New to Real Estate · FL · Member since 2022 · 95 posts · 18 votes
I am planning on buying a vacant lot directly from the owner. I want to make them a cash offer and I want the deal to between directly between me and the owner, no realtor involved. Are they any closing cost involved if we do this type of deal just a real estate lawyer? Is it standard business with this type of deal for the seller and buyer to split the cost of the transaction? Or should the buyer pay it all? If someone from Florida can please reply it will be much appreciated.
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
3y
You would still need to pay all of the customary closing costs (transfer tax, title insurance, tax prorations, and title company/attorney's fees, etc...Just no commission.
Everything is negotiable, but the following is the customary split between buyer and seller on a vacant land contract in Florida: