Selling a Home in Arizona? Here are the Closing Costs You’ll Pay

Arizona home sellers hoping to exchange the front door keys for a profit on the sale should be aware that there are several closing items they’ll be responsible for, even in a hot seller’s market. A growing population and economy has made Arizona a magnet for newcomers and deep-pocketed investors, but whether you’re selling in Tempe or Tucson, there are some closing expenses you can’t avoid.

Arizona real estate agent, James Wexler, who has represented clients on over 460 single-family home transactions, says that sellers can get a preview of what they’ll owe by requesting a net sheet, otherwise known as a settlement estimate from their title and escrow company at the start of the process.

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“Most people don’t really concern themselves with the sell-side costs,” Wexler says.

This is partly due to the fact that closing costs have dropped a bit for both Arizona sellers and buyers in recent years. Wexler explains that a competitive real estate market in the state has led to a compression of costs for items like escrow, lender and agent fees.

According to Wexler, the average cost Arizona sellers typically pay at closing is 6%, divided into 5% for the agent commission (when sellers decide to pay the buyer’s agent’s fee on top of their listing agent’s compensation) and 1% for the remaining fees.

Even if you think you have a rough sense of what you’ll owe, it’s advisable to peruse all the items, so there are no surprises at closing time.