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What closing costs would a VA homeowner be required to pay when selling a home?

by MArcher from Kansas City, Missouri. Nov 14th 2012 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

There's no difference in what closing costs would be just because it's a VA loan, and those costs would be whatever is customary in your area.. There is a difference in what can be charged to you when purchasing a home using VA financing, but not when selling.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Nov 14th 2012
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Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

A seller isn't required to pay for any of the closing costs, closing costs are the responsibility of the buyer with the exception of a real estate broker's fees, if there is an agent or agents involved. Many buyers these days do request that the seller pay some of their closing costs but they are under no obligation to do so.

Nov 14th 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,395 contributions

These other answers are correct. However, if you are selling your home to someone who is buying using a VA loan, then there are certain costs (fees) that the VA will not allow the buyer to pay. In most cases, it is the seller that ends up paying them, but sometimes the real estate agent will offer to pay a portion of them. The fees the VA buyer is not allowed to pay include The traditional Buyers' half of the Escrow settlement fee, Doc Prep fees, Underwriting fees, Processing fees, Pest inspection fees, and at least a dozen other specifically named fees. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Nov 14th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

You will likely have to pay a specified compensation to the realtor as well as some possible transfer taxes.

Nov 14th 2012
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robert brown-farley (brofarops)
#14 ranked lender in Missouri - 15 contributions

I do not believe there is a Seller(s) Closing Cost. There might be a Brokerage Fee ? If so this might be as low as $250 or $1.oo per thousand based on principal. Closing Cost is however the Buyer(s) responsibility.

Nov 14th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Pretty much everything is negotiable in real estate, depending on the buyer some may want you to pay some of their costs. Totally up to you, but in some cases NOT being willing to help the buyer may limit the marketability of your home. (Grew up in KCMO and KS side too, still have a lot of good friends there.) Good luck - let me know if I can help with your next home!

Nov 14th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

PS. some areas there are customary costs that the seller will pay, check with a local title company, attorney or a Realtor to make sure you aren't surprised.

Nov 14th 2012
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,660 contributions

When selling a home, there is no difference for a homeowner with a VA loan than a home owner with any other type of loan. Selling costs vary in each state. Ask your Real Estate Agent, or contact a local Title Company to find out exactly what costs are involved in selling a home in your area. In am in MN. In our area, selling costs (not including Realtor fees) equals about 1% of the sale price.

Nov 15th 2012
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