Image: Ben Franklin Bill

What Are Your

Costs of Sale?

 

These are customary charges based on the type of loan used by the buyer for a residential purchase.

Remember:  Charges are negotiable between buyer and seller!

 

When Buyer Uses Cash or Conventional Mortgage

  • Documentary Stamps on Deed = 70 cents per $100 of Price
  • Broker’s Professional Fee = Fee-for-Service or Price Times ___%
  • Owner’s Title Insurance = Price Times 0.00575 + Approx. $250 for Search & Exam
  • Courier Fee = Approximately $25
  • Taxes Prorated = Annual Taxes Divided by 365 Times Days in Year to Closing
  • Mortgage Payoff for Seller's Existing Loan
  • Record Satisfaction of Mortgage = Approximately $15

 

When Buyer Uses FHA or VA Mortgage

  • Documentary Stamps on Deed = 70 cents per $100 of Price
  • Broker’s Professional Fee = Fee-for-Service or Price Times ___%
  • Owner’s Title Insurance = Price Times 0.00575 + Approximately $250
  • Courier Fee = Approximately $25
  • Taxes Prorated = Annual Taxes Divided by 365 Times Days in Year to Closing
  • Mortgage Payoff for Seller's Existing Loan
  • Record Satisfaction of Mortgage = Approximately $15
  • Loan Discount Points, if Any (1 Point = 1%)
  • Tax Service Fee = Approximately $100
  • Underwriting Fee = Approximately $150 to $250
  • Document Preparation Fee = Approximately $150 to $250
  • Assignment of Mortgage, if Relevant = Approximately $200
Regardless of the buyer's method of financing, what counts is your bottom line. When Rod Rawlings brings you an offer, you receive a Seller's Net Sheet showing all approximate costs.

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