When you sell your house in Hollywood, “closing costs” can add up to thousands if not tens of thousands of dollars.
Do you know what closing costs are? How they are calculated?
We Buy Houses (And Paying Closing Costs!)
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Did you know real estate investors, like House Heroes, will pay closing costs for you?
Closing Costs in Hollywood
Closing costs are fees – above the sale price – incurred at the home sale closing. They are paid when property title transfers to the new buyer. Investopedia defines closing costs to as “expenses over and above the price of the property in a real estate transaction.”
Closing costs are different depending where you live. Bankrate provides a detailed list of Florida closing costs, broken out by lender fees, third-party fees, and taxes. You can also check out the closing rate calculator on Anytime Estimate.
In Hollywood, closing costs are typically 2 to 5% of the purchase price. Closing costs include:
- Origination Fees
- Discount Points
- Appraisal and Inspection Fees
- Title Searches, Title Insurance
- Title Insurance
- Taxes
- Deed-recording fees
- Credit Report Charges
- Commitment fee
- Processing
- Underwriting
- Attorney Fees
- Liens
- Mortgage balance
- Real estate agent Commissions (normally 6%)
Who Pays Closing Costs? Buyer or Seller?
Closing costs get negotiated. Usually, the buyer and seller both pay some closing costs. However, realtor commissions (by the far the most expensive closing costs besides the mortgage or liens) are always paid by the seller. Sellers often will fund costs at the closing table to draw more attention to their sale and increase the pool of buyers. In almost all cases, the seller must pay taxes and HOA/community costs from the beginning of the year until closing.
Can Hollywood Home Sellers Avoid These Costs?
Don’t want to pay closing costs? No problem! Sell a house in Hollywood directly to a real estate investor and you don’t have to pay a single cent of closing costs. Cutting out the middle-man agent saves the 6% realtor commission. Real estate investors like House Heroes LLC maintain large cash reserves so we are more than happy to pay the closing costs if that allows the sale to go through. Since we are a cash buyer all across Broward County, you don’t need to worry about bank approval or institutional red tape. Closing is easy.
An additional benefit of working with a real estate investor is real estate investors pay for repairs. In a typical Hollywood home sale, the buyer will come back and re-negotiate contract price (or ask you to fix things up) prior to closing. It is common to ask a seller to get missing permits or reduce price due to an older cooling system or roof. Cash home buyers do this professionally, quickly, and efficiently – so you don’t have to.
We Buy Houses (And Pay Closing Costs!)
Call Us (954) 676-1846 Send Text Send Text Send Text or Fill Out This Form For Your FAIR Offer.