What does it cost to sell a house in Richmond, VA?

What are the line items?

Listing commission. Negotiated between you and your listing brokerage and stated in the listing agreement. It is the largest cost and it is not fixed by law or by any association.

Buyer-agent compensation. Optional since the August 2024 NAR settlement changes; it cannot be advertised on the MLS and is negotiated in each offer. Most Richmond-area sellers still offer some amount because roughly nine in ten buyers are represented, and a buyer whose agent is not being paid by the seller must pay from their own funds — which reduces what they can offer you. Treat it as a pricing decision, not a fee.

Virginia grantor tax. $0.50 per $500 of the sale price (0.1%), paid by the seller at settlement. Some localities in Northern Virginia add a regional transportation tax; Richmond-area localities do not.

Settlement and title. Settlement agent fee, deed preparation, release of your existing deed of trust, wire and courier fees. Typically $500–$1,500 combined in the Richmond market. Owner’s title insurance is normally a buyer expense in Virginia.

Prorations. Property taxes and any HOA dues are prorated to the closing date; depending on when you close you may owe or be credited.

Repairs and credits. After inspection, buyers ask for repairs or a credit. In the current Richmond market sellers typically concede $1,000–$5,000; on older homes with deferred maintenance it can be more. Pre-listing inspection can shrink this number.

Prep and staging. Optional but often the best return on the list: cleaning, paint, minor repairs, and staging where the home is vacant. $500–$5,000 depending on condition.

What does a $400,000 sale look like?

Item	Assumption	Cost
Listing commission	Negotiated with your agent	Varies — ask for it in writing
Buyer-agent compensation	Offered at a negotiated rate	Varies — your decision per offer
Virginia grantor tax	0.1% of $400,000	$400
Settlement, deed prep, release	Typical Richmond settlement	$900
Repairs / credit after inspection	Median concession	$2,500
Prep (paint, clean, minor repairs)	Occupied, well-kept home	$1,200
Total excluding commissions		≈ $5,000

Add the two commission lines to that figure to get your all-in cost; with typical Richmond-area rates on both sides the total lands in the 7–9% range, or $28,000–$36,000 on this example. Your net proceeds are the sale price minus that total minus your mortgage payoff. We put this on a written net sheet before you sign a listing agreement so there are no surprises at the closing table.

How can I reduce what selling costs?

Price correctly the first time: homes that need a reduction sell for less than homes priced right at launch, and the difference is usually larger than any commission saving. Do a pre-listing inspection on older homes so repair negotiations are smaller and calmer. Negotiate commission on the basis of what you are getting — hours, marketing, broker involvement — rather than just the rate. And weigh buyer-agent compensation against the offers it brings in rather than treating it as a cost to eliminate.

Where do I get an exact number?

Request a home value and net sheet. We pull closed comparable sales for your specific neighborhood, estimate the sale price range, and itemize every line above for your property. It is free and carries no obligation. Current median prices for your area are on the market data pages.