Closing costs always need to be paid attention to by the real estate agent for both the seller and buyer. Did you know, when you close a home in WV, the grantors tax is $6.60…that will hit your pocket book pretty hard when you sell. When buying in VA, most settlement companies and attorney’s will add owner’s title insurance. The cost isn’t that great, but could run you $500 depending on the price of the home. To make this a quick post, sellers should expect to pay up $1500 for closing their home (exluding credits to the buyers) for items like: attorney/settlement agency fees, county taxes, wire transfers, courier fees (watch these), etc. And when buying a foreclosure, the list of costs for the buyer can be higher. Also, when buying a new home, make sure to check the amount the builder gives for a buyer credit, does go towards the seller costs as well…just FYI..for any of your real estate needs, visit www.DaveSpence.net!
