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Answers (5)
- Matt Pickett, "Colorado_Springs"
- Contributions:379
you should figure around 1% of the selling price but have a cushion
- Jim Todd, "jimtoddhomes"
- Contributions:3
Great questions!
You can start w/ the title company and ask for a preliminary HUD to see where costs come out. If you are working w/ an agent, ask for an estimated cost worksheet.
We use an excel spreadsheet and with just by adding a few numbers we have those costs right at our fingertips.
Good luck!!
Jim Todd
You can start w/ the title company and ask for a preliminary HUD to see where costs come out. If you are working w/ an agent, ask for an estimated cost worksheet.
We use an excel spreadsheet and with just by adding a few numbers we have those costs right at our fingertips.
Good luck!!
Jim Todd
- mckylie
- Contributions:5034
Just out of curiosity, if you are asking this question - why didn't you have a Real Estate Agent assisting you to sell your house? Did the buyers have one? If so, they might be willing to help you out with some questions. But if you already have a contract on the house and the closing cost is not in writing for them to assist then it's too late!
- Steven Weigensberg, "Steven Weigensberg"
- Contributions:2
Hi Fasthelp,
Great question.
You'll need to contact a real estate attorney to assist with deed preparation, recording and ensuring all lien holders are satisfied.
The amount of closing costs will vary based on how many liens (if any) are recorded, deed preparation, deed recording, title review and a few other factors. The closing attorney can assist you will all this. Remember, you are responsible for providing clean title with no defects.
Also, be sure that the buyers were advised of any known issues with the home, if you didn't provided this, they may come back. Also, all federal disclosures should have been provided. Even though you are not a broker, you are still responsible for all seller requirements.
With regards to paying your closing costs, if this wasn't agreed upon before the contract was fully executed, you may be asking for trouble. The buyers might agree to it, but they may also be upset and push back. My suggestion is if you have an able buyer contracted, take you're lumps, close and move on. The unfortunately reality is that buyers don't care about how much you are losing. Its just business.
Hope this helps,
Steve
Great question.
You'll need to contact a real estate attorney to assist with deed preparation, recording and ensuring all lien holders are satisfied.
The amount of closing costs will vary based on how many liens (if any) are recorded, deed preparation, deed recording, title review and a few other factors. The closing attorney can assist you will all this. Remember, you are responsible for providing clean title with no defects.
Also, be sure that the buyers were advised of any known issues with the home, if you didn't provided this, they may come back. Also, all federal disclosures should have been provided. Even though you are not a broker, you are still responsible for all seller requirements.
With regards to paying your closing costs, if this wasn't agreed upon before the contract was fully executed, you may be asking for trouble. The buyers might agree to it, but they may also be upset and push back. My suggestion is if you have an able buyer contracted, take you're lumps, close and move on. The unfortunately reality is that buyers don't care about how much you are losing. Its just business.
Hope this helps,
Steve
- Brian Teyssier, "Brian Teyssier GRI"
- Contributions:964
Thanks for your question. These are all things a Realtor handles and is the reason you should have hired one. In the accepted bid is where the closing costs are included, it is too late now. Maybe contact the closing company that is going to handle the transaction for your closing costs.
Good luck.
Good luck.
House sold need to know what I do now and my selling cost?
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