Understanding Seller Closing Costs when Selling a Home in L.A. & Beverly Hills, CA

Understanding Seller Closing Costs when Selling a Home in L.A. & Beverly Hills, CA | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert

If you're considering selling your home in Los Angeles or Beverly Hills, it's important to understand the costs associated with the sale process. As a seller, you can expect to pay around 7.5% in total closing costs, which includes your sales broker commission. This covers fees like escrow, title, home warranty, and transfer taxes. However, the amount you pay can vary depending on the location of your property. For example, Beverly Hills and LA both have their own transfer taxes in addition to county transfer taxes. In addition with the new LA City Mansion Tax (ULA) going into effect on April 1, 2023, there will be an additional transfer tax of 5-5.5% on sales over $5 million. 💰 Make sure to speak with your broker to get a clear understanding of what closing costs you specifically can expect to pay on the sale of your property. 🏡

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