What is the seller expected to pay and the buyer?
2007-10-15 03:35:29 · 15 answers · asked by bliss 1 in Business & Finance ➔ Renting & Real Estate
the buyer is soposed to buy the thing and then they move om with their life
you sould do the same
2007-10-15 03:38:43 · answer #1 · answered by Anonymous · 0⤊ 3⤋
During the process of negotiating the sale, who pays closings costs is part of the negotiating.
If you, as the buyer, are asking for a deep discount on the listing price, it will be harder for you to ask for even more - for the seller to pay closing costs.
If you, the buyer, are making a fair offer on the house, you could ask for help on the closing costs.
Typically, in Venice, Florida, the buyer pays bank and mortgage fees (including doc stamps and intangible taxes on the mortgage, if there is one), title insurance and survey costs, homeowners insurance, and real estate taxes and any association fees from the date of closing through the end of the calendar year.
The seller pays doc stamps (approximately $7 per $1000 of the sale price), plus real estate taxes and and any association fees from January 1 through the date of closing.
I hope that helps!
Good luck and best wishes.
2007-10-15 03:47:09 · answer #2 · answered by venicefloridarealtor 4 · 0⤊ 0⤋
The buyer does at closing because now you own the property unless on land contract .then the seller maintains insurance title and taxes there is times when the sller will pay closing cost as favor and they get happy because they are out from under morgage.
2007-10-15 03:46:12 · answer #3 · answered by dognuts36 2 · 0⤊ 0⤋
This varies by locale but you can write the contract however you would like. It is my opinion that title insurance should be paid by the seller but many areas of the country generally assign this cost to the buyer. You are insuring against problems with their title, they should pay it. Taxes are generally pro-rated at closing to apportion those before closing to the seller and post-closing to the buyer. For a complete list of closing costs and how they are apportioned, ask your realtor for a HUD-1. If you are not to the point that one can be prepared for you, you can see a sample HUD-1.
2007-10-15 03:41:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Sometimes the seller,sometimes the buyer,usually both pay .
My closing was $7000 the law in GA says he could not pay over $4200 dollars so I had to come up with the rest.
2007-10-15 03:41:59 · answer #5 · answered by stephanie m 3 · 0⤊ 0⤋
Insurance and title, I believe, would be the buyer, taxes prorated between the two. I'd double check with a title company or see what your State rules are. You may be able to view a closing sheet on the internet. I think it's a HUD form.
2007-10-15 03:40:44 · answer #6 · answered by Darby 7 · 0⤊ 0⤋
The buyer us sally pays for all and it is combined in
your mortgage loan
you can negotiate the seller to pick up some off it.
2007-10-15 03:39:05 · answer #7 · answered by Fuzzybutt 7 · 0⤊ 0⤋
Generally the seller pays approx 5-6% of closing costs for the parties.
2007-10-15 03:38:56 · answer #8 · answered by julez 6 · 0⤊ 2⤋
Buyer~expected to pay closing costs to their attorney and 1st year insurance, the bank may require a certain amount down, and home inspection.
Seller~ Pays their attorney fees and real estate fees.
2007-10-15 03:40:22 · answer #9 · answered by It's a girl due 5/11/09 4 · 0⤊ 2⤋
alot of times the selle will pay but it is left up to the buyer
2007-10-15 03:38:50 · answer #10 · answered by MARCIA S 2 · 0⤊ 0⤋
The standard contracts for this are different in every state. Check with your Realtor or Title Company you will be using. Every contract is negotiable, so do you best to get the seller to pay for everything... if they need to sell their home, they will do it. http://www.choicerealestate.net/
2007-10-15 06:30:52 · answer #11 · answered by Anonymous · 0⤊ 0⤋