Owner Seller Escrow Fees?
I am in escrow (starting escrow next week) on a $150K property with full owner carry. Up to now, I have never sold properties, only buy them. How much should escrow closing fees costs me (the seller)? If owner financing, should the closing costs be minimal? Give me an est. of what I should expect next week.
Belle_star and Broadcreek: I appreciate your replies, but we found a bank willing to work with us and will close on the property next month.
Thanks,
Mark
Congratulations! I hope this turns out to be a successful venture for you!
What were the terms? Was it a local bank or national bank?
You raise the purchase price on the contract to 119,000 , seller includes closing cost of say 5,000 , 5,000 is included for upgrades ....for new carpet ..... new windows,etc. you leave the closing with extra cash and bringing no money in.
[ Edited by commercialking on Date 07/23/2006 ]
What are your typical costs per square foot to build these houses? Sales value per square foot in the area? Are you willing to pledge and subordinate your land to the deal?
Have you built any spec homes in the past or have you always done build-to-orders?
Why do you need an investor partner? What kind of legal entity do you see this deal working in?
Quote:
On 2006-02-22 03:31, AaronSanDiego wrote:
Furthermore, there are too many moderaters who cruise through and delete any potential infomation in your posts that might allow someone to contact you. Whats the point of having a signature if someone comes along and deletes it every time you post?
Not that I am the most qualified to address this point, but the rules about posting contact info exist to keep the site "clean". As a paying member, people can contact you privately easily enough. If you are a vendor member, selling products or services, it is also easy to reach you via the site tools. If it were a "free-for-all" type site, the benefits of it would be significantly diminished...
[addsig]