Buyer closing costs are costs associated with obtaining a loan. This can be provided through the buyerâ€™s mortgage lender in the form of an â€œInitial Fee Worksheetâ€ (formally a â€œGood Faith Estimate).
The sellerâ€™s typically would provide the buyers with Ownerâ€™s/Mortgagee Title Insurance (giving the buyers good title to the property), pro-rated taxes & home owners insurance, recording of the deed, as well as, providing the buyers with a clear Wood Infestation Report and transfer of the bond (if one is in place). Additionally, the seller typically pays the REALTOR Â® fees.
However, in this market, we are seeing the sellerâ€™s paying some if not all of the buyerâ€™s closing costs. Most buyers do not have the money saved for 3.5% down payment & another 3/4% in closing costs. These costs are negotiable between the buyer & seller and not set in stone.
If you have any additional questions, please do not hesitate to contact me.... more
Well homes are selling in our area & although selling prices may be depressed the market here is better than some places, however you could consider leasing your property & building your new home since mortgage rates are hovering around 4% for well qualified borrowers. You might want to discuss this with possibility with your lender.... more
Trulia's website is for real estate professionals/realtors/brokers to post MLS listings. I think you can post your home on Craigs List without being a Realtor. Please consider listing with a Realtor to get the best exposure available.... more