Closing costs to seller on Washington State single family

[Mitch Dowler]

I have a single family investment property I may possibly be able to sell to the tenant. My family used to live in the property and when we upgraded it wasn't practical to sell at the time and it has been a break even as a rental. I want enough out of the property to pay off the mortgage and closing costs and this would give a modest below market savings to the tenant if we avoid Realtor commissions.

I have heard that I should allow 7% of the selling price to pay closing costs, does this sound reasonable accurate so I avoid bringing money to the table just to sell it?

Thanks for any advice on this.