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Posted by steele in minnesota on May 29, 2007 at 10:23:42:
In Reply to: purchasing a pre-foreclosed home posted by Jeannette on May 27, 2007 at 14:28:59:
You hit it on the head. "Common practice" or custom tends to be what divides various costs (a few are mandatory or statutory to one side or the other).
So much depends on where you are.
Even so many of the fees are negotiable as to who pays for them. What may be the case here is that a seller in preforeclosure may not have any funds. Then you may decide that based on the "deal" you are getting that you can spring for the various fees the seller normally would pay. Or perhaps you can negotiate for something different than the local custom. Custom is not mandatory.
Where are you?
Steele
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