Is the SELLER responsible for any fees when using a title company?
2007-04-23 15:26:11 · 9 answers · asked by larechiga26 4 in Business & Finance ➔ Renting & Real Estate
You can delegate who pays closing costs, the seller or the buyer, talk to your mortgage guy, he should know about that. . You can even claim the seller will pay them, just adjust the sale price to cover them so the buyer actually is, just looks like the seller is on paper.
2007-04-23 15:31:09 · answer #1 · answered by pancakes & hyrup 6 · 0⤊ 0⤋
Many people have said you should check with the credit bureau to get it fixed, this obviously won't help you since you said in your question that it's not anywhere on your credit reports. Most likely, what happened, is that you have a common name or you are a Jr/Sr. What happens is if someone with your same name gets into trouble, that person's creditors can put liens on everybody in the city with that name. Sounds crazy, but I've seen it happen many times. The title company should be able to verify the social security number on the judgment, see it's not yours, and get it released. You will want to retain proof once they DO clear it up, since it is very possible it will come up again in the future.
2016-04-01 04:24:21 · answer #2 · answered by Mary 4 · 0⤊ 0⤋
FALSE
Fees are subject to negotiation between the parties. A lot of people assume that the usual and customary distribution of fees is mandated - at least in CA it is not.
Contact a real estate professional in your area for information on what is usual and customary.
Often, this information will also be posted on the websites on the title/escrow companies active in your area. Don't know where you are so can't give you a link...
Hope this helps!
2007-04-23 15:32:03 · answer #3 · answered by KConsults 3 · 0⤊ 0⤋
False.
It varies by area or state. But in no case would the buyer pay everything. Not a chance.
It's the seller's responsibility to provide clear title to the property. That means you pay for the title search and examination. And, there will be a title closer who handles your side of the closing. No buyer would pay that under any normal circumstance, ever. Not your deed taxes either.
Usually, the buyer pays for their own title insurance, but it is customary in some areas for the seller to pay for it on the buyer's behalf.
And I'd walk away from any seller who tried to get me as the buyer to pay their costs. Sellers regularly pay buyer's costs, but I've never seen the inverse. I don't even know if lenders would let a buyer pay them. It'd be easier to just raise the sales price and let you pay them from your increased proceeds. It'd be weird if any seller actually asked for buyer concessions.
2007-04-23 15:30:17 · answer #4 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 2⤋
A lot of times they say the buyers pays the "closing costs" but lower the amount of the purchase price. Or vice versa. Rasing the purchase price but seller pays closing costs. This one I've seen more often.
2007-04-24 13:56:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The seller ususally pays for the title search and policy.....Nuf Said
2007-04-23 15:29:04 · answer #6 · answered by Elo Fudpucker 5 · 0⤊ 2⤋
Customs vary by location. Best to check a local source.
Hope that helps!
2007-04-23 15:29:41 · answer #7 · answered by love2travel 7 · 0⤊ 1⤋
Both False.
Both negotiable.
Depends on which side of the table your on, use it to your advantage.
2007-04-23 15:51:53 · answer #8 · answered by SweetBrunette 5 · 0⤊ 0⤋
All is negotiable.
2007-04-23 15:29:32 · answer #9 · answered by Anonymous · 0⤊ 0⤋