WHAT COSTS ARE RELATED TO THE SALE:
Mortgage Pay Off: Before the closing, you will sign a release for the Title Company or Attorney to get the amount that will be owed at the day of closing. This will allow the Closing Company to prepare the closing documents and they will issue a check out of your proceeds at the closing to pay off your outstanding mortgage.
Lines of credit or Equity lines: As with the mortgage pay off, you will have to authorize the closing company to get this information. If there is any amounts owed, they also will be paid off and any lines of credit closed.
Prepayment Penalty: Often, sellers think that all that is owed is the amount showing on their last statement. This is not always true. A prepayment penalty could be in your mortgage. You may also owe interest depending on the day of the month that you close.
Unpaid Taxes/Liens: This is why title work is important prior to closing to see if there are any liens or unpaid taxes on the title. These items will also have to be paid the day of closing. The closing company cuts these checks out of your proceeds and pays them on your behalf.
Special Assessments: Special assessments are things like water, sewer, road or other local government improvements that were assessed to the property. In most cases they must be paid off, in others, they can be assumed by the buyer. If they are to be paid off, again the closing company will pay these out of your proceeds.
Other Costs: We will need time to help ensure your property looks its very best to sell for the best price. I will give you a list of recommendations that may or may not require additional costs, such as fresh paint, repairs, curb appeal, etc.
Shannon Katz, REALTOR. 970-366-7644
Century 21 Circle, Indialantic, FL.
I'm Shannon Katz, Realtor with Century 21 Circle based in Indialantic, FL. I am here to help you navigate the sale of your home here on the Space Coast of Florida. Serving locations: Melbourne, Indian Harbour Beach, Indialantic, Satellite Beach, Cocoa Beach, Cape Canaveral & Melbourne Beach, FL.
Disclaimer: Realtor, Shannon Katz does not claim responsibility for any inaccuracies contained within this website: www.shannonkatzrealtor.com. Content is intended as a guide for the Space Coast real estate market. The market is always changing, and the rules and rates will continue to change as well. Website: www.shannonkatzarealtor.com does not take responsibility for information contained on third-party website links. Website www.shannonkatzrealtor.com reserves the right to remove any comment deemed offensive, and is not liable for any opinion shared.
