If you’re thinking about selling your Knoxville home without a real estate agent, you’re about to save yourself a massive chunk of money! Real estate agent commissions can eat up 5% to 6% of your sale price, which means you could pocket an extra $15,000 to $20,000 on a typical home here. Now, don’t get too excited thinking you’ll escape all costs. You’ll still face real estate closing costs. We’re talking about 2% to 5% of your home’s value. But compared to those realtor fees? This is definitely the way to go if you’re willing to handle things yourself.
What Are Closing Costs
Real estate closing costs are the price of making your home sale official and legal. You’ll have title companies making sure you actually own the place, attorneys handling paperwork, and government offices stamping everything with their approval. Some of these selling costs are set in stone. According to Homelight, Tennessee will charge you 37 cents for every $100 your home sells for. That’s non-negotiable. The same goes for recording fees at the courthouse.
But you can totally shop around for things like title insurance and attorney services. Different companies charge different rates, and some will even negotiate with you. The biggest difference when you ditch the real estate agent? You’ll become the project manager. We’re not going to lie. Real estate agents usually have their go-to people and handle all the phone calls.
Now you’ll get to do the legwork, but you’ll also get to pick exactly who you want to work with.
Have questions or want to learn more about closing costs and selling your house for cash? Read our other FAQs here for clear answers and helpful tips to guide you through the process.
Common Scenarios Where You Don’t Use a Real Estate Agent
There are different ways you might end up selling without an agent. Each one will hit your wallet differently, so you’ll want to know what you’re getting into.
For Sale By Owner (FSBO) Transactions
You’re going full DIY mode here! You’ll price it, you’ll make repairs, you’ll market it, you’ll show it, you’ll sell it. You’ll keep that 5% to 6% commission that would normally disappear into agent pockets. Your closing costs will stay pretty much the same as any other sale. It will still include title insurance, transfer taxes, and attorney fees.
The difference is you’ll now be paying for your own marketing. Professional photos, online listings, and yard signs all add up, but you’ll still be talking way less than agent commissions.
Direct Sales to Cash Buyers
Cash buyers are the express lane of home selling. They won’t go through all the mortgage drama, which means you’ll skip appraisal fees, lender requirements, and all that financing paperwork. You’ll be looking at one to two weeks to close instead of waiting around for a month or more.
You’ll still pay the government their transfer taxes and recording fees. Title insurance will still be smart to protect everyone involved. But cash buyers often handle their own closing costs, so your expenses will get even smaller.
Auction Sales
Auctions are nice, too. They’ll handle the marketing process for you. You’ll pay the auction house their fee (usually less than agent commissions), and they’ll bring the buyers to you. Plus, everyone knows they’re buying “as-is,” so you won’t have to deal with repair demands.
Private Party Sales
If you’re selling to someone you know, you need to outline who pays what. You can cover title insurance, and they’ll handle the attorney fees. Just make sure everything gets documented properly. You won’t want money issues ruining relationships!
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Complete Closing Costs When Selling Without an Agent in Knoxville, TN
Here’s a list of exactly what you’ll pay when you sell without an agent. These are the big-ticket items that’ll show up on your closing statement.
Transfer Taxes and Recording Fees
Tennessee will hit you with a transfer tax of 37 cents for every $100 of your sale price. That means, if you sell your home for $300,000, you’ll pay $1,110. There’s no getting around this one. It’s the state’s way of saying “thanks for doing business here.”
Recording fees vary by county, but you’ll typically pay $600 to $700 to make your sale official in the public records. Knox County specifically charges around $650 for most transactions. This fee covers getting all the paperwork filed correctly at the courthouse.
Title Insurance and Title Search Costs
You’ll want title insurance to protect your buyer from any ownership surprises down the road. In Tennessee, this typically runs about 0.56% of your home’s sale price. On a $300,000 home, that’s roughly $1,680.
The title search itself will cost you $150 to $300. This is when professionals dig through old records to make sure you actually own the property and there aren’t any hidden liens or legal issues. Most title companies bundle this with the insurance, but it’s worth knowing what you’re paying for.
Attorney Fees in Tennessee
Tennessee doesn’t require you to hire a real estate attorney. But honestly? You’ll probably want one anyway. They’ll charge you $150 to $350 per hour to review contracts and handle the legal side of things.
