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Cash to Mortgage (Assumption)

This is where you will post the explanation and information about Cash to Mortgage (Assumption)....

Seller Responsibilities   Buyer Responsibilities
  1. Doc. Stamps on Deed
  2. Abstracting
  3. Taxes prorated from Jan. 1 to date of closing.
  4. Real Estate commission
  5. Interest proration (if applies)**
  6. Principal amount of Mortgage being assumed.
  7. 1/2 of Mortgage Transfer Fees and costs, pursuant to contract. We suggest you check with the lender as they may require approval of buyer, increase in the interest rate, and assumption and approval fees in excess of those anticipated.
  8. Add county surtax for other than single family residential.
  1. Recording fees for Deed, Condo Approval, Assignment of Lease, etc.
  2. Escrow Account Balance
  3. Prepaid Homeowner's Insurance and/or Flood Insurance from date of closing to date of renewal.
  4. Prepaid interest (if applies)**
  5. 1/2 of Mortgage Transfer Fee (see item 7 under Seller Responsibilities)
  6. Inspection Costs as contracted, i.e., Termite, Roof.
  7. Owner's Title Insurance
  8. Doc. Stamps mortgage balance
  9. Condo Approval Fee (if applicable)
  10. Closing Fees
  11. Title Examination Fee
**FHA/VA interest runs in arrears; Conventional varies from lender to lender.
Welcome to Lawyer's Trust Title of Miami, Florida

Law Offices of
Walter A. Aņon, P.A.
Attorney and Counselor at Law

Royal Oaks Office Park
7975 N.W. 155th Street, Suite A
Miami Lakes, Florida 33016

Phone: (305) 821-5419
Fax: (305) 821-7178

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