0
When purchasing a home who is responsible for past due HOA fees - buyer or seller?
Wiki User
∙ 14y ago
The seller should pay up to and including the day of closing.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Purchasing a short sale and bank wants me to share payment of seller's unpaid HOA fees lien can HOA fees be deducted as part of closing costs?
Assessments may not be tax deductable, depending on the status of the real estate visavis your primary residence. You may be able to reduce the price you pay for the real estate by the amount of unpaid assessments.
Who is the person responsible for paying office fees?
The person responsible for paying office fees is the administrator. This is considered to be an administrative function that ensures the smooth running of activities.
What is Adjusted purchase account?
Hai friends,Adjusted purchase price means the original price at which property is purchased plus all costs paid by the buyer to acquire the property. these costs include inspection fee,escrow,title insurance,legal fees paid,recording and documentation fees and other expenses required to be paid by the buyer.Adjusted sales price means means the sales price at which property is sold, minus all costs of sale. costs include Real estate commission paid as well as all other seller expenses, recording fees,Reconveyance,partial payments of utilities,intrest and taxes and expenses paid for improvements in anticipation of the sale.regards,kather mannan mohamed; B.Com;Sivakasi
Are sales taxes capitalized as part of the purchase price?
The cost of equipment includes the purchase price plus any sales tax (less any discounts received from the seller), transportation costs paid by the buyer to transport the asset to the location in which it will be used, expenditures for installation, testing, legal fees to establish title, and any other costs of bringing the asset to its condition and location for use. To the extent that these costs can be identified and measured, they should be included in the asset's initial valuation rather than expensed currently.
Who is responsible for a bounced check?
The person who owns the account. If you use an account that is not yours that is stealing and is against the law for identity theft, fraud, and could bring you jail time. If it is your account and the check bounces you owe the money for the amount of the check and the fees from the bank. A bounced check can run as much as 50.00 in fees.
Does Paypal charge fees to customer?
If you are a buyer no. If you are a seller yes.
Is the buyer or seller responsible for title insurance?
Here in California, it is a matter of local custom. In Southern California, typically the seller agrees to purchase the owners policy for the buyer, the buyer supplies the title insurance for the lender. In Northern California, the buyer typically pays for both policies. It is, however, a matter that is covered in the contract between the seller and buyer and is negotiable, as is everything else. All closing costs can be negotiated as part of the sales contract. Who pays for title insurance varies from state to state based on local custom, but can be negotiated between the buyer and seller as part of the sales contract. There are no laws providing for either party to be required to pay. In the case where the seller has elected to pay title expenses, the buyer needs to make sure that the Lender has approved those fees to be paid by the seller. Some types of mortgages require that the buyer/borrower have a certain amount of funds available for the closing fees and may "cap" what fees can or cannot be paid by the seller in behalf of the buyer.
Can Title Insurance be negotiated?
If you live in a state that does not regulate the fees/premiums, then a title agency may be willing to negotiate the costs of the premiums. Or, they may be able to negotiate some of the fees, like searches/abstracts, copy fees, etc. If you live in a regulated states, all fees or some fees may be overseen by that State's Department of Insurance and whatever are the state-regulated fees MUST be charged. It would be illegal to over-charge or under-charge the fees. A Buyer and Seller can negotiate freely as to who pays what fees of the title insurance costs. In some states, tradionally a seller pays for the Owner's Policy and the Buyer pays for the loan policy covering their mortgage. In other states the seller pays for all fees and in others, the buyer pays. However, there are no laws as to who pays for what, therefore, between the buyer and seller, it is always open to negotiation.
How can one sell their house and avoid paying realtor fees?
A homeowner can sell their house on their own without a realtor to avoid paying realtor fees. The seller would be a private seller. Another way is to negotiate with the buyer to pay for realtor fees.
Who pays for title insurance in Wisconsin?
Seller or buyer can pay for the title insurance. Whatever is mutually acceptable by both parties. In some states, the buyer always pays the entire fees. In other states, the seller always pays the entire fees. However, this can always be negotiated. I have seen split fees where the seller will pay for the searches and the buyer pays all premium, recording and incidental charges. Many sellers elect to have a Title Report (no insurance, just information) run on the property when they put it up for sale so there will be no surprises later on. If the buyer uses the same title agency for the sale, typically the title agency will not charge full search fees, instead applying what the seller has already paid for the Report, towards the final title closing fees. Therefore, the fees are negotiable and usually follow the standard practice for the area where you live.
What are the selling or consignment fees for used cars?
The fees for selling a car on consignment are as follows: Auction Houses : hammer price > $7-10,000 average fees: 10% to the Seller and 10-17% Buyer Premium. *(the Buyer's Premium may cause a lower selling price and net the Seller less)* Some auctions charge a flat entry fee, but also have the 10% Buyer Premium, which generally affects the hammer price. Auctions will draw a lot of dealers, so it can be a great place for the buyer.
If you sell your business but part of the sale involves a carry back loan by the seller for several years is the seller responsible for paying the commission for that portion to the broker?
The seller is responsible for all of the real estate commission regardless of whether the transaction involves carrybacks. Regardless of the financing, the seller is always responsible for the realtor fees.
How do real estate agents charge their fees?
Typically a percentage of the sale that funds when escrow closed. 3% is normal, though generally the buyer's agent and the seller's agent split the commission 50/50. If the buyer has no agent, a partial refund is sometimes given to the buyer. sometime fixed amount may also be charged from buyer or seller insted of percentage.
Who pays for title insurance in Lee county Florida?
A: The question of who pays the Title insurance is always negotiable and can be worked in to the real estate sales contract to assign this cost to either buyer or seller. As for a refinance, although the buyer tradionally pays, if you are doing a loan modification of your exhisting loan, most often an additional title policy is not required depending on the loan. The borrower (owner) pays for the title insurance on a Mortgage Policy when they are doing a refinance. As to who pays for the Owner's Title insurance on a purchase is strictly negotiable between buyer and seller. It can be negotiated as part of the terms of sale. In some states, typically the seller pays, since they have the burden of proof of good, clear, marketable title. In other states, the buyer pays. It is rather based on the "lay of the land" of which is the normal way of doing buiness in your particular state. In many states, the seller pays for the searches done on the property he is selling and the buyer pays the premium and other fees for the actual insurance coverage. However, there are no laws concerning who is responsible to pay for the title insurance or the title searches. Who ultimately pays for what specific fees should be negotiated from the beginning. If the buyer agrees to pay all fees, the buyer takes the financial burden and risk of paying for search fees on a property that may have serious title issues making it extremely difficult to sell, which the seller may have already known about but did not disclose. Therefore, it is always a good idea to ask for a copy of the Seller's "back title", the Owner's Policy that was issued to the seller when they bought it.
Why is fitness first membership available on eBay?
Because you can transfer your membership, which benefits both parties. The seller gets out of their contract and the buyer avoids the joining fees, and gets a shorter contract. (There is a fee for transfer but it's less than the joining fees and the exit fees.)
If you buy something 7000.00 what is the PayPal charge?
If you are purchasing something through PayPal there is no charge for you. PayPal fees are taken out from the end of the person receiving them money.It is important to note that the seller cannot make you cover PayPal fees it is the seller’s responsibility to cover the fees. Doing so could cost the seller their PayPal account(s) and have fines charged to them.
Whop is responsible for past due registration fees for a used vehicle in California?
usually the seller unles stated in the bill of sale, same with smog
