Closing Cost Calculator for Seattle Sellers

Buyer’s Agent Fee: $20,850 – $25,020

In the past, most home sellers paid both the agent’s and the buyer’s agent’s commissions. However, following a landmark court settlement by the National Association of Realtors, buyers are now expected to negotiate damages directly with their own agents. If you offer to pay this fee to attract buyers or help close a deal, for a Seattle home with a median price of $834,000, you can expect to pay between $20,850 and $25,020.

Detailed closing costs: $20,850 – $25,020

Closing costs in Seattle typically average 2.5%-3.0% of the home’s sales price. Whether your property falls into the high or low end of this range depends on its value, condition, purchase agreement, and the services you ultimately pay for. For a home with a median price of $834,000, you might pay $20,850 – $25,020. Below are some of the typical types of closing costs you can expect in a Seattle home sale:

• Preparations at home: To make your Seattle home stand out, you’ll want to invest in curb appeal improvements such as professional cleaning, landscaping, or home staging.
• Renovations/repairs: Repair or update your Seattle home to meet buyer expectations or fulfill inspection requests.
• Title service fees: Title company operations necessary to verify legal ownership and help manage the transfer of the property to a new owner.
• Title insurance: A one-time insurance premium paid by the seller in Seattle to protect the buyer against title issues or disputes.
• Transfer taxes: Home sellers in Seattle pay a state real estate tax (REET) of 1.1% of the property’s value. They also pay a local REET on top of the state rate. (See more below.)
• Withdrawal costs: This is a relatively small fee you must pay to the local city or county recorder’s office to officially record the change in ownership.
• Buyer incentives: With buyers becoming more hesitant in the current Seattle market, you may need to offer concessions or credits to make a deal more attractive, such as paying the buyer’s agent fees or financing an interest buydown.
• Other costs: You’ll likely have some miscellaneous expenses that aren’t covered in other categories, such as attorney fees and HOA transfers. (An attorney is not required to sell a home in Washington.)
• Moving costs: Although paying for movers or a rental car isn’t technically a closing cost, you may want to include these costs in your budget, which can range from $883 Unpleasant $7,000.

Washington has a graduated REET based on the sales price of the home. From 2023 the rates are:

In addition to the state rate, cities and counties can charge their own REET. Seattle charges an additional fee REET of 0.50%. The seller’s total REET is the combination of state and local taxes.