Closing When I Sell My Warehouse
Who pays the costs of closing when I sell my warehouse? The typical process of closing commercial real estate transactions involves costs assigned to the seller and other costs assigned to the buyer. All these costs are itemized on a closing statement, also called a settlement statement.
Naturally, there are different situations a seller may face when closing their commercial transaction. Here is a list of the costs generally paid by sellers at closing:
1) Real estate commission – The listing agent is paid a commission, as stated in the listing agreement.
2) Legal, title/escrow fees – The title or escrow company is paid for their services preparing and conducting the closing.
3) Real estate taxes – The county (and sometimes the city) where the property is located taxes commercial property annually.
4) Mortgage loan payoff – The balance due on the original mortgage loan when property was purchased must be paid before transferring to a new owner.
All these costs are calculated for the specific date and exact sale price established in the purchase agreement. If I can find my own buyer, I can avoid paying a real estate commission on the sale. For the sale of commercial property like my warehouse, paying a real estate commission represents a big expense.
We Pay Fast Covers the Closing Costs
With the exception of mortgage loan payoff, We Pay Fast picks up all the costs of closing their purchase transactions. Contact the We Pay Fast buyers by phone at 1-800-WePayFast (1-800-937-2932) or by email at info@wepayfast.com to discuss your warehouse for sale.
We Pay Fast has years of experience purchasing homes and commercial buildings directly from sellers in every state. They are easy to talk to and easy to work with throughout the entire closing process. I am calling 1-800-WePayFast (1-800-937-2932) to avoid paying a real estate commission and the costs of closing when I sell my warehouse.