Dave Barry once described Closing Day as the place where everyone and their brother comes out of the woodwork with their hand out. Both buyers and sellers have charges at closing, and knowing about them way before closing makes your move a little less stressful!

Different areas have different customary charges for buyers and sellers.  In the St Louis area, sellers are typically responsible for:

Existing Loans

-Keep in mind that your mortgage interest is paid in arrears.  That means that if you sell your house on the 25th day of the month, your lender will collect 25 days of interest on the closing day.  Your bank may have a "fax fee" or a charge for providing a pay off, which I think is absurd, by the way!

Title Company Charges

-The title company performs the closing in Missouri, so their charges (right now $300.00 is the average) include title work and preparation of the HUD-1 closing statement.  St Louis County charges a release fee that is usually less than $100.

Municipal, Conservation District, and Fire District Inspection Fees

-These can run from about $10 to about $100.  That's the cost of the inspection...sellers most typically make any repairs required to bring the house to code.

Real Estate Commissions

-Commission is usually a percentage of the sale price.

LaClede Gas Inspection

-Laclede charges $150.00 to inspect all gas appliances and fuel runs.  If you have a gas grill that has seen better days, exclude it from inspection on your contract!!

Agreed upon Repairs

-This is a great big question mark!  There are a lot of dynamics...a buyer who may be a great handyman, or who may not know which end of a screwdriver is up.  An inspector who takes care to explain the difference between routine maintenance and disrepair.  A buyer's agent who sets realistic expectations or who sees the inpsection period as an opportunity to renegotiate the contract.  If you have concerns, have an inspection before you list your home.  Your listing agent should be able to help you anticipate and negotitate through inspections. 

When considering an offer, ask your agent for an estimate of seller closing costs based on the sale price you are negotiating and the closing date on the offer.  It's an estimate, because  you won't know about repairs until inspections are done, but hopefully it will give you enough information that you can sleep at night!