CLOSING COSTS
Q: How much will I need for closing costs?
A: "The amount of your closing costs will really depend on various factors. If you're taking out a loan you should have gotten a closing disclosure or a good faith estimate which will estimate the amount of fees you need for your closing cost. Otherwise, talk to the closing agent, the person who will be actually handling the closing, which might be your title insurance company and/or your attorney, and they should be able to provide you with an estimate of the closing costs for your particular transaction."
A: "The amount of your closing costs will really depend on various factors. If you're taking out a loan you should have gotten a closing disclosure or a good faith estimate which will estimate the amount of fees you need for your closing cost. Otherwise, talk to the closing agent, the person who will be actually handling the closing, which might be your title insurance company and/or your attorney, and they should be able to provide you with an estimate of the closing costs for your particular transaction."
Q: Is the seller responsible for any closing costs?
A: "In the state of Florida, the seller is more likely than not going to be responsible for some closing costs. But all the closing costs are negotiated and determined by the terms of the contract, so there are typically customary seller's closing cost, depending on where in the state of Florida you're closing, but in order to determine the exact closing costs of
the seller, you need to refer back to the terms of the contract and the section entitled 'Closing Cost and/or Procedures.'"
A: "In the state of Florida, the seller is more likely than not going to be responsible for some closing costs. But all the closing costs are negotiated and determined by the terms of the contract, so there are typically customary seller's closing cost, depending on where in the state of Florida you're closing, but in order to determine the exact closing costs of
the seller, you need to refer back to the terms of the contract and the section entitled 'Closing Cost and/or Procedures.'"
CLOSING COSTS - FORMS OF PAYMENT
Q: What forms of payment are acceptable at the closing?
A: "In order to have a proper closing, it's important to understand that the closing agent needs to have cleared funds or certified funds. If they're not cleared funds, there's no way everybody can get paid at the closing. When you get to the closing table, you need to make sure that either a wire transfer was already sent to the closing agent or you bring cashier's checks or certified funds to the closing table. In order to know exactly what type of funds the closing agent will accept, make sure you talk to the closing agent in advance so that you provide them with the exact type of funds that they need."
A: "In order to have a proper closing, it's important to understand that the closing agent needs to have cleared funds or certified funds. If they're not cleared funds, there's no way everybody can get paid at the closing. When you get to the closing table, you need to make sure that either a wire transfer was already sent to the closing agent or you bring cashier's checks or certified funds to the closing table. In order to know exactly what type of funds the closing agent will accept, make sure you talk to the closing agent in advance so that you provide them with the exact type of funds that they need."