Selling a Home in Virginia Beach › Closing costs and net proceeds
What it costs to sell a home in Virginia Beach.
Most sellers pay for agent compensation, state and regional transfer charges, settlement fees, and whatever repairs and credits they agree to. Here is what each one is, who decides it, and how a $475,000 sale adds up.
The short answer
What you keep is your sale price minus your mortgage payoff, your selling costs, and any repairs or credits you agree to. In Virginia Beach, sellers generally pay their own agent’s compensation, a grantor’s tax and regional fee that together come to about 0.16% of the price, and settlement charges. A seller may also be asked to pay the buyer’s agent’s compensation, and that is negotiated in the offer.
Seller costs
Every cost, and who decides it.
Some of these are set by law, some by your contract, and some by timing. Knowing which is which shows you where you have room.
| Cost | Amount | Who decides |
|---|---|---|
| Taxes and settlement | ||
| Grantor’s tax | 0.10% of the price $0.50 per $500, about $475 at $475,000 | Paid by the seller under Virginia law. The buyer can agree to pay all or part. |
| Hampton Roads regional fee | 0.06% of the price $0.06 per $100, about $285 at $475,000 | Paid by the seller under the statute. The buyer can agree to pay all or part. |
| Settlement, title and attorney charges | About $1,500 to $2,000 | The settlement company |
| Condo or HOA resale package | About $350 to $500 condos and HOAs only | The association |
| Negotiated costs | ||
| Your agent’s compensation | Set in your listing agreement | You and your agent, before you list |
| Buyer’s agent compensation | Part of the offer a seller may be asked to pay some or all | Negotiated in the offer |
| Repairs after the inspection | $0 to several thousand dollars | Negotiated after the inspection |
| Credit toward the buyer’s closing costs | Whatever you agree to such as 2%, or $9,500 at $475,000 | Negotiated in the offer |
| Termite and moisture letter | About $100 to $125 | The contract says who pays |
| Your existing obligations | ||
| Mortgage payoff | Your lender’s figure includes interest to the closing date | Your lender |
| Prorated taxes, HOA dues and storm water fees | A charge or a credit | Calculated from the closing date |
Amounts are typical ranges for planning, not quotes. Your settlement statement shows the actual figures. This page is general information, not legal, tax or financial advice.
A worked example
How a $475,000 sale becomes proceeds.
An illustration with made-up numbers. Your payoff, compensation, credits and fees will differ.
Assumptions: a $475,000 sale (close to the September 2026 median for detached homes, excluding waterfront and new construction) with a $250,000 payoff. Tax prorations, HOA or condo fees, repairs and your own payoff figure will change the result.
Where you have room
Three kinds of cost.
Set by rule
The grantor’s tax, the regional fee, your payoff and standard settlement charges. The goal is to use the right numbers in your estimate.
Negotiated
Agent compensation, repairs after the inspection, credits toward the buyer’s closing costs, and who pays for the termite letter. This is where your strategy changes the result.
Set by timing
Daily mortgage interest through the payoff date, plus prorated taxes, HOA dues and storm water fees. A closing date that slips moves these.
The transfer charges. Virginia sellers are generally responsible for the state grantor’s tax of $0.50 per $500 of value (Va. Code § 58.1-802). Localities in the Hampton Roads transportation district add a regional fee of $0.06 per $100 (§ 58.1-802.5). Virginia Beach, Norfolk, Chesapeake, Portsmouth and Suffolk are all in that district. Under both statutes, the grantor (the seller) pays the tax or fee, but the seller and buyer may arrange for the buyer to pay all or a portion of it. The regional fee is called the regional transportation improvement fee in the statute.
Go deeper
More on your numbers.
Questions
Seller closing cost questions.
What closing costs do sellers pay in Virginia?
The table above lists the usual ones. Which of them you actually pay is decided by your listing agreement and the purchase contract, so two sellers at the same price can pay different amounts. Your settlement statement is the final record.
How much is the grantor’s tax when you sell a home in Virginia Beach?
The rates are 0.10% plus 0.06%, which is about 0.16% in total. Your settlement agent calculates the exact amount, and the regional fee is based on the greater of the price or the property’s value, so the figure can differ slightly from a simple percentage of the price.
Do I have to pay the buyer’s agent in Virginia?
Not automatically. A seller who is asked to pay some or all of it can agree, decline or counter. Decide how you want to handle it with your agent before you list.
Is my net proceeds the same as my home equity?
No. Equity is your home’s value minus what you owe. Proceeds are what is left after selling costs, repairs and credits. Taxable gain is a third number, based on your cost basis, so ask a tax professional about it.
Can a buyer ask me to pay their closing costs?
Yes, and it is a common request. Unlike a price cut, a credit leaves the price the same and comes out of your proceeds at settlement. Compare offers by what you would keep.
Your next chapter
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