Selling Primary Residence While In Iraq Have Questions.
First time I have sold a house. Having to use an agent because I am in Iraq. The problem is all the fees that acompany the sale. They want me to carry a Title policy for 915. Do I need this? Also they want me to have a survey done. I have a survey from last year when I bought the property will this work? They also want me to pay marketing fes of 175 above commission? I thought that was covered by the 6%.
Buyer wanted 1000 for allowances as well I was going to offer 500.
All of the things I could think of atm.
Any help would be great ty
Daryl
In Iowa, seller closing costs are around $500. This covers title work. I don't think it is normal to require the seller to get a title policy. This should probably be the buyer's responsibility.
Maybse someone on here is from texas and can give you a better idea.
The allowance that the buyer wants is all negotable. Rather than offering $500, increase your total purchase price.
I do think that the little extra junk fees ($175 marketing fee or the admin fee is what they call it here) is total BS but thats what they do and there is no way around it. If they didn't disclose this to you when you signed the purchase agreement, you may try to get your agent to pay for it.
Either way, I would probably just sell your home and be done with it. You won't have to worry about it anymore.
By the way, thanks for your help in Iraq!
A survery done a year ago is should still be acceptable unless there have been changes to the property since then - such as a pool, shed, or other permanent structure.
If the old survey is not usable it is usually the buyer that is responsible for paying for the new one.
Unless you agread to the other fees in writing, refuse to pay the marketing fee. They may need the allowances to get into the home with down-payment money. Raise the sell price buy 500 instead of getting rid of the allowance.
The title policy is standard, and is typically paid for buy the seller. It is in the sales contract who will pay for it but in every deal I have done it has been paid for by the seller.
Thanks for Defending on Country!!!