Real estate agent commissions are typically the largest selling expense. In Colorado Springs, expect to pay around 5% to 6% of your sale price, split between your agent and the buyer's agent. On a $450,000 home, that's roughly $22,500 to $27,000.
Closing costs for sellers in Colorado Springs usually run between 1% and 3% of the sale price, separate from agent commissions. For a $500,000 home, that's typically $5,000 to $15,000 covering title fees, settlement charges, and document preparation.
In Colorado, sellers typically pay for the owner's title insurance policy. This protects the buyer against any issues with the property's ownership history, like undisclosed liens or legal claims. The cost depends on your sale price but is a standard part of most transactions.
After a buyer's inspection, you may need to make repairs or offer a credit toward closing costs. Common requests include HVAC, roof, plumbing, or electrical issues. Budgeting 1% to 2% of your sale price for potential negotiations is a safe starting point.
Location is the biggest factor in your home's sale price. In Colorado Springs, neighborhoods like Briargate, Broadmoor, and Flying Horse typically command higher prices. Proximity to good schools, parks, and amenities also plays a major role in what buyers will pay.
If your home is in a neighborhood with a homeowners association, you'll likely pay a transfer fee when you sell. In Colorado Springs, these fees typically range from $200 to $500. This covers updating ownership records and providing HOA documents to the buyer.
The Johnson Team is a large team that focuses on a small area. Hyper-Local Matters. We are one of the top real estate teams in the state of Colorado because our marketing techniques and drive surpass the competition. Even more than that, it’s because we know our market and we know our neighborhoods. Rather than extending our reach, we go Hyper-Local.