What Expenses To Expect When Selling Your Home
Cost may vary from state to state but in our are a the seller is responsible to pay pro-rated taxes, transfer tax, commission, and deed preparation. Many times a buyer will ask the seller to pay closing cost. It is very important that you put a limit on the closing cost because some mortgage company have very high closing cost and that can be a problem at closing.
Another thing that can happen before closing is repairs. Most every buyer (which I recommend) will have a home inspection. The inspection is to be done in a pre-determined time frame when the purchase agreement is written and if there are major deficiencies the buyer must give the seller a copy of the inspection report and make his request in written as to how he want the repairs handled. If there are major deficiencies then you will negotiate to have the repairs done. The seller has the option to make the repairs, credit the buyer in an amount equal to make the necessary repairs or the seller can sell “as is” in which case buyers may elect to buy “as is” or buyer may declare the contract null and void. After repairs have been made the buyer has the right to make a final inspection before closing.