what does the seller have to pay?

Asked by Rhonda Green, Dothan, AL Sun May 20, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Bobby Dean, Agent, Dothan, AL
Sun May 20, 2012
Rhonda,
The seller will be paying for
Wood destroying insect inspection
Commission
Prorated taxes
If there is a mortgage--Express mail fee to obtain payoff
The payoff of the mortgage.
Sometimes a repair allowance
All other fees are negotionable as to who pays depending upon the type purchase loan
1 vote
Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Sun May 20, 2012
I am purchase transaction, all of the fees are the responsibility of the buyer. The buyer can negotiate for the seller to contribute toward closing costs and pre-paids. The limit will depend on the loan program.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes
Darrell D. D…, Agent, Schertz, TX
Sun May 20, 2012
Rhonda, that question is not as easy as "is the wall red or blue?" You can have 10 different transactions in which the seller pays 10 different items as many are negotiable. And the type of financing the buyer uses also plays into this as a VA buyer is not able to pay certain items that a conventional loan buyer can pay...because there are so many variables, I'll just give you a quick answer - typically a seller will pay any real estate commissions, prorated taxes from 1 Jan until closing, a potion of escrow fees based on Title Company, any negotiated closing cost assistance fees...Title Policy is negotiable, survey is negotiable, some recording fees and Title Company fees depending on the fees specific to the individual Title Company.....the Best Way to get a more accurate answer is to get with your agent and ask for a break down by sales price for a few different prices which can be broken down by payment (FHA, VA, Cash, Conventional, USDA if eligible, assumption, etc..)

Long answer and vague I know, but there are too many variables to give you a one word answer. Good Luck!
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more