Escrow & Title
A seller's closing costs in Nebraska typically include all of the following EXCEPT:
AReal estate commission
BDocumentary stamp taxes on the deed
CBuyer's loan origination fee✓ Correct
DPro-rated property taxes
Explanation
The buyer's loan origination fee is the buyer's cost, not the seller's. Seller's costs typically include commission, documentary stamps, pro-rated taxes, and any agreed-upon concessions.
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Key Terms to Know
Closing Costs
Fees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Math Concepts
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