Philadelphia Seller Closing Cost Calculator

Closing Cost Calculator for Philadelphia: Seller Averages

This free calculator can help home sellers in Philadelphia estimate their closing costs and net proceeds. To get a ballpark idea of the cost of selling a house in the City of Brotherly Love, enter the information for each of the input fields above. You can see typical or state averages for most Philadelphia seller closing costs below.

Home Selling Price: $305,000

How does your home compare to the city’s median selling price of $305,000? To determine your listing price, you can:

1. Get a preliminary estimate with HomeLight’s free Home Value Estimator

2. Request a Comparative Market Analysis (CMA) from a top Philadelphia agent

3. Purchase a pre-listing home appraisal (typically $450-$500 in Philadelphia)

4. Visit this HomeLight map link to compare recently sold homes in Philadelphia

Mortgage Payoff Amount: $175,647

According to Experian, the average Pennsylvania homeowner has a mortgage balance of $175,647. To find the exact payoff amount for your Philadelphia home, check your latest mortgage statement or contact your mortgage provider.

Listing Agent Fee: $7,625–$9,150

A typical listing agent commission in Philadelphia is 2.5% to 3% of the home’s selling price. On a $305,000 house, your agent’s fee might range from $7,625–$9,150.

Buyer’s Agent Fee: $7,625–$9,150

In the past, most home sellers covered both the listing agent and the buyer’s agent commissions. However, following a landmark court settlement by the National Association of Realtors, buyers are now expected to negotiate compensation directly with their own agents. If you’re offering to pay this fee to attract buyers or help close a deal, on a $305,000 median-priced Philadelphia home, you can expect to pay $7,625–$9,150.

Detailed Closing Costs: $13,115

Closing costs in Philadelphia typically average 4.3% of the home’s sale price. Whether your property falls in the high or low end of this range depends on its value, condition, the purchase agreement, and what services you end up paying for. On a median-priced home of $305,000, you might pay $13,115. Below are some of the typical types of closing costs you can expect in a Philadelphia home sale:

• Home Preparations: To help make your Philadelphia home stand out, you’ll want to invest in curb appeal improvements such as landscaping, cleaning, or staging the property.
• Renovations/Repairs: Fixing or updating your Philadelphia home to meet buyer expectations or inspection requests.
• Title Service Fees: Title company work required to verify legal ownership and help manage the transfer of the property.
• Owner’s Title Insurance: A one-time insurance premium paid by the seller in Philadelphia to protect the buyer from title issues or ownership disputes.
• Transfer Taxes: Philadelphia home sellers pay a state transfer tax rate of 1% and a city transfer tax rate of 3.278% for every of the property’s value. (See more below.)
• Recording Fees: This is a relatively small fee you’ll need to pay to the local city or county recording office to officially record the change in property ownership.
• Buyer Incentives: With buyers being more hesitant to take the plunge in the current Philadelphia market, you may need to offer concessions or credits to sweeten a deal, such as paying the buyer’s agent fees or funding an interest rate buydown. Transfer taxes are a common concession.
• Other Costs: You’ll likely have some miscellaneous expenses that are not covered in other categories, such as attorney fees and HOA transfers. (An attorney is not required to sell a house in Pennsylvania.)
• Moving Expenses: While paying for movers or a rental truck is not technically a closing cost, you might want to include this expense in your budget, which can range from $883 to $7,000.

In Philadelphia, the Realty Transfer Tax is a tax imposed on the sale or transfer of real estate. The current combined rate for the Philadelphia Realty Transfer Tax is 4.278%.

3.278% goes to the City of Philadelphia, and 1% goes to the Commonwealth of Pennsylvania. The buyer and seller are jointly responsible for paying the tax, which is often split between them.

More Helpful Seller Tools From HomeLight

Here are some additional tools you may find helpful as you plan your Philadelphia home sale:

• Listing Agent Match platform
• Home Value Estimator
• Best Time to Sell Calculator
• Agent Commission Calculator
• Net Proceeds Calculator

Want to avoid closing costs and sell fast? Get a cash offer today.

With HomeLight’s Simple Sale platform, you can receive a no-obligation, all-cash offer in 24 hours and close in as few as 10 days. Answer a few questions about your Philadelphia home to get started. Along with your offer, you’ll also see an estimate of what a top Philadelphia agent might be able to get for your home. Get both options with one tool.

As you look ahead to your next home purchase, here are some helpful buyer tools:

• Home Affordability Calculator
• Down Payment Calculator
• General Closing Cost Calculator
• Buyer’s Agent Match platform