What Are Closing Costs When Selling a Home in Pasadena?
What are closing costs when selling a home in Pasadena?
Answer:
Closing costs when selling a home in Pasadena include agent commissions, title and escrow fees, transfer taxes, and required city compliance costs. May Kunka breaks down each cost so you can plan ahead with confidence.
Understanding Seller Closing Costs
Closing costs are the various fees and expenses you pay when transferring your home’s ownership to a buyer.
While buyers have their own costs, sellers in Pasadena are responsible for several standard charges.
1. Real Estate Agent Commission
The largest closing cost is usually the commission—commonly around 5–6% of the sale price, split between the listing agent and the buyer’s agent.
May Kunka provides full-service marketing, negotiation, and transaction management as part of this cost.
2. Escrow Fees
Escrow companies manage the funds and documents during your sale. These fees are typically shared by buyer and seller.
Estimated cost: $1,000–$2,000 depending on your sale price.
3. Title Insurance
In Southern California, sellers customarily pay for the owner’s title insurance policy, protecting the buyer against future title claims.
Estimated cost: $1,000–$2,500 depending on home value.
4. Pasadena City Transfer Tax
Pasadena requires a city transfer tax of $4.50 per $1,000 of the sale price.
For a $1,000,000 home, that’s $4,500 at closing.
5. Natural Hazard Disclosure (NHD) Reports
California law requires sellers to provide NHD reports.
Estimated cost: $100–$150.
May Kunka coordinates this for you.
6. City Compliance and Retrofit Costs
Pasadena mandates certain point-of-sale requirements, such as:
Low-flow plumbing fixtures
Smoke and carbon monoxide detectors
Water heater strapping
Budget a few hundred dollars for these updates.
7. Additional Costs and Concessions
Depending on negotiations, you might offer repair credits or cover part of the buyer’s closing costs.
These are optional and vary based on inspections and market conditions.
Sample Closing Cost Estimate for a $1,200,000 Home
Agent commissions (5%): ~$60,000
Escrow fees: ~$1,500
Title insurance: ~$2,000
City transfer tax: ~$5,400
NHD report: ~$150
Retrofit costs: ~$500
Total estimated closing costs: ~$69,550
Final Thoughts: Plan for a Smooth Closing
Knowing your closing costs helps you plan your net proceeds accurately.
May Kunka provides detailed seller net sheets and guidance every step of the way.
Ready to Learn Your Exact Closing Costs?
Contact May Kunka for a customized estimate based on your home’s value and location in Pasadena.