I recently came across a question by a reader who was wondering “who pays the closing costs in a real estate transaction.” This question, or a form of it, is answered by real estate professionals on each and every transaction that occurs.
First of all, closing costs are the fees, costs, and taxes (over and above the price of the property) that occur when real estate is transferred from one party to another. The conveyance of real estate is initiated and directly by a contract for sale and purchase, and closing costs should be specifically identified in this document. So how do you know who pays what? [click to continue…]
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I think it is paid by the buyer — in India it happens this way.
Apartments Barcelona
Each market area will have different rules on how these are paid. It is best to contact a local professional to get the details and not a random post on the internet. Agents, attorneys, and escrow companies are usually able to help provide these types of details.