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2 answers

Aye a seller typically pays for all closing cost and the home inspection. The buyers just pays the commision to the real estate agent(s)

2007-12-06 13:19:58 · answer #1 · answered by Anonymous · 0 0

Usually, a seller pays for deed transfer tax and re-dating the property abstract of title. However, contracts can be written in any fashion to assign normal seller expenses to the buyer and vice versa.

In addition to fixed expenses of the sale, there can be (and often are) tax adjustments between both parties, since municipal and school taxes are billed at different times of the year. In my part of New York, school taxes are due July 1st, when the fiscal year begins, but aren't billed until September 1st, so a closing between July and September will result in the seller owing a school tax adjustment to the buyer (which is applied against the seller's credit for the municipal tax already paid).

2007-12-06 21:11:27 · answer #2 · answered by curtisports2 7 · 0 0

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