Home Selling in McAlester>Question Details

Hopeful, Both Buyer and Seller in McAlester, OK

Finally we got an offer and are under contract. What fees as a seller am I required to pay?

Asked by Hopeful, McAlester, OK Tue Jun 16, 2009

Realtor gave me an estimate of costs like attorney fees and document stamps but now has called and says I need to pay $300 for abstract but that wasn't on the written estimate she gave me. Also who pays for termite inspection?

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The buyer has a right to do inspections and if they are done at the buyers request, the BUYER is responsible for those charges. This is a cost that you should not incur... unless it is written in your contract that you will pay for certain buyers closing costs. Your Realtor probably gave you an "Estimate of Net to Seller" sheet. The problem is it is just an estimate and she may have left of certain fees, you can ask the title company for a list of normal seller fees and buyers fees to compare. You should receive a copy of the HUD typically 48-24 hours before closing and it will contain the exact amounts that you will pay and the exact amounts that the buyer will pay. If you notice anything abnormal or if there is something on the HUD that indicates you are paying for it but you did not agree to it in your contract, tell your Realtor and the title company.
Good Luck!
1 vote Thank Flag Link Tue Jun 16, 2009
It depends.... What type of financing does the buyer have? Did you agree in the contract to pay for any of the buyers closing fees?
1 vote Thank Flag Link Tue Jun 16, 2009
They are financing thru Rural Development and I specifically told my realtor we would not pay any of their closing costs. I was shocked to learn they only had to put up $250 earnest money when we had to put down $1000 5 yrs ago when we bought the house and, we have excellent credit. Anyway, the print out of estimates we were given mentioned as I said attorneys fee, realtors commission, documentary stamp fee but nothing about mortgage or abstract fees of $300. We were told there is a termite inspection and home inspection scheduled for Friday morning. Who pays this?
0 votes Thank Flag Link Tue Jun 16, 2009
Good AM Hopeful,
Ask your Realtor for a new copy of your net to seller, it should have all the costs broken down.

READ your contract from top to bottom.

Are you assisting the buyer with closing costs? This could cover the abstracting and the inspections costs. Ask your Realtor or Title company!
0 votes Thank Flag Link Tue Jun 16, 2009
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