Home Sale Closing Costs

We recommend that you not place your residence on the market until Human Resources has received your signed offer letter and the relocation administrator has received the signed Relocation Agreement (UCN-21434, Word).

For reimbursement of home sale closing costs, you must own and reside at the lot and structure at the time of accepting the offer of employment. Closing costs plus duplicate homeowner costs up to 14% of the sales contract price may be reimbursed.

A signed or certified copy of the Housing and Urban Development (HUD) settlement statement is required for reimbursement of allowed closing costs. See the HUD website for more information.

Closing of the sale must occur no later than 2 years after you report to work.

Use the following list of common closing costs for the sale of a previous residence to determine what is allowable and can be submitted for reimbursement. Reimbursable receipted costs include but are not limited to the following:

• Advertising costs such as costs of newspaper, bulletin board, multiple-listing services, and other advertising for sale of residence, if employee has not paid for such services in the form of a broker’s fee or real estate agent’s commission
• Appraisal fees
• Document preparation/review fees
• FedEx, fax, courier, postage charges
• Inspection fees if customarily paid by seller (structural, pest, asbestos, radon gas, etc.)
• Legal, attorney, notary fees
• Mortgage and estate transfer taxes
• Mortgage pre-payment penalty
• Real estate commissions/brokerage fees
• Recording fees
• Settlement/closing fees
• Survey fees
• Title abstract fee (search and examination)
• Title insurance policy premium, in states where seller is required to pay and to the extent such costs have not been included in other residence transaction fees (documentation required from title company or real estate company)
• Transfer tax/fee imposed by law on the seller

Unallowable costs not reimbursable include but are not limited to the following:

• Costs of physical improvements intended to improve the condition or appearance of the previous residence
• Costs paid on behalf of the buyer
• Litigation fees
• Loss on the sale of the previous residence

If you have questions about the home sale closing costs, be sure to contact the relocation administrator.