Posted on: 11th Oct, 2010 10:08 am
About how much normally are the closing cost if any on a owner finance contract. I'm selling a home for $70,000 with $35,000 as a down payment with rest remainder financed. What abo9ut home owner insurance and taxes on property. Who pays this?
You will pay the taxes and insurance because YOU are the new ower. Any back taxes are paid by the seller.
You SHOULD also have a title search done to be sure there are no mortgages on the property. If there are, then you must be sure they are paid off at closing.
MAKE SURE YOU HIRE AN ATTORNEY !!!
You SHOULD also have a title search done to be sure there are no mortgages on the property. If there are, then you must be sure they are paid off at closing.
MAKE SURE YOU HIRE AN ATTORNEY !!!
