Need advise please..... (Savannah, Fort Stewart: loan, how much, attorney)

[officerwife2005]

Ok to make a long story short, my husband is currently stationed in Fort Stewart and next year when he returns from Iraq we are going to sell our home, and relocate. We have experience in buying (previous bad experience with agent) However we don't have experience in selling, how much will we need to pay out of pocket to close? We live in Wayne County I know the market isn't good now maybe 12 months out things will change. Any input would be most greatful.

[boilrmkr]

Generally when you sell you pay your realtor's fees and any closing costs the buyer may require. You don't have all of that paperwork fees and attorney's fees. When we sold both of our previous houses we didn't even go to the closing. We signed the papers and had them notarized ahead of time.

[officerwife2005]

Is it customary to pay the closing cost's? Do you know what the going rate of the commission?

[boilrmkr]

We just sold our house in Savannah and the commission was 6%. Sometimes it is 7%. Our buyers were financed for 100% of the loan and had no money for closing costs. They had a VA loan and the closing costs were $6000.00. There is a place in the contract for closing costs to be written in. Unless someone is being relocated and their company is paying the closing costs you will most likely be expected to pay.

[Just Plain Al]

The last five places I sold, the buyer was responsible for their own closing costs.
And commissions can be negotiated.
I've never paid more then 5%.
And once only paid 3%.
In this economy I'm sure they would negotiate with you.

[officerwife2005]

Well we want to sell anyone interested We are relocating to Augusta area or Colorado

[boilrmkr]

It used to be that buyers were responsible for closing costs but not anymore. The new contracts actually have a place for you to just write in the number and buyers expect to have their closing costs paid by the seller. You may get lucky. Our closing costs on the next house we buy will be paid by my husband's company but we are going to use the fact that the sellers don't have to pay the closing costs to negotiate a lower price.

This is how it is done these days.

[officerwife2005]

Well we used our VA loan for this home so no money was needed for a down payment, and we agreed to pay full price and the seller were going to pay the closing cost. I wish we could go back in time 2 years ago before we decided on buying this home its a great home and great location but it's more for retired folks

Thanks for the input boilmkr

[boilrmkr]

Good luck to you. We lived in a great neighborhood, had the nicest house on the market, had the best lot in one of the best school districts and it still took 8 months to sell. I hope things happen faster for you.

[officerwife2005]

Well we have 2 years my husband is deploying to Iraq in Sept for 12 months and when he returns then we are relocating. I hope things will work in our favor. Thanks