How the calculator works
Most sellers compare a cash offer to their list price. That is the wrong comparison. The list price is what a buyer pays, not what you keep. This calculator subtracts what it costs to get to closing, then shows the two routes side by side.
Seller closing costs in Ohio: what comes out of a listed sale
- Agent commissions. Commissions are negotiable. Sellers often pay 5 to 6 percent of the sale price between the listing agent and the buyer's agent.
- Closing costs. Title and escrow fees, the owner's title policy where the seller pays for it, and property taxes prorated to the day of closing. Ohio property taxes are paid in arrears, so sellers usually owe a credit to the buyer.
- Conveyance fee (Ohio's transfer tax). Ohio charges a real property conveyance fee when a deed transfers. The state fee is $1 per $1,000 of the sale price and counties can add up to $3 more, so the total runs $1 to $4 per $1,000 depending on the county.
- Buyer concessions. After the inspection, buyers commonly ask for repair credits or help with their closing costs.
- Repairs. Whatever it takes to get the house to the price you entered. A house that needs a roof, a furnace, or point-of-sale repairs will not fetch the same price as-is.
- Holding costs. Every month the house sits, you pay the mortgage, taxes, insurance, utilities, and upkeep.
What comes out of a cash sale
When you sell to a cash buyer like Cleveland Quick Sale, there is no agent, so there is no commission. We buy as-is, so there are no repairs. We charge no fees. The offer, minus what you owe on the house, is what you keep. There is no lender, so most sales close in 30 days or less.
When listing makes more sense
If your house is in good shape, you have time, and you can carry the costs while it sells, listing will often leave you with more money. A cash sale makes sense when the house needs work you can't or don't want to pay for, when you need to close by a date, or when the certainty matters more than the last few thousand dollars. Run your own numbers above and decide from there.