What Does It Cost to Sell a House in Mississippi?

Sale costs fall into five buckets: professional representation, closing and title work, payoffs, prorations, and anything you agreed to give the buyer. Amounts vary by transaction, so treat the list as a checklist rather than a quote.

If you list with a brokerage, commission is negotiated in the listing agreement. Whether any portion is offered to a buyer's agent, and how that is presented, is also negotiated rather than fixed. In a direct sale you may have no commission at all, but the offer itself is typically below retail because the buyer is taking condition and speed risk.

Mississippi closings run through a closing attorney. Expect attorney fees, title examination, deed preparation, recording fees, and — depending on the deal — a title insurance premium. Who pays which item is negotiable and stated in the contract.

Any mortgage, home equity line, tax lien or judgment must be paid at closing from proceeds. Property taxes are prorated between buyer and seller as of the closing date. If you have an escrow account, the lender refunds the balance separately after payoff.

On a financed sale, the inspection often produces a repair request and the appraisal can require specific items. Sellers frequently also contribute toward the buyer's closing costs as part of the negotiated price. In an as-is cash sale these usually disappear, which is part of what you're trading price for.