Closing Costs in San Diego: A Guide for Sellers
Selling your home in San Diego? One key detail to plan for is closing costs—those fees and expenses that arise when finalizing the sale of your property. In this guide, we’ll explain how closing costs work in San Diego and what specific fees sellers should anticipate.
From loan payoffs to taxes, we’ll cover the most common expenses, helping you stay informed and prepared as you sell your San Diego home. Understanding realty transfer taxes, agent commissions, or other fees can help you budget for a successful sale.
Disclaimer: This article provides estimates of a seller’s closing costs that are meant for educational and research purposes only; our calculations are not a guarantee.
What are closing costs?
Closing costs are the various fees you’ll need to pay when finalizing the sale of your property. These expenses can include everything from property taxes to insurance premiums, with many of them being standard for homeowners.
However, certain costs, like transfer taxes, can vary depending on where your home is located when it sells.
Mortgage/Loan payoff amount
One important step before selling your home is ensuring that your mortgage is fully paid off. This is known as the loan payoff amount, which includes the remaining balance on your mortgage plus any interest that has accumulated throughout the loan’s term. This amount must be settled to complete the sale, allowing the title to transfer to the new owner free and clear of liens.
The loan payoff amount also accounts for any additional fees that may be tied to your mortgage, ensuring that all outstanding debts are resolved before the sale is finalized.
Property taxes
According to WalletHub, California ranks 16th in the country in terms of property taxes, placing it above cities like North Carolina and New Mexico.
Real estate in California is taxed at a rate of 0.71%, with a median home value of $900,720. To get a better idea of what you might owe, consult a property tax calculator.
