Real Estate Agent · Stering, VA · Member since 2016 · 60 posts · 10 votes
Dear Community,
I met a seller yesterday. When I told him about closing cost he will be paying, he said, I cannot pay 2,500 extra just for title transfer and paperwork etc.
If we do not go to title company or any attorney for closing to save closing cost to seller?
Attorney · Winchester, VA · Member since 2015 · 726 posts · 387 votes
10y
Is it possible? Probably, depends on local laws. Is it a good idea? No. A thousand times no. There are thousands of little legal quips that could creep up on you if you do not have adequate professional representation when handling the conveyance of property; whether that be from a creditor perspective, a tax perspective, a corporate perspective, or otherwise. Find a local RE attorney to help you.
Attorney · Winchester, VA · Member since 2015 · 726 posts · 387 votes
10y
Is it possible? Probably, depends on local laws. Is it a good idea? No. A thousand times no. There are thousands of little legal quips that could creep up on you if you do not have adequate professional representation when handling the conveyance of property; whether that be from a creditor perspective, a tax perspective, a corporate perspective, or otherwise. Find a local RE attorney to help you.
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
10y
Let him know that is what it costs whether you buy the house or someone else does. It can usually get taken out of his proceeds. It does not have to be paid up front. Also, you can split it with him. I am sure that 1250 is not going to brake the deal.