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Sharing the “Love” of Closing Costs

by | Jan 26, 2025 | Firm News

I currently represent a Seller in a commercial real estate transaction.   The sales price is $1,500,000.00.  The standard commercial contract and custom provides that Seller pays the costs associated with the documentary stamps on the deed, $10,500.00, and the title insurance, $6,500.00.  The Buyer typically pays the costs associated with obtaining a loan, unless there is no third-party financing.  However, the Seller is requesting that the Buyer share the costs of the documentary stamps on the deed and the title insurance.  Sometimes a buyer will agree to do so, sometimes not.  As the Seller, you can always ask.  Perhaps a better strategy is to build this cost into the sale price.

Mitch

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