Buyer’s Agent Fee: $12,075–$14,490
In the past, sellers covered both the listing agent and the buyer’s agent fees. However, following a landmark court settlement by the National Association of Realtors, buyers are now expected to negotiate compensation directly with their own agents. If you’re offering to pay this fee to attract buyers, on a $483,000 median-priced New Hampshire home, you can expect to pay $12,075–$14,490.
Detailed Closing Costs: $15,456
Closing costs in New Hampshire average about 3.2% of the home’s sale price, higher than the national average of around 2%. On a median-priced home of $483,000, you might pay $15,456. Below are some of the typical types of closing costs you can expect:
- Home Preparations: Sprucing up the home’s curb appeal, such as interior house cleaning, landscaping, or home staging, can entice buyers.
- Renovations/Repairs: Fixing or updating your property to meet keep pace with buyer demand and market conditions.
- Title Service Fees: Title company work required to verify legal ownership and help manage the transfer of the property.
- Owner’s Title Insurance: A one-time insurance premium paid by the seller to protect the buyer from title issues or ownership disputes.
- Transfer Taxes: New Hampshire home sellers pay a transfer tax rate of $0.75 per $100 of the property’s value. This is shared between the buyer and seller for a combined rate of $1.50 per $100. (See more below.)
- Recording Fees: Fees paid to the local government to officially record the change in property ownership.
- Buyer Incentives: Credits or concessions you might offer buyers, such as paying the buyer’s agent fees or offering a rate buydown.
- Other Costs: Miscellaneous expenses not covered in other categories, such as attorney fees and HOA transfers. (An attorney is required to sell a house in New Hampshire.)
- Moving Expenses: While not technically a closing cost, you should include this expense in your budget, which can range from $883 to $7,000.
In New Hampshire, transfer taxes are levied at a rate of $0.75 per $100 of the total price or consideration of the property changing hands. If the property in question is sold for less than $4,000, a minimum tax of $20 is levied on both the buyer and the seller.
