Sellers

Sellers Cost Summary

Upon Closing of the sale of real property, there will be certain closing costs for the sellers. The typical costs which may be incurred are listed below. Please keep in maid that these expenses are not all inclusive. The expenses shown below are listed as they would be traditionally for either the Buyer or the Seller but they can be the responsibility of either or both.

Expense  of  Sellers:

Owners title insurance policy

Preparation of deed

State documentary stamps on deed

(.70 on each $100)

Real Estate Marketing Fee

Prorating of real property taxes

Prorating of maintenance fees

Existing mortgage balance

Termite damage treatment

Structural home 1 systems repairs

Compliance Fee $____________

ADDITIONAL  EXPENSES  OF  BUYER  IF  A  MORTGAGE  IS  OBTAINED:

Mortgage title insurance policy                                      Assumption fee on existing

Service fee or origination fee on new mortgage             Intangible tax .002 on new mortgage

Documentary stamps on note                                         Recording mortgage

(.35 per $100 on mortgage)                                          Credit report

Lender’s attorney fees                                                    Escrow account (taxes and insurance)

Appraisal fee

ESCROW  DEPOSIT  CHECKS:

Escrow deposit checks must be deposited immediately upon receipt. In the event a refund becomes necessary, the funds will be returned when the check clears the bank. Make escrow checks out to:_____________________________________________________________________________________

UTILITIES:

The city of Cape Coral has undertaken an extensive expansion program of water and sewer improvements in many areas of the city. Lee County has also begun an expansion program in certain parts of unincorporated Lee County such al Lehigh Acres. The property, which you contracted to purchase, may or may not be in the area currently planned for water and/ or sewer  expansion  service. As water and/ or sewer service become available, individual property owners will be assessed at that time. Please contact the clerk’s office for the City of Cape Coral or the clerk’s office for Lee County for information regarding water and/ or sewer availability and existing or pending assessments. Homes on well water may contain hydrogen sulfide or lead and should be tested.

ZONING:

Due to several zoning changes in county and the implementation of the Cape Coral Comprehensive Plan, it is the purchaser’s responsibility to make sure existing zoning and other pertinent regulations allow for the buyers intended use of the property.

VACANT  LAND:

Buyers are to ascertain from all Governmental agencies that the Land is suitable for intended purpose and requirements thereto. Burrowing Owls, Gopher Tortoise and Bald Eagle nests can limit and/ or restrict construction on your property . It is the buyer’s  responsibility to inspect the property and abide by city, state and federal guidelines.

SCHOOL  DISTRICT:

School district are not guaranteed. Contact the Lee County School Board (239) 377-8248

SEPTIC  TANK  ABANDONMENT:

The buyer acknowledges that pursuant to rule 1 OD-06.053 (Florida Administrative Code) whenever the use of an onsite sewage disposal system is discontinued following connection to a sanitary sewer, the system shall be abandoned within 30 days and any further use of the system shall be prohibited. Contact the local governmental utilities department for further regulations.

RADON  GAS:

Radon gas is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present  health risks to person(s) who are exposed to it over time. Levels of radon gas that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon gas and radon testing may be obtained from your county public health unit.

HOMESTEAD  EXEMPTION:

The home you are interested in purchasing may be homesteaded. Homesteading a home caps the tax assessments on the home during ownership. A change in ownership or title on the property may change the tax basis on the property. MLS records do not necessarily reflect current tax assessments.