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Who is responsible to pay title insurance fees in Michigan? Traditionally the buyer is responsible to pay the lender's title insurance fees and the seller is responsible to pay the owner's title insurance fees. These fees, however, may be paid by either party if agreed to differently in the purchase contract.

One important requirement is that all contracts for purchase or sale of real estate must be in writing. An offer made and accepted in a phone call or conversation is not enforceable. The buyer in a FSBO process should be prepared to make an offer in writing.

In Michigan, sellers typically pay for the title and closing service fees, transfer taxes, and recording fees at closing. Optional costs for sellers include buyer incentives, pro-rated property taxes, or for an attorney. Buyers, on the other hand, pay for things like mortgage, appraisal, and inspection fees.

REALTORS shall submit offers and counter-?offers objectively and as quickly as possible. REALTORS shall continue to submit all offers and counter-?offers until closing unless seller has waived this obligation in writing.

The closing statement typically lists fees in two columns, one detailing the buyer's expenses and one detailing the seller's expenses. The amount of cash the buyer must give the seller has its own entry at the bottom of the document.

Does the seller pay closing costs in Michigan? Yes, sellers pay closing costs in Michigan (and every state). Sellers are on the hook for a number of expenses, including real estate commissions, one of the heftiest costs associated with any real estate transaction.