Mississippi Seller Closing Cost Calculator
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Richard Haddad Executive EditorClose
Richard Haddad Executive EditorRichard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
Mississippi Closing Cost Calculator: Seller Averages
This free calculator can help home sellers in Mississippi estimate their closing costs and net proceeds. To get a ballpark idea of the cost of selling a house in the Magnolia State, enter the information for each of the fields above. You can see typical or state averages for most Mississippi seller closing costs below.
Home Selling Price: $272,900
How does your home compare to the state’s median selling price of $272,900? To determine your listing price, you can:
- Get a preliminary estimate with HomeLight’s free Home Value Estimator
- Request a Comparative Market Analysis (CMA) from a top Mississippi agent
- Purchase a pre-listing home appraisal (typically $600 in Mississippi)
- Visit this HomeLight map link to compare recently sold homes in Mississippi
Mortgage Payoff Amount: $149,784
According to the credit experts at Experian, the average mortgage balance for Mississippi homeowners is $149,784. To find your exact payoff amount, check your latest mortgage statement or contact your mortgage servicer.
Listing Agent Fee: $6,823–$8,187
A typical listing agent commission in Mississippi is 2.5% to 3% of the home’s selling price. On a $272,900 house, your agent’s fee might range from $6,823–$8,187.
Get the Highest Proceeds: HomeLight data shows that the top 5% of agents sell homes faster and for up to 10% more than average agents. Try HomeLight’s free Agent Match platform to consult with the highest-performing agents in your Mississippi market.
Buyer’s Agent Fee: $6,823–$8,187
Traditionally, sellers used to pay both the listing agent and the buyer’s agent fees. 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 cover this fee to attract buyers, on a $272,900 median-priced Mississippi home, you can expect to pay $6,823–$8,187.
Detailed Closing Costs: $3,821
Closing costs in Mississippi average about 1.4% of the home’s sale price. On a median-priced home of $272,900, you might pay $3,821. Below are some of the typical types of closing costs you can expect:
- Home Preparations: To make your Mississippi home stand out, these costs can include curb appeal efforts such as cleaning, landscaping, and staging.
- Renovations/Repairs: Most homes need some repairs or updates to meet buyer expectations or to fulfill after-inspection requests.
- Title Service Fees: Title company work is required to verify legal ownership and manage the transfer of Mississippi property.
- Owner’s Title Insurance: This is typically a one-time insurance premium paid by the seller to protect the buyer from title issues or any ownership disputes.
- Transfer Taxes: Mississippi does not levy a state transfer tax on home sales, but some local municipalities might impose a fee.
- Recording Fees: These are fees paid to the local government to officially record the change in homeownership.
- Buyer Incentives: These are concessions or credits you might offer potential buyers, such as paying their Realtor fees or offering a rate buydown.
- Other Costs: Miscellaneous expenses not covered in other categories, such as attorney fees. (An attorney is required to prepare and review legal documents in a Mississippi home sale.)
- Moving Expenses: While this is not technically a “closing cost,” you may want to include it in your plans. It can range from $883 to $7,000.
Make Buying and Selling Easier: Most Mississippi sellers are also buyers looking to purchase a new home. With HomeLight’s Buy Before You Sell program, you can make a non-contingent offer on your new home and only move once. Watch this short video to learn more.
More Helpful Seller Tools From HomeLight
Here are some additional tools you may find helpful as you plan your Mississippi home sale:
- Listing Agent Match platform
- Home Value Estimator
- Best Time to Sell Calculator
- Agent Commissions 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 7 days. Answer a few questions about your Mississippi home to get started. Along with your offer, you’ll also see an estimate of what a top Mississippi 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:
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.