Answers (8)
- Craig J. Townsend, "CraigersJT"
- Contributions:9
The usual answer is they are all negotiable, but the real answer is that the usual costs that are split between buyers and sellers are specific to the area your property is in and the loan progam that your buyer is using to purchase your property. For instance there is a difference between Southern CA and Northern CA on who pays what. Then there is the loan program your buyer is using, some loan progams like FHA and VA do not allow the buyer to pay certain fees. Typically the seller pays for their title policy, escrow fee, transfer taxes, HOA doc prep, attny fees. Any fees that have to do with "the transfer of the home" is typically the sellers responsability.
- Shannon Thomas, "sthomasrealestate"
- Contributions:286
Unless in the contract the Buyer would pay all of their own and you would pay yours. Talk with a title company and ask them to give you a hud 1 of typical fees and costs.
You won't see the Buyers fees because they are from the lender and the title company wouldn't know what they are.
We as Realtors usually use 3% of Purchase price to tell the buyer to expect in closing fees but that still is an estimate.
You won't see the Buyers fees because they are from the lender and the title company wouldn't know what they are.
We as Realtors usually use 3% of Purchase price to tell the buyer to expect in closing fees but that still is an estimate.
- Jim Trueblood, "JimTrueblood"
- Contributions:142
Everything is negotiable in every transaction. Typically the buyer will pay the cost of their loan (a lot of times sellers give an allowance and this is paid for out of the allowance). Most times the seller will pay the title insurance, pro rated property taxes, and the closing fee is typically split. All costs of the inspection are paid for by the buyer. Remeber, every single item is negotiable though.
- John King, "John_King"
- Contributions:440
As a For sale by owner... A good title company or real estare attorney would probably be your best resource. That would be a good conversation starter to introduce yourself, and start to interview them in the event you do sale your home.
- Scott A. Baldwin
- Contributions:125
Send me an email and I'll send over a list of typical costs, amounts, etc. I tried to type them in here but "far" exceeded the 2,000 character limit that is allowed....ha. I have an office in Noblesville and would be happy to help. And, I'm happy to just send over the "typical costs" sheet I have.
- Pat Baker, "PatBakerNeedhamAgent"
- Contributions:154
It depends on which state you are in. In Massachusetts the buyer pays for his attorney who may also be the bank attorney. He pays for title search and fees that the banks lists, what taxes have been pre-paid, if there is fuel in the oil tank. The sellers pays his lawyer, the final water bill, the final electric bill, final gas bill if there is gas, the fire department for a smoke and co2 certificate. The HUD statement will itemize by line item cost to buyer and seller and is generally gone over a few days prior to closing on the property. Banks have been busy lately due to all the foreclosuresand that has held up the HUD statement. HUD stands Housing and Urban Development
- Pete Cook, "Pete Cook"
- Contributions:145
Have a title company detail the closing costs and estimate traditional spits for all the different fees. It will give you a good reference for what is common..and like Christine said..everything is negotiable.
Pete
Pete
- Christine McDaniel, "Christine McDaniel"
- Contributions:420
All items would be negotiable for the most part. As a For Sale By Owner, you could get help online or at a library. Some title companies will help you with forms.
Good Luck
Good Luck
what cost should the seller pay? Buyer pay?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.