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Updated almost 7 years ago on . Most recent reply

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Gaurav A.
  • Los Angeles, CA
8
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85
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Question: Closing contract terms

Gaurav A.
  • Los Angeles, CA
Posted

I am new to investing and I am trying to understand contracts, and attached is the paragraph from the contract that I am looking to sign. Does it sounds right that the buyer has to pay all of the closing costs as stated below? Is it normal, or the cost is usually shared between the buyer and the seller?

Most Popular Reply

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453
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Ken Nyczaj
  • Investor
  • Grasonville, MD
415
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453
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Ken Nyczaj
  • Investor
  • Grasonville, MD
Replied

Gaurav A. In Maryland, County transfer, state transfer, state recordation tax are usually split between buyer and seller unless otherwise stated. The other big expense is owners title insurance which is usually paid by buyer unless otherwise noted.

A quick google search of California closing costs breakdown should net you an answer for what the standard is.

  • Ken Nyczaj
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