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bliss | Who pays for insusurance, title, taxes at the closing? |
What is the seller expected to pay and the buyer? |
 |
 
Colette F
 |
the buyer is soposed to buy the thing and then they move om with their life
you sould do the same |
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MARCIA S
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alot of times the selle will pay but it is left up to the buyer |
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venicefloridarealtor
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During the process of negotiating the sale, who pays closings costs is part of the negotiating.
If you, as the buyer, are asking for a deep discount on the listing price, it will be harder for you to ask for even more - for the seller to pay closing costs.
If you, the buyer, are making a fair offer on the house, you could ask for help on the closing costs.
Typically, in Venice, Florida, the buyer pays bank and mortgage fees (including doc stamps and intangible taxes on the mortgage, if there is one), title insurance and survey costs, homeowners insurance, and real estate taxes and any association fees from the date of closing through the end of the calendar year.
The seller pays doc stamps (approximately $7 per $1000 of the sale price), plus real estate taxes and and any association fees from January 1 through the date of closing.
I hope that helps!
Good luck and best wishes. |
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dognuts36
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The buyer does at closing because now you own the property unless on land contract .then the seller maintains insurance title and taxes there is times when the sller will pay closing cost as favor and they get happy because they are out from under morgage. |
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Darby
 |
Insurance and title, I believe, would be the buyer, taxes prorated between the two. I'd double check with a title company or see what your State rules are. You may be able to view a closing sheet on the internet. I think it's a HUD form. |
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Fuzzybutt
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The buyer us sally pays for all and it is combined in
your mortgage loan
you can negotiate the seller to pick up some off it. |
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stephanie m
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Sometimes the seller,sometimes the buyer,usually both pay .
My closing was $7000 the law in GA says he could not pay over $4200 dollars so I had to come up with the rest. |
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Ken
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This varies by locale but you can write the contract however you would like. It is my opinion that title insurance should be paid by the seller but many areas of the country generally assign this cost to the buyer. You are insuring against problems with their title, they should pay it. Taxes are generally pro-rated at closing to apportion those before closing to the seller and post-closing to the buyer. For a complete list of closing costs and how they are apportioned, ask your realtor for a HUD-1. If you are not to the point that one can be prepared for you, you can see a sample HUD-1. |
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matsonb
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The standard contracts for this are different in every state. Check with your Realtor or Title Company you will be using. Every contract is negotiable, so do you best to get the seller to pay for everything... if they need to sell their home, they will do it. http://www.choicerealestate.net/ |
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bobbydigits
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Normally, it would be the buyer who pays all of these. But this is all always negotiable. |
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FALL
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The buyer pays for down payment, loan fee (points), attorney's closing fees, title insurance policy, transfer tax, property tax (pro-rated), homeowners insurance policy, credit report, appraisal, closing costs.
The seller pays mortgage payoff, title insurance policy, attorneys closing fees, pro-ration of property tax, prepayment penalty (if any), closing fees, brokerage (if needed), repairs (if negotiated).
These can vary by contract, local laws, etc. |
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julez
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Generally the seller pays approx 5-6% of closing costs for the parties. |
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floridadiesel
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What is "insusurance"? |
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It's a girl due 5/11/09
 |
Buyer~expected to pay closing costs to their attorney and 1st year insurance, the bank may require a certain amount down, and home inspection.
Seller~ Pays their attorney fees and real estate fees. |
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smelly pig
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of course the one who rents the house including his or her family |
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