Most attorneys will offer flat-fee packages for simple sales. But you should expect to pay $800-$1,500 total for their services. It might seem like a lot, but one mistake in the paperwork could cost you way more than that.
Escrow and Settlement Fees
Your escrow company or title company will charge $300 to $600 to handle the closing process. They’ll hold onto earnest money, coordinate with lenders, and make sure everyone gets paid correctly on closing day.
Additional Costs When Selling Without Real Estate Agents
These expenses might not be huge individually, but they can cost you a fortune if you don’t prepare. You should plan for them now so you won’t get caught off guard later.
Home Inspection Fees
Even though you’re not required to get an inspection, smart sellers do it anyway. You’ll pay $400 to $600 for a professional to go through your home and identify any issues. This helps you price correctly and avoid surprises during negotiations.
Getting your own inspection also shows buyers you’re serious and transparent. They’ll appreciate knowing exactly what they’re getting into, which could help your home sell faster.
Appraisal Costs
If your buyer needs a mortgage, their lender will order an appraisal. The buyer usually pays for this, but sometimes sellers agree to cover it as part of negotiations. Appraisals in Knoxville run $300 to $500.
You might also want to get your own appraisal upfront to help with pricing. It’s not required, but it gives you solid data to back up your asking price when buyers start questioning your numbers.
Survey Fees
Property survey costs fees $250 to $800, depending on your lot size and complexity. This establishes exact property boundaries and identifies any encroachments or easements. Many buyers request updated surveys, especially on older properties.
Property Tax Prorations
You’ll owe property taxes up until your closing date. In Tennessee, property taxes are paid in arrears, so you might owe several months’ worth at closing. On a $300,000 home, expect $200 to $400 monthly in property tax obligations.
Don’t let extra fees and confusing steps slow you down. We buy Knoxville homes and other cities in Tennessee for cash and take care of the hard part, so you don’t have to.
Buyer-Related Closing Costs in Agent-Free Transactions
Just because you’re selling without an agent doesn’t mean your buyer won’t have their own costs. You should also know what they’ll face so you can negotiate better and close deals faster.
Lender Fees and Mortgage Costs
Your buyer will get hit with a bunch of lender fees that have nothing to do with you. We’re talking about underwriting fees, processing charges, and credit report costs. These typically run $2,000 to $4,000 total.
Yes, these aren’t your problem. But knowing about them helps when buyers ask for concessions or try to negotiate your price down. You can show empathy for their costs while standing firm on your numbers.
Loan Origination Fee
Most lenders charge buyers 1% of their loan amount as an origination fee. On a $250,000 mortgage, that’s $2,500 straight to the lender’s pocket. Some buyers will ask you to cover this as a seller concession. You can agree to pay it if you want to make the deal better. But remember, this comes directly out of your proceeds. Factor it into your negotiation strategy from the start.
Credit Report and Processing Fees
Buyers will pay $50 to $100 for credit reports and another $300 to $500 in various processing fees. These are small compared to other costs, but they can also balloon.
Hidden Fees and Unexpected Selling Costs
These are the costs that’ll sneak up on you if you’re not prepared. You should budget for them now to skip the stress later on.
Flat Fee MLS Listing Costs
Want your home on the MLS, where most buyers look? You’ll pay a flat fee of $100 to $500 to a company since you can’t access it directly. This is actually a steal compared to agent commission, and it gets your home in front of serious buyers. Some companies offer package deals that include professional photos and online listing services. Always check all your options because prices vary wildly. Some throw in extras that could save you money elsewhere.
Marketing and Advertising Expenses
Professional photos will cost you $300 to $500, but they’re super worth it. Homes with great photos sell faster than those with amateur shots, according to Redfin. The use of DSLR shots is also more enticing compared to phone cameras. You’ll also want to budget $200 to $400 for yard signs, online listing fees, and maybe some Facebook advertising. Don’t go crazy with marketing spend. A few hundred dollars in the right places will do more than thousands thrown at every platform. Focus on where Knoxville buyers actually look for homes.
Document Preparation Fees
Title companies and attorneys will charge $150 to $300 to prepare your closing documents. This covers drafting deeds, preparing settlement statements, and getting everything ready for signatures. Some charge this separately, others bundle it into their service fees. Ask upfront so you won’t get surprised with extra charges on closing day.
