Sellers often pay high dollars when it comes to closing costs. It's important to ask your real estate agent for net sheet so you know whether you will have to bring money to closing. A net sheet lists all the seller closing fees, usually net sheets are an estimate of closing costs required to be paid by the seller. Many sellers owe the bank or lender the balance remaining on their home loan. A seller must pay the loan in full to satisfy the mortgage. The sellers loan must be paid in full and other closing expenses paid before the seller will recieve any proceeds from the sale of their home. Here is a list of additional closing costs that are paid by the seller.
There may be additional closing costs that a seller may have to pay such as offering a buyer to pay a portion of their closing costs which is called seller concessions, home repairs, courrier fees, processing fees. If you are thinking of selling Central Florida property, call a professional, Gary Berkson. Gary Berkson a Re/MAX agent has listed and sold over a billion dollars worth of real estate throughout his longstanding real estate career.
While buyers and sellers negotiate for purchase price its not unheard of for real estate buyers and sellers to include closing costs as part of their negotiations. A limit is set in how much a seller can pay on behalf of the buyer and usually a home loan determines the maximum based on mortgage guidelines. Make sure if you need help with closing costs to let your real estate agent know. When buying a home usually a lender or mortgage broker will let you know the maximum allowable amount for closing costs that a seller is allowed to pay for the buyer and make sure you include that in your sales contract or purchase agreement.
There are certain closing costs that are prorated not only for the buyer but also for the sellers. Prorations always occur for property taxes due to the fact that property taxes are paid at the end of the year that they are assessed. If you are thinking of selling a Central Florida property contact Gary Berkson for all of your real estate needs. Gary has listed and sold over a billion dollars of real estate throughout his long standing career, contact Gary today.