Closing Expenses
When discussing closing expenses with your Buyer be aware that all expenses are on the Buyer.
Keep in mind the following:
A. Home Inspections:
1. Dewinterization and Rewinterization will cost the buyer $300-$400
2. Putting Utilities in their name will cost $75-$150
B. Transfer Tax
1. Since HUD is exempt from paying transfer tax the Buyer will be required to pay all. This will
cost the buyer 1-2% more than a normal transaction where docs and transfers are split.
C. HOA Docs
1. Must buy but can be reimbursed by Lawyers Advantage Title
D. Water Bill
1. May need to pay activation fee with county
However using Lawyer's Advantage Title will save your client some money. SEE WHY HERE