Who typically pays closing costs and commissions, and what costs should a seller expect when selling a home?

Buyers typically pay their own closing costs, and since the NAR settlement each side's agent compensation is negotiated separately. A seller can agree to cover certain buyer items (the lender's title policy, a split of escrow fees, a home warranty) as a negotiated concession or credit, so who pays is partly a default and partly whatever the two sides negotiate. On commissions, the old shorthand that the seller pays both agents is out of date. The listing agent's compensation is set in the listing agreement and paid by the seller. The buyer's agent compensation is negotiated in the buyer's own representation agreement, and how it gets paid (out of the buyer's pocket, through a seller concession, or built into the price) varies deal by deal. Never assume the seller automatically covers the buyer's agent. Total seller costs depend heavily on your state. In California, for example, a seller paying buyer-agent compensation might expect roughly 5 to 7 percent of the sale price all in, or closer to 3 to 4 percent if not, with agent compensation plus about 1 percent for title, escrow, and related fees making up most of it (illustrative and negotiable). Other states add items like transfer taxes. Have a local agent itemize the specific costs for your area before you list.