Yes. You can sell a house in Pennsylvania with a tenant in it, and selling doesn't end the lease by itself. The buyer takes over as the landlord, so the real questions are who will buy a house with a lease attached, whether and when...
A buyer's closing costs in Pennsylvania can include the lender's charges, title insurance and settlement charges, the fees to record the deed and the mortgage, prepaid items and an escrow deposit, tax prorations, the buyer's share of the realty transfer tax and, if the buyer...
A home inspection contingency gives the buyer the right to have the house inspected within a set time and, depending on the terms in your agreement of sale, to ask for repairs or a credit, or to end the agreement. For you as the seller,...
Your net proceeds are what's left of your sale price after everything that comes out at settlement: your share of the transfer tax, what you pay under your listing agreement, your mortgage payoff, tax prorations, settlement charges, and any credits you give the buyer. To...
Once you and the buyer sign the agreement of sale, the time before settlement is spent clearing the conditions in that agreement. The buyer's deposit goes into escrow, the buyer's inspections and loan move forward, the title is searched, and any municipal or association paperwork...
In Pennsylvania, if you sell a house, a condominium unit or a building with up to four units, you must give the buyer a signed and dated Seller's Property Disclosure Statement before the agreement of sale is signed, unless your sale is exempt. The statement...
Philadelphia's realty transfer tax is 4.578% of the sale price, and Montgomery County's is 2%. The state's 1% is the same on both sides of the city line, so the whole difference is the local share: 3.578% in Philadelphia and 1% in a borough like...
By custom, the buyer and the seller each pay half of the realty transfer tax when a house sells in Pennsylvania. That split isn't set by law. It's a term in your agreement of sale, and the state holds both of you responsible for the...
Your sale price is not what you take home. When you sell a house in the Philadelphia suburbs, the realty transfer tax, real estate commission, your mortgage payoff, tax prorations, settlement charges and any credits you give the buyer all come out before you get...