Legal professional charges -- Each you and your lender will incur lawyer fees. This cost ensures that your lawyer draws up the necessary paperwork and sets all the things up correctly for the closing. Your personal closing legal professional will characterize your interests and may be present at, or could facilitate, the closing itself. The closing legal professional collects all fees, transfers the deed to the buyer, pays outstanding taxes and utility bills, pays himself and all different closing prices and provides all remaining cash to the vendor. The legal professional fees might range from $500 to $1,000 or more, depending on the acquisition price of the property and the complexity of the sale. Dwelling and pest inspections -- Your lender will most likely require that the house be inspected to make sure it's both structurally sound and freed from termites and other destructive insects. You might also should have the water tested if the property makes use of a properly relatively than metropolis faucet water.

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