Raja K asked:


We recently purchased a house in New York, the lawyers may have have messed up on the cost of the Mortgage Tax that was due from us (the buyer). A day after the closing, the seller contacted us about the wrong amount. Is the seller allowed to ask for more money after the closing?
Thank you for your responses everyone. The seller initially contacted us, but now deals with our closing lawyer.

Basically, the seller is saying we owe them more money on the mortgage tax because some saving that was supposed to go to them, was given to us. During the closing they had two lawyers in the room, as well the title company. They all went through amounts and even told us directly that we were saving money on the mortgage tax. A day later the seller says the saving should have went to the seller.

The amount is $6,000. The seller is ready to take this to civil court.

Isaiah

Sam asked:


I’m a loan officer and lately I’ve heard that Washington Mutual will do your home loan with no closing cost and the will use your old appraisal. Is this true or are there closing cost when it’s all said and done?

Laura

DSulvn2 asked:


My wife and I both have good credit. We will be putting 5% down, and I will be shopping for the best deal I can find. What can I expect to need out of pocket for closing costs? I already know I will have to pay one year of home owner’s insurance in advance, but what will be the ball park of the other fees?

Daniel

2Bad4U asked:


How much might we be looking at paying out of pocket… if we sold a home for 81,000 and paid the buyers closing costs too? A good close guess would really help. We are in Lansing MI if that helps. We will not have any broker fees.

Wyatt

im_taylormade asked:


Trying to by a home and I keep hearing people talk about first time buyer’s closing cost. But when I ask my bank Navy Fed or my realtor they dont know what im talking about. I would love to spend that money on paint or carpet, im trying to get a forclosure.

Timothy

chimerenylon asked:


I have been approved for 97,500 for a home i want to purchase but I need 9,000 additional to cover closing cost and pay off 1 debt that is mandatory. How can I use the equity that the seller is gifting me to cover this cost?

Justin