Posted by dutch on August 30, 2006 at 23:01:36:
Are you in Oklahoma? If so, go to the Oklahoma Real Estate Commission web site and you can download a generic, approved contract. My guess is most other states RE Commissions have one also. Check it out on-line.
As to closing costs, figure 2-4% of the sales price. You will have to pay the buyer for the property tax and insurance you’ve used but haven’t paid for yet, plus usually a portion of the title insurance, and some other costs. Unless you are upside down on the property, the money is taken out BEFORE you get your net cash at closing. You don’t have to bring a check.
Call a title company to help you with this. It is best if YOU control where the closing is done. However, the buyer has a right to dictate where they want to close. However, most buyers don’t really care.
Dutch
Edmond, OK
okhomesavers