Buyer's closing costs
There are several ITEMS you are responsible for between attorney review Period and closing:
- Title Insurance, Title Searches and Property Survey
A property survey of the property is typically required and it is ordered by the title company. The costs for the above get paid at closing.
- Mortgage costs
- Property Taxes
- Attorneys' Fees
Seller's closing costs
THERE ARE SEVERAL ITEMS YOU ARE RESPONSIBLE FOR BETWEEN ATTORNEY REVIEW PERIOD AND CLOSING:
Selling a home is a time-intensive and complex process. The Dhaliwal Law Firm will help guide you from signing of the Contract of Sale to closing. We will ensure a smooth, worry-free process. When a potential buyer puts an offer in writing and you accept it, the signed acceptance becomes the sales contract. Once the real estate agent draws up the initial contract it will be submitted to your attorney to review the contract and protect your interests.
- Issues that are typically addressed during the attorney review period:
- What is included, and what is not included, in the Purchase Price (appliances, fixtures, etc.)
- The amount of the down payment and the number of deposits
- The Closing Date
- Contingencies to the sale such as inspection and financing
- Tax Implications
- How the home was acquired (such as by gift or inheritance, or otherwise)
- How the home is used (rental property may be taxed differently)
- Home improvements or additions
- The sale price of your home
- What are the specific expected closing costs?
- Paying off existing mortgage(s), if any
- Real estate commission (paid at closing and paid out of the proceeds of the sale)
- NJ Realty Transfer fee (payable at closing)
- After paying your attorney’s fees, the balance of the proceeds will be provided to you
- Again, please note, the above items may vary depending on your specific transaction
Call (609) 447-1201 - or email our firm via the Contact Us form – to find out more about our real estate legal services and how we can help you.