Ohio's transfer costs are low compared with Pennsylvania or New Jersey, but a few Ohio-specific items surprise Columbus sellers, especially the way property taxes are prorated. Here is what typically comes out of the price when you sell a house in Columbus or anywhere in Franklin County.
Conveyance fee: $3 per $1,000
Ohio charges a conveyance fee when a deed is recorded. In Franklin County it is $3 for every $1,000 of the sale price: $1 set by the state and $2 set by the county commissioners. On a $250,000 sale that is $750, plus a small per-parcel transfer tax. Under Ohio law the fee is paid by the person transferring the property, which is the seller. If the seller is receiving the homestead exemption at the time of transfer, Franklin County charges a reduced rate of $1 per $1,000.
Property taxes are paid in arrears
Ohio property taxes are paid behind: the bills you pay this year are for last year. That means at closing, the seller usually owes the buyer a credit for taxes that have built up but have not been billed yet. On a Columbus house this credit can be larger than people expect, often more than the conveyance fee. Your title company calculates it, and it shows up on the settlement statement. If you are behind on taxes, the delinquent amount is also paid from your proceeds.
Commissions, repairs and concessions
Listing with an agent means a listing commission and possibly a buyer-agent commission, depending on what you negotiate. Financed buyers usually inspect, and older Columbus houses, particularly in neighborhoods with early-1900s housing stock, tend to turn up roof, electrical, sewer line and foundation items that lead to repair requests or credits. Some Ohio municipalities also require a point-of-sale inspection, so check with the city where the house sits.
Carrying costs
Taxes, insurance, utilities, mortgage interest and lawn or snow care continue every month until closing. If the house is vacant, many insurance policies limit coverage after a period of vacancy, which can push you into a pricier vacant-dwelling policy. Estimate a monthly number and multiply by a realistic time to sell.
Comparing a cash offer
To compare, start with the likely list price and subtract commissions, repair credits and months of carrying costs, then compare to the cash offer's net. The conveyance fee and tax proration apply either way. We buy houses across Columbus and Franklin County as-is and put the full cost breakdown in writing.