Closing costs?

[bullhead44]

I need some info on closing costs. I'm considering selling a piece of property I inherited. I have an offer from a neighbor and will not be using a realtor. The current offer is not where it needs to be, but if he increases the offer, I may sell.

What costs should I expect upon selling the property?

[blntrey3]

Seller usually only pays for Title Policy. Which is a percentage of the Sales Price. Its usually not much

[J Wales]

That's not quite right.

Call the title company where you intend to close and they should happily give you a quote.

[deerwatcher51]

You can also have the neighbor pay all the closing costs if it is part of the deal.

[blntrey3]

That's not quite right.

Call the title company where you intend to close and they should happily give you a quote.

It has been on every piece of property I have sold unless negotiated otherwise. Throug ha Title Company, I have sold property where it was just a deed transfer through the court with NO closing Cost at all.

[mmoses]

Without a realtor, there isn't much.

Call a title company, they will give you a quote

[Swamprat]

So what exactly makes up this 'closing cost' number?

- selling agent fee?
- buying agent fee?
- title company fee?
- ??

[blntrey3]

So what exactly makes up this 'closing cost' number?

- selling agent fee?
- buying agent fee?
- title company fee?
- ??

All of the above, then there can be Lenders fees if applicable which are the Bulk of the fees and go to the buyer unless otherwise stated in the contract

[batmaninja]

https://www.bankrate.com/finance/mortgages/closing-costs/texas.aspx

Usually the closing costs relate to loans and title policy. If you are the Seller neither really matters to you. Sometimes the cost of a survey. Easiest would be to have the neighbor make a net offer and push all of the costs to him.

I would also look into roll back taxes if it has Ag, as well as capital gains.

[BrianL]

All depends on how the contract is negotiated.

Title Co fee about 250.00
doc fees 100.00
survey 500-????.??
Title policy based off selling price
appraisal 500-????

[LUCKY AGAIN]

have the contract filled out so all the fees go to the buyer including rollback taxes if they apply.
title company can tell you the costs, some can be substantial.
I am a realtor.