Home Selling in Round Rock>Question Details

Lynn Jones, Home Buyer in Las Vegas, NV

I am selling my home to a friend with no real estate agent involved. What will I have to pay as the seller at closing?

Asked by Lynn Jones, Las Vegas, NV Mon Nov 12, 2012

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I apologize, I didn't answer your question. My friend and I agreed to split the closing costs because the land was sold to me at a reduced price. But, my lender told me that normally the seller pays the closing costs...
0 votes Thank Flag Link Wed Dec 5, 2012
Three years ago I bought acreage from a close friend without an agent. We had a basic contract drawn up by an attorney but probably could have generated our own. My loan company and the title company reviewed and approved the contract so it was a fairly simple process. I went to the court house to obtain copies of the plat. A new survey was required but we were able to have that performed with no problems... It may be more leg-work for you but it is less expensive in the "long run".
0 votes Thank Flag Link Wed Dec 5, 2012
I would speak with a title company and find an agent to pay a flat fee to help with the contracts. Things can get messy fast and friendships can be lost.

Best of luck to you,

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes Thank Flag Link Sun Nov 18, 2012
It depends on your contract.
Probably best to take it to the title company and let them prepare a sample HUD statement for you.
0 votes Thank Flag Link Mon Nov 12, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Lynn,
everything is negotiable, your costs depend on what have you and buyer agreed to pay, some costs out there are Title Insurance, Attorneys Fees, HOA's etc. I repeat all this is negotiable.

By the way! are filing out the mandatory Sellers Disclosure Statment? I'd be happy to provide you these forms at no cost, feel free to call me at 512-289-5312.

Carlos Flores
0 votes Thank Flag Link Mon Nov 12, 2012
Not much. Title insurance, home warranty, hoa transfer fees, and escrow fees - probably less than $2000. I would still consider getting an intermediary real estate agent to make sure you dot your i's and cross your t's. A lot can happen during a real estate transaction and hiring a licensed expert to handle the documents and procedures can ensure a smooth transaction and in some cases save a friendship. It probably wouldn't cost as much as you think either.
0 votes Thank Flag Link Mon Nov 12, 2012
You will pay whatever costs are stipulated in the contract.
0 votes Thank Flag Link Mon Nov 12, 2012
I suggest you contact a title company and ask for typical fees. Of course, it would be nice for you to give them your transaction to close also. I'd be pleased to help with their loan application.
Barbara Coker
NMLS#228545
Licensed Mortgage Loan Officer
100% HOme Loans All Over Texas
Web Reference: http://www.thecokerteam.com
0 votes Thank Flag Link Mon Nov 12, 2012
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