Kansas Seller Closing Cost Calculator

1 month ago 14

Closing Cost Calculator for Kansas: Seller Averages

This free calculator can help home sellers in Kansas estimate their closing costs and net proceeds. To get a ballpark idea of the cost of selling a house in the Sunflower State, enter the information for each of the input fields above. You can see typical or state averages for most Kansas seller closing costs below.

Home Selling Price: $279,000

How does your home compare to the state’s median selling price of $279,000? To determine your listing price, you can:

  1. Get a preliminary estimate with HomeLight’s free Home Value Estimator
  2. Request a Comparative Market Analysis (CMA) from a top Kansas agent
  3. Purchase a pre-listing home appraisal (typically $650 in Kansas)
  4. Visit this HomeLight map link to compare recently sold homes in Kansas

Mortgage Payoff Amount: $170,252

According to Experian, the average mortgage balance for Kansas homeowners is $170,252. To find your exact payoff amount, check your latest mortgage statement or contact your mortgage servicer.

Listing Agent Fee: $6,975–$8,370

A typical listing agent commission in Kansas is 2.5% to 3% of the home’s selling price. On a $279,000 house, your agent’s fee might range from $6,975–$8,370.

Get the Highest Proceeds: HomeLight data shows that the top 5% of agents sell homes faster and for up to 10% more than average agents. Try HomeLight’s free Agent Match platform to consult with the highest-performing agents in your Kansas market.

Buyer’s Agent Fee: $6,975–$8,370

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 $279,000 median-priced Kansas home, you can expect to pay $6,975–$8,370.

Detailed Closing Costs: $2,790

Closing costs in Kansas average about 1% of the home’s sale price, lower than the national average of around 1.8%. On a median-priced home of $279,000, you might pay $2,790. Below are some of the typical types of closing costs you can expect:

  • Home Preparations: To help attract buyers, you’ll want to invest in some curb appeal improvements, such as professional cleaning, landscaping, or home staging.
  • Renovations/Repairs: Likewise, you should plan on making targeted repairs or updates to your property to meet buyer expectations or inspection requests.
  • Title Service Fees: Title company work is required to verify legal ownership and help you manage the transfer of the home.
  • Owner’s Title Insurance: This is a one-time insurance premium paid by the seller to protect the buyer from title potholes or ownership disputes.
  • Transfer Taxes: Kansas does not levy a state transfer tax on home sales, but some local municipalities might impose a fee.
  • Recording Fees: These are usually fairly small fees paid to the local government to officially record the change in property ownership.
  • Buyer Incentives: In a market with hesitant buyers, you may need to offer credits or concessions to close your sale, such as paying the buyer’s agent fees or offering to pay for an interest rate buydown.
  • Other Costs: You’ll likely have miscellaneous expenses not covered in other categories, such as attorney fees and HOA transfers. (An attorney is not legally required to sell a house in Kansas.)
  • Moving Expenses: While not technically a closing cost, you might want to include this expense in your budget, which can range from $883 to $7,000.
Read Entire Article