Houses For Sale In Magodo (Land For Sale In Magodo, Houses For Sale in Gbagada, Houses For Sale In Ogudu GRA)


Who pays the transfer fees when selling a property/house?
When you are selling a property, you pay transactional fee, which are similar to the fee you incurred while buying the house/property. This could include stamp duty and property registration cost. These costs are usually divided between the buyer and the seller of the property.


Who pays closing costs on a cash sale?
Both buyers and sellers of the property in question pay closing costs, but as a seller, you can required to pay more. Now, buyer closing costs: As a buyer, you can expect to pay 2% to 5 percent of the purchase price in closing the costs, most of which goes to lender-related cost at the closing. Please we'll talk more on buyer closing costs later on.


Who buys title insurance, the buyer or seller?
In the standard purchase contract for a home/property, however, the seller of the property pays for the cost of the owner's title insurance policy issued to the buyer, and the buyer will pay for the cost of their lender's title insurance policy that is issued to the buyer's mortgage lender.


How does the seller get paid at the closing?
When everything - documents' signed and sealed, you will be able to receive your property sale profits from the escrow or title company. Basically, you can choose to receive the funds through a check or wire transfer. “If a property/house seller wants his cash wired directly to their account, that is typically about 24-hours time of closing the deal.”


What does the buyer pay at closing of the deal?
Usually, the buyer's costs include mortgage insurance, appraisal fees, homeowner's insurance and property taxes, while the seller of the property covers ownership transfer fees and pays a commission to their real estate agent. Buyers most times negotiate with their new home's seller to cover some of their closing costs if possible.


What should I do with the money from selling my house?
~ Invest your property sale proceeds to make money out of money.
~ Explore the stock market.
~ Pay off debt.
~ Buy another property.
~ Invest in priceless experiences, memories, and skills that last a lifetime.
~ Keep the cash for a down payment on a new house.
~ Add it to a college fund.
~ Set up an emergency account.
~ Save it for retirement.