OfflineI have a question about the closing fees when double closing.
Do I pay two closing costs or only one???
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Quick Question About Double Closing
Posted on: Wed, 05/11/2011 - 15:43
I have a question about the closing fees when double closing.
Do I pay two closing costs or only one???
I just need to know so I can get my number str8 before I get into sending offers for REO's
My understanding is there will be two sets of fees involved. Depending on the state, there may also be taxes involved, since technically you'll own the property for a brief period.
- Tom
Thank you
normaly seller pays when you buy- you pay fee's when you are the seller selling to you new buyer.
To get something you've NEVER HAD
DO something you've NEVER DONE.
your contracts in the normal manner for you location, you will pay one set of fees as a buyer and one set of fees as a seller. But if you change your contract to pay abnormally (such as, you say you will pay all attorney fees)then the fees will be calculated per your contract.
To show the difference that different parts of the country operate: in Cincinnati, Ohio the buyer pays for title insurance but in Cleveland, Ohio the seller pays for title insurance. Just make sure you are consistent in your contracts and you will only pay one buyer and one seller closing cost fees.
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