that is underwater.

Can I Avoid Paying Closing Costs?

As noted throughout, just how much are closing costs in San Antonio can add up quickly. There is another way
to sell your home in San Antonio fast AND without having to pay all the closing costs. The answer is working
direct with a cash home buyer like FixerUpper4Cash – we buy houses San Antonio in any condition and no matter
the situation. Best of all, we’ll pick up a lot of the closing costs and we guarantee you won’t have to pay
that pesky 6% realtor commission!

Want to learn how FixerUpper4Cash will save you thousands of dollars? Contact us today for multiple offers in
just 2-hours + we can close in as little as 7-days. Contact us now!