What are Closing Costs Exactly in Lafayette?

You’ve likely heard about closing costs, but do you know everything that they include? Check out our closing cost “FAQ” to learn more about what closing costs are all about.

What Are Closing Costs Exactly in Lafayette?

Closing costs refer to all of the fees that must be paid at the closing table. Depending on where you live, the fees and costs can vary. But generally, closing costs include, but are not limited to:

• Notary fees
• Transfer Costs
• Transfer Taxes
• Appraisal Costs
• Inspection Fees
• Origination Fees
• Recordings Fees
• Title Insurance
• Underwriting Fees
• Bank Fees
• Courier Fees
• Wire Transfer Fees
• Liens against the home will need to be paid to clear the title
• Credit Report Fees
• Administrative Fees
• Attorney Fees, If Applicable
• The balance of your mortgage or loans against the home
• Possibly repairs or pest control if this has previously been agreed upon
• COMMISSIONS!

Who’s Paying?

While the buyer will usually pick up a number of these, it is important to note, that the seller typically pays 100% of the commission. This will be about 6%+ of the final sale price. Other than your possible mortgage balance, this is by far the biggest cost when it comes to costs at the closing table. Negotiating the other costs during the sale process is becoming increasingly popular. To lure in more buyers, sellers are more frequently picking up the tab when it comes to closing costs.

As a seller, you will also need to pay your share of the year’s property tax, up until the day of closing. Any HOA fees or other community costs should be prorated and paid at this time as well.

What Are Seller Subsidies?

This is an amount negotiated between the buyer and seller. It is the percentage the seller agrees to pay towards the closing costs. For example, you can offer to put 3k towards closing to help relieve some of the costs for your buyer. Overall, paying these subsidies is often a small price to pay to bring buyers to the table!

Can You Avoid These Costs?

Yes! By working with a direct buyer who will pick up all costs associated with the closing! A direct buyer will not charge you a commission, as they are not an agent. Many times, direct buyers will offer to pick up all costs, which will save you money and hassle at the closing table.

Are Repairs Included?

This is another one that is negotiated between the buyer and the seller. If the mobile home requires some obvious repairs, the seller will often take care of these before putting their mobile home on the market. However, if an inspection shows additional repairs are needed, a buyer may make his offer contingent on repairs being made. A buyer and seller can work this out before going to closing. To save money on repair, here are the Best Mobile Home Parts and Supplies we recommend, and the Best Tools for Making Mobile Home Repairs. If you want to make DIY repairs to your mobile home, we recommend this Book.

What are closing costs exactly in Lafayette? If you would like to learn more about it and the selling process or if you have any questions about selling your Lafayette mobile home, send us an email using this form, or give our office a call now! 337-508-0795

• Are you worried about the repossession?
• Does the property need more repairs than you can make?
• Did you inherit a mobile home you don’t want?
• Are you tired of expensive lot fees?
• Are there bad tenants you can’t get rid of?
• Do you own a mobile home that is sitting vacant?
• Do you have liens on the property?
• Do you need to sell your mobile home fast?

No matter why you need to sell your mobile or manufactured home in Lafayette, LA we can help you! Get a cash offer today.

Or if your mobile home needs to be moved. Get a free quote now.

Where We Buy Mobile Homes near Lafayette, LA

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