Closing cost help please
I am about to get a contract ona property. The owner likes my offer but asking who is paying closing cost. I am doing an assignment of contract and profit margin is just right.
Can someone break down the closing cost and tell me what I should pay, what he shoud pay. What is the most expensive among the items in the closing cost(tax, recording,...)?
thanks alot in advance ...
I assume you are doing cash contract. If that is the case and you are flipping the contract, then here is the list of closing cost and who usually pays them:
- title search (buyer)
- title insurance (seller)
- recording fee (buyer)
- State doc stamp (seller)
- closing fee (split)
However, you can negotiate anyway you like. This is what I use when planning to flip. Good luck ....