Hi all i have quick question..If i want to make the seller pay half for closing how would i word that in the contract...i just need to know what to write thanks for the help... thanks..
CLOSING COSTS AND EXPENSES: The following closing costs shall be paid as provided. Buyer and Seller agree to share closing cost equally (50/50) You will also need to spell out each cost title, amount and identify percentage of responsibility. [addsig]
"You will also need to spell out each cost title, amount and identify percentage of responsibility. " John, how im goin to know the amount of closing? Would stating the seller and buyer agree to pay (50/50) for closing cost be sufficient enough? Thanks....
Yes you can but I sway more on the caution side when it comes to contracts. [addsig]
The reasons why i said that is beacause closing cost is different evertime, so wouldnt know the amount to put on the contract..Thanks for the help..
I would choose to put in the contract a fixed ammount such as "Seller shall credit $2500 to buyer at closing for closing costs"
I would say "Seller agrees to pay up to 50% of buyers closing costs." Otherwise, closing costs are 50/50 anyway.
CLOSING COSTS AND EXPENSES: The following closing costs shall be paid as provided.
Buyer and Seller agree to share closing cost equally (50/50)
You will also need to spell out each cost title, amount and identify percentage of responsibility.
[addsig]
"You will also need to spell out each cost title, amount and identify percentage of responsibility. "
John, how im goin to know the amount of closing?
Would stating the seller and buyer agree to pay (50/50) for closing cost be sufficient enough?
Thanks....
Yes you can but I sway more on the caution side when it comes to contracts.
[addsig]
The reasons why i said that is beacause closing cost is different evertime, so wouldnt know the amount to put on the contract..Thanks for the help..
I would choose to put in the contract a fixed ammount such as "Seller shall credit $2500 to buyer at closing for closing costs"
I would say "Seller agrees to pay up to 50% of buyers closing costs." Otherwise, closing costs are 50/50 anyway.