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ESTIMATED SELLER'S PROCEEDS FROM SALE:  Typical Sale Of Single Family Home

Title Insurance - Who Pays?

Answer:  In Martin County, FL, the cost is negotiated between Buyer and Seller. 

 Typically, Buyers will ask Sellers to pay if they tender a "good" offer.   And, conversly, Buyers will assume the expense themselves if they present the Seller with a "low-ball" offer.  (Anything to sweeten the pill!) 

 Many times, the 2 parties will end up splitting the cost 50/50.  
Cost=$575 for 1st $100,000 + $5/$1,000 over $100k

List Price:

$174,500

Commisssion:  Selling Broker: 3%
                           Listing Broker: 3%
Real Estate Taxes - 1999: $1,704
Mortgage Balance    (estimated): $86,738
Equity Loan Balance (estimated): $6,253

Mo. Carrying Cost  (PITI,FP&L,Yard/PoolMaint):

$954

Closing Date (estimated):

30-Jun-2001

POSSIBLE OFFERS:

$161,000 $162,500 $166,000 $168,500

Offer As  %  Of List Price:

92% 93.1% 95.1% 97%

EXPENSES:

       
Total Commission At 6%: 9,660 9,750 9,960 10,110
Documentary Stamps On Deed  $7.00/$1,000: 1,127 1,138 1,162 1,180
Owner's Title Policy Premium: 880 888 905 918
Title Examination: 50 50 50 50
Title Abstract: 50 50 50 50
Title Company Closing Fee: 50 50 50 50
Real Estate Taxes (pro-rated): 852 852 852 852
Recording Satisfaction Of Mortgage: 6 6 6 6
Federal Express Charges: 32 32 32 32

ESTIMATED SELLING EXPENSE:

12,707 12,815 13,067 13,247

MORTGAGE PAYOFF:

86,738 86,738 86,738 86,738
EQUITY LOAN PAYOFF: 6,253 6,253 6,253 6,253

ESTIMATED GROSS SALE PROCEEDS:

$55,302 $56,694 $59,942 $62,262

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