This Closing Statement is for a real estate transaction where the transaction is a cash sale or provides for owner financing. This settlement statement is verified and signed by both the seller and the buyer.
Missouri Closing Costs For Seller
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FAQ
The seller is responsible for transfer taxes, commission, the owner's title policy, deed preparation fees, lien payoffs, and recording expenses.
Missouri is one of the few states that does not enforce a real estate transfer tax. Title Insurance. Title insurance protects the buyer in case there are any liens or disputes about the house's title. Even though this is for the benefit of the buyer, the seller typically pays this one-time cost.
Both the buyer and the seller have to pay certain closing expenses in Missouri. Seller closing costs in Missouri can amount to 8%-10% of the final sale price of the home. This does not include the mortgage payoff. The biggest closing cost (5%-6%) the seller has to pay is the listing and buyer's agent commission.
Sellers often pay real estate agent commissions, title transfer fees, transfer taxes and property taxes.
The closing cost percentage for buyers in Missouri accounts for 2% to 5% of the total purchase price. The exact closing costs depend on the type of loan, home value, sale contingencies, and local laws. You can ask for seller credits or concessions, negotiate with your lender, or opt for a no closing cost mortgage.