Tennessee​ Seller Closing Cost Calculator

Closing Cost Calculator for Tennessee: Seller Averages

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

Home Selling Price: $371,000

How does your home compare to the state’s median selling price of $371,000? 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 Tennessee agent
3. Purchase a pre-listing home appraisal (typically $650 in Tennessee)
4. Visit this HomeLight map link to compare recently sold homes in Tennessee

Mortgage Payoff Amount: $217,863

According to the credit experts at Experian, the average mortgage balance for Tennessee homeowners is $217,863. To find your exact payoff amount, check your latest mortgage statement or contact your mortgage servicer.

Listing Agent Fee: $9,275–$11,130

A typical listing agent commission in Tennessee is 2.5% to 3% of the home’s selling price. On a $371,000 house, your agent’s fee might range from $9,275–$11,130.

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 Tennessee market.

Buyer’s Agent Fee: $9,275–$11,130

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 $371,000 median-priced Tennessee home, you can expect to pay $9,275–$11,130.

Detailed Closing Costs: $6,455

Closing costs in Tennessee average about 1.74% of the home’s sale price. On a median-priced home of $371,000, you might pay $6,455. Below are some of the typical types of closing costs you can expect:

• Home Preparations: Deep cleaning the home, landscaping, or staging the property can add to the home’s curb appeal, creating a better first impression. 
• Renovations/Repairs: If you want to keep your home in line with market exepcations, consider fixing or updating your property. This will also give you an advantage if any inspection requests come in. 
• 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 hiccups with ownership legality.
• Transfer Taxes: Tennessee home sellers pay a transfer tax rate of $0.37 for every $100 of the property’s value. (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. Transfer taxes often fall under this purview. 
• Other Costs: Miscellaneous expenses not covered in other categories, such as attorney fees and HOA transfers. (An attorney is not required to sell a house in Tennessee.)
• Moving Expenses: While not technically a closing cost, you should include this expense in your budget, which can range from $883 to $7,000.

Tennessee’s transfer tax rate is $0.37 per $100 of the property value or the consideration paid, whichever is greater. This is usually paid for by the buyer (and is the default requirement in Tennessee), but sellers can opt to pay for this as a concession to entice buyers to cross the finish line. Additional transfer taxes may apply depending on the city or county where the transaction occurs.