Total Cost to Sell a $700,000 Home in Reno, Nevada

Selling a $700,000 home in Reno will cost between $24,500 and $38,500 in total, before mortgage payoff. As at every price point, commission drives most of that range — closing costs and pre-sale expenses are comparatively fixed and total roughly $4,500–$5,200 for a home this size.

Commission: The Variable That Matters Most

Commission is paid from sale proceeds at closing and has two parts: the listing agent's fee and any buyer's agent compensation the seller offers. Since the August 2024 NAR settlement, offering buyer agent compensation is optional — but most Reno sellers at this price point still offer it, since it keeps the buyer pool as wide as possible in a market where well-priced homes above $650,000 move more slowly than starter homes.

At $700,000, the gap between a 3% and a 1.5% listing commission is $10,500 — enough to cover a full staging budget, a pre-listing inspection, and repairs, with money left over. The service on both sides of that gap is identical: pricing strategy, professional photography, MLS exposure, negotiation, and transaction coordination through closing.

Closing Costs at $700,000

Nevada seller closing costs at this price point typically break down as follows:

• Owner's title insurance policy: $1,600–$2,400
• Escrow and settlement fee: $1,000–$1,600
• Recording fees: $150–$250
• HOA transfer fee (if applicable): $200–$500
• Prorated property taxes: Varies by closing date and county tax rate
• Home warranty offered to buyer (optional): $450–$700

Nevada has no state real estate transfer tax, which is a meaningful savings on a $700,000 sale compared to states that charge a percentage of sale price at the county recorder. These fees are the primary non-commission costs due at closing.

Pre-Sale Costs to Factor In

Homes in this range are often bought by move-up buyers with higher expectations for condition and presentation. Pre-sale investment tends to matter more here than at lower price points.

• Pre-listing repairs and touch-ups: Highly variable — condition-dependent, but move-up buyers notice deferred maintenance quickly
• Professional staging: $2,000–$4,500 for full staging; partial staging of key rooms is a common middle ground
• Pre-listing inspection: $450–$650 — identifies issues before a buyer's inspector does, avoiding late-stage renegotiation

Sellers who invest in condition and presentation before listing tend to see fewer buyer repair requests and cleaner, faster closings — a meaningful factor at a price point where each transaction carries more dollars at stake.

What You Net at Closing

Working from a $700,000 sale price, here's what net proceeds look like under two commission scenarios, before mortgage payoff:

• Traditional 5.5% total commission + $5,000 closing costs: Net proceeds ≈ $656,500
• 4% total commission (1.5% listing + 2.5% buyer agent) + $5,000 closing costs: Net proceeds ≈ $667,000

The $10,500 difference comes entirely from the choice of listing agent — both scenarios assume identical sale price, buyer agent compensation, and closing costs. Net proceeds after mortgage payoff depend on your remaining loan balance, which is separate from the figures above.

Nevada's Tax Advantage at This Price Point

Nevada has no state income tax and no state capital gains tax. For sellers of $700,000 homes — often owners who've been in Reno through the area's roughly 80% appreciation over the last five years — that means no state-level tax on the gain, regardless of size. Federal capital gains rules still apply, including the $250,000/$500,000 primary residence exclusion for qualifying sellers, but Nevada doesn't layer a second tax on top. Compared to a seller of the same home in California, that difference is substantial.

OPL Realty offers a free home valuation and net proceeds estimate for Somersett, Damonte Ranch, and other higher-value Reno neighborhoods. A 15-minute consultation gives you the full picture before you decide anything.