i have a small home want to sell to someone who will pay cash. Do i need an agent? What are all possible fee? Can i minimum the fee on both side buyer and seller?
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Do you already have a buyer ? If so no reason to hire an agent. If not you might want to hire one or you could try CL
CLOSING COSTS - Here in MO - seller has to pay about $300 @ closing plus any required inspections (usually gas and municipal) Buyer pays closer to $500-$1K with title insurance.
Before any realtors/brokers come in to harass you, I'll say this: If you're worried about issues at closing, hire a real estate attorney at a flat fee to handle all the paperwork for you.
TheRealRayCharles said:BPANZER1 said: Here in MO - seller has to pay about $300 @ closing plus any required inspections (usually gas and municipal) Interesting, what sort of municipal inspections take usually take place prior closing?Some localities require the issuance of a property transfer stamp. That stamp won't be issued until a transfer tax is paid and until after a city inspector examines the property for zoning or subdivision violations and until after the city verifies that all money owed the city has been paid.
When we sold our last place in Cook County, the city inspector would not let the transfer stamp be issued until we moved a kids climbing structure 1' farther away from the property line. Our transfer tax in that suburb was only $2 per $1,000.
In Chicago, the transfer tax is just over 1% of the sales price ($10.50 per $1,000).
Transfer taxes/stamps and sales inspections vary by locale.
Message edited by: Xnarg on 2009-09-22 15:54:32 CDT
If you are only willing to sell to people without agents you will vastly decrease the number of potential buyers as most people have a buyers agent. Now you will not get as good a price if less potential buyers but will not have to pay 3% to agent.
BPANZER1 said:Do you already have a buyer ? If so no reason to hire an agent. If not you might want to hire one or you could try CL
CLOSING COSTS - Here in MO - seller has to pay about $300 @ closing plus any required inspections (usually gas and municipal) Buyer pays closer to $500-$1K with title insurance.
dealkk said:BPANZER1 said:Do you already have a buyer ? If so no reason to hire an agent. If not you might want to hire one or you could try CL
CLOSING COSTS - Here in MO - seller has to pay about $300 @ closing plus any required inspections (usually gas and municipal) Buyer pays closer to $500-$1K with title insurance.
i already know the buyer.
Then you don't need the agent, their job is primarily to bring a buyer and seller together.
You should get a real estate attorney as others have mentioned. They should be more familiar with the cost of transferring property in your locale (ie what fees there are and which side pays for what).
ShaftSlinger said:skip the real estate attorney and call up a few title houses. They will handle the paperwork for you an its included in theyre fee. Its the way to go.Bad advice, the Title Company does not work for you, they have no reason to look out for your best interest. Get a Real Estate Attorney
dealkk said:i have a small home want to sell to someone who will pay cash. Do i need an agent? What are all possible fee? Can i minimum the fee on both side buyer and seller?
germanpope said:dealkk said:i have a small home want to sell to someone who will pay cash. Do i need an agent? What are all possible fee? Can i minimum the fee on both side buyer and seller?
how are they going to deliver the cash?
Duffel bag. Small unmarked bills. Corner of 5th and Main. Midnight. Come alone.
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