Attorney Fees
Some states require an attorney to be present when closing the sale of a property.
Louisiana requires a licensed attorney when selling property, according to Louisiana Law R.S. 22:512(17), which requires a licensed attorney to examine and certify the title.
Homeowners Association/Condo Fees
One of the biggest sticking points for sellers is the fees levied by their homeowners’ association (HOA) or condominium association fees.
Like other fees we’ve discussed, these will vary, not just because of the different rules and regulations of your local HOA but also because HOA regulations vary greatly depending on the state. These fees (or dues) are usually prorated at the time of the sale.
Seller’s concessions
Sellers in Louisiana might find themselves responsible for certain costs at closing due to financing concessions negotiated during the sale process. These concessions can include contributions toward closing costs, repairs, or even providing a home warranty for the buyer.
A typical seller concession is repair credits, which can be offered when a buyer has a contingency related to a home inspection. In such cases, if the seller opts not to address the repairs identified by the home inspector, the buyer may withdraw their offer without losing their earnest money.
Instead of making the repairs, sellers can choose to offer repair credits at closing, giving the buyer cash to cover the necessary work. However, these concessions are less common in a strong seller’s market, where contingencies might deter potential buyers.
Miscellaneous closing costs/fees
These are some of the most typical closing costs you’ll face as a seller in Louisiana. However, it’s important to remember that many of these costs are negotiable. Your buyer might be open to negotiating some of these expenses, and a real estate agent or attorney can assist you in securing a better deal.
HomeLight can connect you with a top local agent to help minimize your closing costs without risking your sale. Alternatively, if you’d prefer to skip the complexities of working with an agent and managing closing costs, consider HomeLight’s Simple Sale program. We make selling your home straightforward in just three steps—provide some basic details about your property, consult with one of our Home Consultants, and you could sell your home in as few as 10 days.
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