Closing costs and selling property

Question

I am selling a piece of land with an old wood frame house on it. This will be a cash deal. Are there any closing costs that I will have to take care? I understand that Title policy has an amount to it as well. I would just like to know what I am responsible for as far as costs. closing, title policy, survey, etc...

Answer 1

If you are doing this on your own and using an escrow company or an attorney, ask them for an estimate of their charges involved in closing this.  If you are using a real estate agent - ask them.........  If you are not using any of these.... you should think about it..... you want to make sure all necessary documents are prepared and recorded and done correctly.

Answer 2

$600 title insurance

$250 escrow fee (paperwork)

$20 recording fee

$150 payoff if you have a loan  

$40 if any papers have to go out of state

$350 if the buyer demands that you pay for an appraisal

$150 if you have an HOA (unlikely)

$300 for your final property tax bill which isn't ready until Sept.

$400 if the buyer makes you pay for a boundary survey.

THen you hit the road. /

Answer 3

This will vary greatly by area.  There may be items, as the seller, you are obligated to pay for.  A call to a title and escrow company will give you a clearer picture of what your obligations are.