Ford Title Co is preparing the closing documents for Frank and Mary. Frank is the seller and Mary the buyer. Describe the closing costs that will most likely be assesses against Frank and Mary
What will be an ideal response?
Frank's costs will most likely include the sales commission, realty transfer taxes, title insurance and survey costs, and the payoff for any existing judgments or loans. Mary's costs include the sales price, any tax and municipal charges that must be reimbursed to Frank, the costs associated with the mortgage loan, the cost
of title insurance, realty transfer taxes, recording fees and the costs of any inspection reports.
You might also like to view...
Why should a will include a self-proving affidavit?
What will be an ideal response?
Under the fundamentals of agency law, the principal and the agent have a fiduciary relationship to each other
Indicate whether the statement is true or false
A kidnapper of a family member could face liability in tort for:
a. seduction b. loss of consortium c. duress d. criminal conversation e. defamation
What is a bankruptcy petition preparer?
What will be an ideal response?