
09-10-2014, 01:04 AM
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Quote:
Originally Posted by Phanatic Luvr
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!
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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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