How to Minimize Closing Costs Without a Realtor
You’ve already saved thousands by skipping agent commissions. Now let’s trim the fat from everything else!
Negotiate Fees with Service Providers
Most service providers will negotiate their fees if you ask nicely. Call three different title companies and tell them you’re comparing prices. You’ll be amazed how quickly they’ll offer discounts to win your business.
Attorney fees are especially negotiable. Many lawyers offer flat-rate packages for simple sales. Ask about bundling services or getting a discount for paying upfront. The worst they can say is no, but you’ll often save $200 to $500 just by asking.
Shop Around for Title Companies
Title insurance rates might seem fixed, but service fees vary between companies. One company might charge $800 for closing services while another charges $400 for the exact same work.
Get quotes from at least three companies before making your choice. Don’t just look at the bottom line. Always ask what’s included in their fees. Some throw in document prep and notary services, while others charge extra for everything.
Identify Which Party Pays What
In Tennessee, many closing costs are negotiable between buyer and seller. You can offer to pay the buyer’s title insurance in exchange for them covering attorney fees. Be creative with these negotiations because it might help you close the deal faster.
Know the local customs, though. In some parts of Tennessee, buyers traditionally pay certain fees while sellers handle others. Going against the grain isn’t wrong, but it might make your home less attractive to local buyers.
Want to minimize closing costs without using a realtor? We buy houses in Maryville and nearby cities in Tennessee for cash, so you can skip the commissions, avoid hidden fees, and enjoy a smooth, stress-free sale.
Timeline and Deadlines for Closing Costs
Timing is everything when you’re handling your own sale. If you miss a deadline, you’ll watch your closing date slip away, along with your buyer’s patience (and potentially the entire deal).
Here’s when you’ll pay each cost:
Within 24 to 48 hours of accepting an offer:
- Attorney retainer fees ($200-$500)
- Title company setup fees ($100-$200)
7 to 10 days after the signed contract:
- Home inspection payment ($400-$600)
- Survey fees if requested ($250-$800)
2 to 3 weeks before closing:
- Title insurance premium (0.56% of sale price)
- Document preparation fees ($150-$300)
At closing (day of sale):
- Transfer taxes (37 cents per $100 of sale price)
- Recording fees ($600-$700)
- Attorney balance ($300-$1,000)
- Remaining title company fees
- Mortgage payoff (if applicable)
Your biggest deadline pressure comes from the buyer’s financing timeline. Their lender will order the appraisal within days of loan approval, and you’ll need all your paperwork ready to go. If the buyer’s financing falls through because you delayed getting documents to their lender, you’re back to square one with a house that’s been on the market longer. Title companies need two to three business days to prepare closing documents once they receive all required information. Rush orders cost extra, sometimes $200 to $400 more.
Work with Cash Buyers For A Cost-Effective Alternative!
Your time and peace of mind are what matter here. When you sell to a cash buyer, you’ll skip the stress of dealing with mortgage approvals that can fall through at the last minute. You won’t spend weekends hosting open houses. You won’t need to answer endless questions from people who aren’t serious about buying.
Your closing costs practically disappear, too! Cash buyers remove appraisal fees ($300 to $500), loan origination costs ($2,000 to $3,000), and all those lender-required inspections. You’ll close in one to two weeks instead of waiting 30 to 60 days while crossing your fingers that financing comes through. Many cash buyers even cover transfer taxes and title insurance, which puts another $1,000 to $2,000 back in your pocket.
Sure, you might get a slightly lower offer than market value, but when you factor in the saved cost, the numbers are still good.
Key Takeaways: Closing Costs Without a Real Estate Agent in Knoxville, TN
As we’ve shared in this blog, selling your Knoxville home without real estate agents will put $13,000 to $15,000 more money in your pocket, even after paying closing fees of 2% to 5%. However, you’ll handle transfer taxes, title insurance, and attorney fees yourself. If you apply the strategies we’ve shared in this guide, you can keep these expenses manageable. With Tennessee closing costs being lower than most states, your home could be sold with minimal hassle.
If you want to maximize your savings and remove the hassle entirely, get a free consultation with Southern Sky Home Buyers. We’ll handle all closing costs, buy your home as-is, and close in just days instead of months. Give us a call at (865) 249-0226 or fill out the form below to get a no-obligation cash offer on your Knoxville home.
