The total cost of selling land by owner (FSBO) in Oklahoma depends on several factors, including the value of the property, the complexity of the transaction, and whether you choose to engage the services of a real estate attorney. However, as a general guideline, you can expect to pay between 2% and 6% of the sale price in closing costs.
Here is a breakdown of the average closing costs for selling land by owner in Oklahoma:
- Documentary stamp tax: 0.75% of the sale price (paid by the seller or buyer, as negotiated)
- Title insurance: $300 to $400
- Recording fees: $20 to $35
- Attorney fees (if using an attorney): $500 to $1,000
- Marketing expenses: $100 to $500
In addition to these closing costs, you may also need to pay for professional services, such as land surveying and property inspections.