The Number Sellers Forget to Calculate
Most sellers focus on sale price as the measure of success. The real number is net proceeds — what's left after closing costs, commissions, and outstanding mortgage payoff. Understanding the full closing cost picture before listing prevents the unpleasant surprise of proceeds $25,000–$50,000 less than expected.
Denver Seller Closing Cost Breakdown
| Cost Item | Typical Amount | Notes |
|---|---|---|
| Real Estate Commission | Negotiable (4–6% total) | Split between listing and buyer's agent |
| Owner's Title Insurance | ~0.4–0.6% of sale price | Seller typically pays in Colorado |
| HOA Disclosure Documents | $300–$600 | Condo sellers only |
| HOA Transfer Fee | $150–$500 | Condo sellers only |
| Real Estate Transfer Tax | None | Colorado has no transfer tax |
| Property Tax Proration | Varies by closing date | Seller pays taxes through closing date |
| Agreed-Upon Repairs/Credits | Varies | Result of inspection negotiation |
| Outstanding Mortgage Payoff | Your balance | Confirm prepayment penalty with lender |
Good News: Colorado Has No Transfer Tax
Unlike Illinois — which has a state transfer tax plus Chicago's own transfer tax totaling approximately 1.5% of sale price — Colorado has no real estate transfer tax at state or Denver city level. On a $600,000 sale, Chicago's transfer tax would cost approximately $9,000. In Colorado, that cost is $0.
Can I negotiate the commission?
Yes. Real estate commissions in Colorado are fully negotiable. The recent NAR settlement changes also affect how buyer's agent compensation is structured. Discuss commission structure with Colton upfront — the goal is maximum net proceeds.
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