in a typical wholesale deal, who pays the title, closing, etc fees? buyer or wholesaler?
I just came from a short sale flip today. Specify on your contract to your end buyer that they pay closing costs. Of course you the flip/seller will pay prorated taxes, which are usually minor. Your buyer need to know this in advance so @ the closing table there won’t be any surprises!!
Hope this helps! "Just remember to breathe, relax and enjoy your bank accounts Ching- Ching!!!
Good to meet you…
In the truest form the answer is the buyer pays the cost. If there were no cost to the seller they could reduce the cost of the property…
However in typical terms and every area is different
Title Insurance on sale Seller pays
Title insurance for loan Buyer Pays
Escrow fee Split equally
Transfer Tax Seller Pays
Property taxes due Seller Pays
Deed prep Seller Pays
Recording fee Buyer Pays
wire fee for payoff Seller pays
wire fee for proceeds to seller Seller pays
wire fee for proceeds from buyer Buyer pays
Courier fee Both pay
And I am assuming youre defining a wholesale deal as a “Real Property” transaction not an assignment “Personal Property” transaction.
If an assignment then the buyer pays everything