- Introduction
- Plan Your Program. Start Early
- Should You Sell?
- Steps before the Listing
- Selecting a Real Estate Agent
- Listing Contracts
- Real Estate Commissions
- For Sale by Owner
- Getting an Offer
- Negotiating Items
- Entering Into a Contract
- Hiring an Attorney
- Financing the Deal
- Seller Financing Alternatives
- Before the Closing
- Home Inspection
- Sample Closing Costs for Items Paid by Seller
- The Closing
- Bridge Loans
- Taxes
Closing costs around the country vary widely. Here are some of some of the items typically paid by the seller in conjunction with a home sale:
- real estate commission
- attorney's fees
- filing fees
- realty transfer taxes
- prorated adjustments
Survey
The buyer's lender may require that the property be surveyed (unless an acceptable certified survey already exists). This service is performed to determine and verify the boundaries and measurement of the property, and to certify its accuracy. Payment is the responsibility of the buyer.
Who Pays for What
In connection with the final transfer of ownership of the home from you to the buyer, you'll attend the closing and settle up on all charges. The document which summarizes the transaction is called the HUD RESPA closing statement. Get a blank RESPA form from your attorney to give you an idea of what one looks like. At the closing, your attorney will explain, in detail, the components of the RESPA statement as it applies to you.
SUGGESTION: Keep a list of what you anticipate the costs will be; use it as a guide when reviewing your RESPA form, and inquire about any items that look out of line.
- ARE NOT A DEPOSIT
- ARE NOT FDIC-INSURED
- ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- ARE NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.
