Talk of The Villages Florida - View Single Post - Seller's share of Closing Cost
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Old 09-10-2014, 01:04 AM
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Bonanza Bonanza is offline
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Quote:
Originally Posted by Phanatic Luvr View Post
Seller's are also expected to pay for title insurance, showing the buyer that you have a clear title with no liens on your property. That is a state set fee based on sale price. My guess, besides the 6% commission, your title insurance is about $1,000. So far, there is $12,100. You will also have to pay doc stamps. You will receive a portion of your taxes back, as the buyer will have to give you a credit at closing for the portion they will owe, since you have already paid them for the year.
Good luck!
Sorry, but sellers are not necessarily expected to pay for title insurance. Who pays for title insurance is a traditional thing in each county and is also not set in stone. I don't know what county the OP lives in but you can always write into a contract (if it isn't pre-written in) under special clauses that the buyer is responsible for paying for the title insurance.

By the way, title insurance is not even necessary for closing when selling a property unles a mortgage is involved. Then the lender would require the buyer to have it. I will say, even if a mortgage is not involved, a buyer would be foolish not to have it.
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