Short Sale New Jersey

In a short sale who pays the closing costs?

In a traditional real estate transaction, homeowners are responsible for paying the closing costs associated with selling their property. These seller closing costs include things like property transfer fees, realtor commissions and attorney or title company fees. In a short sale transaction on the other hand, the seller’s closing costs are usually paid out of the money the buyer brings to the closing. Normally, the seller’s lender must approve all of these seller closing costs before a short sale can be approved and completed. Let’s take a look at an example of a short sale from the seller’s perspective (Note: the buyer also incurs closing costs in a real estate transaction that will not be covered here). Seller closing costs […]

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