CLOSING COSTS- Who PAYS for WHAT?
It's great when a house finally sells; and life takes the progression that have been anticipated while waiting for the RIGHT offer to come along.
FOR SELLERS A lot of preparation goes into dressing the home- giving it awesome curb appeal; getting rid of clutter; making it smell nice, and of course pricing it JUST RIGHT.
FOR BUYERS Countless hours of searching the internet; driving from house to house; becoming weekend road warriors; calculating the distance between the prospective property and work; checking out school zones, and then finally walking into a home, and realizing it's THE ONE.
Closing Costs-who pays for what
For all involved; the process can be very daunting; frustrating, and time consuming. When the pieces finally come together it can be a VERY good thing.
The key to maintaining your sanity is to determine your estimated closing costs ahead of time. These should be spelt out in the Purchase and Sale Agreement; however its a good idea to have an itemized list.
Closing Costs, and WHO PAYS FOR WHAT are usually as follows;
COSTS PAID BY THE SELLER
Documentary stamp taxes & surtax on deed; if any HOA/Condo Assn estoppel fees Recording & other fees needed to cure title Realtor fees/Brokerage handling fees
COSTS PAID BY THE BUYER
Taxes & recording fees on mortgage
Loan expenses/Property related insurance
Recording fees for deed & financing statements
Inspection fees (survey if required)
Appraisal fees/Lenders title policy & endorsements
HOA/Condo Assn application/transfer fees
Realtor fees/Brokerage handling fees
Attorney fees (if applicable)
NOTE- Contracts/Agreements vary depending on the State you're in, and most importantly contracts can be tailored between the parties involved depending on individual needs.
HOMES FOR SALE IN MIAMI & FORT LAUDERDALE FLORIDAhttp://www.floridamoves.com/default.aspx?abrand=83260&agent=83260
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