How Much Does It Cost to Sell a House in Las Vegas, Nevada?

If you’re wondering how much it costs to sell a house in Las Vegas, you’ve come to the right place to find your answer. Many people who are considering selling their home have questions about things like closing costs, real estate agent commissions and fees associated with selling your home. In this article, you will get answers to the following questions:

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What's the Cost of Selling a House in Las Vegas, NV?

Selling your house in Las Vegas, NV, can be expensive. As a rule of thumb, when you’re budgeting for your sale, you should set aside up to 10% of your final sale price for all the costs associated with packing up and moving elsewhere. Given that the average sale price of real estate in Las Vegas is currently around $324,000, it might cost you somewhere between $30,000 – $35,000 to sell your house when you factor in all of the associated costs. 

How Much Are Commissions When You Sell Your Home?

Easily the most significant cost of selling your home in Las Vegas is the commissions. In the state of Nevada, realtor commission fees are in the range of 5-6%. This is broken down into a listing fee (2.5-3%) and the buyer’s agent fee (2.5-3%). So, to use the same example we introduced in the previous section, if you sell your house for the median price of $324,000, you will end up paying just short of $20,000 in commissions alone. 

Who Pays Real Estate Commission in Nevada?

In Nevada, the seller is responsible for paying the commission fees to both the listing agent and the buyer agent. Typically, this is done upon completion of the sale of the house and is closed through escrow. When planning to sell, it’s essential to factor in the commissions as part of your sale price so you don’t receive any unwelcome surprises when it comes to closing your sale.  

Appraisal Fees

In Nevada, the seller is responsible for paying the commission fees to both the listing agent and the buyer agent. Typically, this is done upon completion of the sale of the house and is closed through escrow. When planning to sell, it’s essential to factor in the commissions as part of your sale price so you don’t receive any unwelcome surprises when it comes to closing your sale.  

How Much Are Closing Costs When Selling a House in Las Vegas?

Closing costs often come as a significant surprise to sellers, as they’re often things that you don’t think about in the lead-up to completing your sale. To budget for closing costs, you can expect to pay approximately 2% of the sale price in fees, which, if we are to use the same example of a $324,000 home, your closing costs would be approximately $6,480.

List of Las Vegas Closing Costs for Sellers

If you’ve never sold a house before, the extent of the closing costs might come as a surprise, particularly if they haven’t explained to you in advance. To ensure you don’t meet any surprises when it comes to selling your house, we’ve listed every closing cost you will encounter and included an explanation of what it is, as well as a rough idea of how much each will cost. 

Courier Fees

You would be surprised how much paperwork has to exchange hands when you’re completing a sale. To make sure the correct documents get to the appropriate place on time, you will need to set aside some fees to hire couriers to deliver your paperwork securely—budget for between $50 and $250 for this process.

Escrow Fee

This is the fee that you need to pay to the escrow company for the service they provide when processing the commissions. You’ll find that the fee might vary slightly depending on the company that you use, but you can expect to pay around $275.

Form 1099

When you conclude the sale of a property, you must submit form 1099 to the IRS. This must be attached with a $35 payment. 

Home Warranty Plan

Not everyone has to pay this, but you should check before you go to complete your sale. If you do need to pay, basic plans in the state of Nevada cost approximately $500.

Nevada Transfer Tax

As the name suggests, this is a state-specific tax and is paid to the state of Nevada by the seller. The current rate is $2.50 per $1,000 of the loan.

Pest Inspection

In some instances, a buyer can request a pest inspection to check the property for signs of any pests that may cause structural damage. A pest inspection is required for VA loan borrowers, and the fee is typically between $50 and $250.

Re-conveyance Fee

This fee is to clear the title of the lien and to reestablish the deed of trust to the seller. The cost is $156.

Recording Fee

The recording fee refers to the cost of recording details on the new deed. You usually don’t have to come up with this fee on your own, as it is usually split between the buyer and seller and is paid to the county recorder’s office. In Las Vegas, the fee currently sits at $75.

Staging Fees

Some people decide to ‘stage’ their homes before inviting potential buyers in to look around. Staging your property involves bringing in interior experts to make your house look more appealing and can be very effective, particularly if you’re not confident about your home’s selling potential. This is an excellent way of making a great first impression, but it can be costly. In Las Vegas, paying people to make your home look like a showroom can cost somewhere in the region of $500 – $2,000.

Tax Service

You will need to pay a one-off fee for setting up tax payments relative to your house purchase, which is currently $100. This fee is charged by the lender.

Title Insurance Fee

This fee is to ensure that the seller is providing the buyer with a clear title to the property. Depending on the title company you use, this fee will vary, but it is likely to cost you somewhere in the region of $500 – $600.

Average Closing Costs for Sellers

Don’t forget that closing fees, on average, can add up to approximately 2% of your sale price, so you should bear this in mind when setting your asking price and putting your house on the market. 

While there may be other costs associated with closing your sale (perhaps attorney fees and repairs, for instance), those outlined above should serve you well if you’re hoping to put together a budget for how much it will cost to sell your home in Las Vegas. 

Frequently Asked Questions About the Cost of Selling Your Home

What’s the Average Cost to Sell Your Home in Las Vegas?

The average cost to sell your house in Las Vegas is 10% of the sale price when you consider all closing costs and commissions. Therefore, if you sell your home for the Las Vegas average of $324,000, it could cost you approximately $32,400 to sell your home.

Who Pays Closing Costs in Las Vegas?

With perhaps one or two exceptions, it is the responsibility of the seller to pay all closing costs in Las Vegas. This includes commissions, appraisal fees, and all other closing costs that you will encounter before you can move into your new house.

What Fees Do You Have to Pay When Selling a House in Las Vegas?

When selling your house in Las Vegas, you have to pay the following fees:
• Commissions
• Appraisal fees
• Courier
• Escrow
• Form 1099
• Home Warranty Plan
• Nevada Transfer Tax
• Pest Inspection
• Re-conveyance Fee
• Recording Fee
• Staging Fees
• Tax Service
• Title Insurance Fee

What are the Average Closing Costs for a Seller in Las Vegas?

The closing costs for a seller in Las Vegas are considerable. On average, you should expect to pay approximately 2% of your final sale price in closing costs. Considering the average sale price of a property in Las Vegas is currently $324,000, you can expect to pay an average of $6,480 in closing costs.

Selecting a Real Estate Agent to Sell Your Home

When it comes to selecting a real estate agent to sell your home, you need to find a company that has your best interests at heart and will leave no stone unturned when it comes to completing the sale of your property. You also need to work with an agent that knows the Las Vegas market, as well as the state requirements, to make sure your sale is legal and above board.

As you can see, selling your house isn’t cheap, so you need to make sure you do all you can to work with experts who will help you fetch the maximum price for your home to ensure you don’t lose a sizeable chunk of your profit to closing costs and other associated fees that come with selling your house. 

Talk to a Las Vegas Real Estate Agent About Selling Your Home

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