commission is one of the few expenses that are not allocated by the sales contract, since obligation to pay a commission established by a separate agreement between customer and broker. one of the ways the state makes up for that is with a rather hefty documentary stamp tax on deeds. it is customary in florida for the seller to pay documentary stamp taxes on the deed. although a title company cannot represent a seller, it can issue title insurance and be the closing agent for a buyer.
if a mortgage is obtained, some lenders require endorsements and additional coverages which can increase the borrowers title insurance expense by up to 25%. inspections cost $200 for the most basic to a few thousand dollars or more if an engineer is retained. buyers pay to record the deed and other documents needed for marketable title, with the exception of any satisfactions of mortgages or other liens which are the seller’s responsibility. even with a form contract, it is important that a buyer or seller read and understand the contract and expense associated with it, before signing. the information in this column is general in nature and not intended as legal advice.
nabor® works tirelessly to offer you many exciting educational and training opportunities to meet your needs and help your business grow. nabor® is your best source for the latest business tools that can help you reach your professional goals and achieve your real estate ambitions. working with a realtor® gives buyers, sellers and investors many advantages they need to succeed in today’s real estate market.
todo working with a realtor® gives buyers, sellers and investors many advantages they need to succeed in today’s real estate market. nabor® provides opportunities for you to make connections and establish relationships with real estate professionals who can help you reach your full potential and maximize your level of business success. the term realtor® is a registered collective membership mark which identifies a real estate professional who is a member of the national association of realtors® and subscribes to its strict code of ethics.
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