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Old 10-10-2017, 07:52 AM
 
15 posts, read 13,177 times
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Hello,

So alittle background house hunting in Jupiter, Boca, and Parkland and have two realtors(one who specializes in Jupiter and other south in Boca and Jupiter). I know probably not a good idea using multiple realtors but I wanted to use realtors who knew the area like the back of their hand. Both realtors know about each other and know it's basically may the best realtor win to sale depending on what they show us and what we end up liking in the end. Anyway, the north realtor just told us that if we buy in Palm Beach County the seller typically pays most closing costs and title insurance(benefits a sale if we buy in their county) BUT if we use other realtor and buy in Broward county the buyer pays all closing costs and title insurance. Is this true? I'm trying to think neutral and realize the one realtor may by trying to sway us away from Broward and other realtor. Asked Broward realtor if this was true and they said "no" but again if the answer is no benefits a sale with them. So now I don't know who to believe! Any input? Thank you!
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Old 10-10-2017, 08:08 AM
 
10,090 posts, read 12,151,050 times
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Call a title company and ask them......I suspect your "2 realtor" plan is going to backfire miserably in the end!

What is the closing costs/title insurance expense? Lets go crazy and say it is a $2500 difference, depending on the community the annual taxes and insurance could easily be a $2500 difference so don't get too shortsighted on closing costs savings.
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Old 10-10-2017, 09:43 AM
 
15 posts, read 13,177 times
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Thank you for your advice
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Old 10-10-2017, 05:47 PM
 
Location: NY / Fl.
362 posts, read 292,803 times
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Quote:
Originally Posted by Snowbird2015 View Post
Hello,

So alittle background house hunting in Jupiter, Boca, and Parkland and have two realtors(one who specializes in Jupiter and other south in Boca and Jupiter). I know probably not a good idea using multiple realtors but I wanted to use realtors who knew the area like the back of their hand. Both realtors know about each other and know it's basically may the best realtor win to sale depending on what they show us and what we end up liking in the end. Anyway, the north realtor just told us that if we buy in Palm Beach County the seller typically pays most closing costs and title insurance(benefits a sale if we buy in their county) BUT if we use other realtor and buy in Broward county the buyer pays all closing costs and title insurance. Is this true? I'm trying to think neutral and realize the one realtor may by trying to sway us away from Broward and other realtor. Asked Broward realtor if this was true and they said "no" but again if the answer is no benefits a sale with them. So now I don't know who to believe! Any input? Thank you!
Just curious, did you talk to a mortgage broker or bank yet? They would be helpful. Or if a cash purchase, Did you contact a Lawyer who handles real estate closings? Good luck...
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Old 10-10-2017, 06:47 PM
 
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Yes talked to mortgage broke and got pre-approval letter. I will make some more phone calls just thought I'd check here first.
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Old 10-10-2017, 09:46 PM
 
Location: Weston, FL
4,111 posts, read 5,824,825 times
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If you google, you will find some title company websites that show you closing cost estimates, and you can choose Broward vs Palm Beach to see what the difference is.
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Old 10-10-2017, 10:20 PM
 
Location: Boca Raton, FL
5,134 posts, read 8,656,408 times
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Smile Some info for you - and I'm a mortgage broker

Quote:
Originally Posted by Snowbird2015 View Post
Hello,

So alittle background house hunting in Jupiter, Boca, and Parkland and have two realtors(one who specializes in Jupiter and other south in Boca and Jupiter). I know probably not a good idea using multiple realtors but I wanted to use realtors who knew the area like the back of their hand. Both realtors know about each other and know it's basically may the best realtor win to sale depending on what they show us and what we end up liking in the end. Anyway, the north realtor just told us that if we buy in Palm Beach County the seller typically pays most closing costs and title insurance(benefits a sale if we buy in their county) BUT if we use other realtor and buy in Broward county the buyer pays all closing costs and title insurance. Is this true? I'm trying to think neutral and realize the one realtor may by trying to sway us away from Broward and other realtor. Asked Broward realtor if this was true and they said "no" but again if the answer is no benefits a sale with them. So now I don't know who to believe! Any input? Thank you!
Palm Beach County:
Each party will still have some closing costs, however, in Palm Beach County, the seller will pay for stamps on deed and the owner's title policy (also known as a time premium adjustment). Example, if your home is $400,000 purchase price, the owner's title policy is $2075.00.

The buyer will still pay a settlement fee to the title, some lender endorsement fees, possibly a lien search, wire fees.

Broward County:
Each party will still have closing costs but the buyer will pay for the owner's policy instead of the seller. Of course, any of these fees can be negotiated.

In Broward County, you would choose the title agent; in Palm Beach County, it's the seller's choice - if you choose, you pay.

Hope this helps. I do this everyday and yes, title agents will give you a quote.

You will also pay for a survey in both counties BTW. (unless it is a condo)
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Old 10-11-2017, 04:26 AM
 
15 posts, read 13,177 times
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So helpful Bette thank you!!!
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Old 10-17-2017, 10:09 AM
 
292 posts, read 349,153 times
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Bette is correct, except that in PBC if you are a cash buyer you pay zero closing costs. Some title companies try and get the buyer to pay a settlement fee, but the standard PBC farbar contract clearly states seller is responsible for those charges and clearly lays out what buyer is responsible for. None of the buyer charges would apply to a cash buyer. I had several closings where title companies add a charge for settlement fee and I had to get them to remove it, some being easy and some being hard but always got it removed. I suspect they make a ton of money adding on these charges to cash buyers they are not supposed to
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