Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law

When the closing costs are rolled into the mortgage, is the

Customer Question
When the closing costs are...
When the closing costs are rolled into the mortgage, is the down payment calculated on the price of the property alone or the total of property price P
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: (Con't) PLUS the closing costs?
JA: Has any paperwork been filed?
Customer: New Jersey...just received the papers...nothing has been "filed" yet.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Note: this is a manufactured home. Not a mobile home or trailer
Submitted: 1 year ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 15 minutes by:
11/11/2016
Real Estate Lawyer: Barrister, Lawyer replied 1 year ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 38,714
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

.

is the down payment calculated on the price of the property alone or the total of property price P

.

As a general rule the down payment has nothing to do with the final closing costs or any other concessions that the seller or buyer agree to.

.

So if the purchase price is $100,000 and the lender is requiring 5% down, the the buyer has to put down $5,000...period. If the closing costs end up increasing the eventual loan amount over the $100K, that wouldn't affect the down payment amount.

.

.

thanks

Barrister

Ask Your Own Real Estate Law Question
Ask Barrister Your Own Question
Barrister
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 38,714
38,714 Satisfied Customers
Experience: 17 years real estate, Realtor. Landlord 26 years

Barrister is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

38,714 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,657 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,367 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,899 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
I am considering buying a cheap mobile home in an expensive
I am considering buying a cheap mobile home in an expensive "village" type mobile home park in Florida. If I change my mind and abandon the mobile home, with prior notice, can I continue to be held li… read more
Barrister
Barrister
Lawyer
38,714 satisfied customers
I am looking for a cancellation of contract for real estate
I am looking for a cancellation of contract for real estate form … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,996 satisfied customers
My real estate agent and i completed a real estate
my real estate agent and i completed a real estate transaction back in November of 2007. there has been a problem with the transaction and i would like to take her to small claims court. however, i wa… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
Real estate question. NC. Mortgage. Need to know if fha pr
need to know if fha pr va loans will allow for spring water instead of well… read more
N.Brown ESQ
N.Brown ESQ
Juris Doctorate
11 satisfied customers
In commercial Ohio real estate is their such an agreement as
In commercial Ohio real estate is their such an agreement as a NNN lease that is also a land contract installment which offers some type of equity ownership during or after the lease terms ?… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I own a mobile home that was altered by the previous owner
hello I own a mobile home that was altered by the previous owner and now the city want to fine me … read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,511 satisfied customers
If I'm a mortgage banker, can I own a real estate brokerage
If I'm a mortgage banker, can I own a real estate brokerage and have my agents use me as their preferred lender? … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,996 satisfied customers
I have a real estate question related to Florida Real Estate
I have a real estate question related to Florida Real Estate law. … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,495 satisfied customers
Me and my mom are both on the deed for are mobile home that
me and my mom are both on the deed for are mobile home that we own, but she just passed away , do i keep my mobile home … read more
Damien Bosco
Damien Bosco
2,998 satisfied customers
Real estate law I'm the seller i signed real estate contract
Real estate law I'm the seller i signed real estate contract now i dont want to sell I initialed the contract instead of signing the sale price was illegible so the seller sent an amendment for me to … read more
Damien Bosco
Damien Bosco
2,998 satisfied customers
I have a Reverse Mortgage and became behind on real estate
I have a Reverse Mortgage and became behind on real estate taxes. I entered into an installment agreement with Riverside County, which my lender ignored and paid in full with the County. Now the Lende… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,657 satisfied customers
My father owns a mobile home in a mobile home park in
My father owns a mobile home in a mobile home park in Illinois . He is not going to able to live there any longer due to health reasons. So I need to sell the home. The home has a utility shed made ou… read more
Michael Bradley
Michael Bradley
JD
1,131 satisfied customers
Can you tell me if in Massachusetts a Mobile Home is
can you tell me if in Massachusetts a Mobile Home is considered personal Property or Real Estate - is is in a park & on rented land? … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have a mobile home in a mobile home park that I pay
I have a mobile home in a mobile home park that I pay $300.00 a month for I own the mobile home. The park say that they are going to be fixing some of the things in the park like driveway and septic a… read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
34,926 satisfied customers
I can no longer pay my mobile home lot rent and the mortgage
I can no longer pay my mobile home lot rent and the mortgage on the mobile home, what legal options do I have. … read more
Barrister
Barrister
Lawyer
38,714 satisfied customers
I live in a 55 plus mobile home manufacturing park where I
I live in a 55 plus mobile home manufacturing park where I own the home. I was told by manager that my daughter, age 44, could not live here permanently. My contracts states that ONLY ONE HOMEOWNER MU… read more
Barrister
Barrister
Lawyer
38,714 satisfied customers
I own a mobile home park. A lady abandoned her mobile home
I own a mobile home park. A lady abandoned her mobile home August of 2016. I believe there are no mortgage on the trailer. I would like to repossess the trailer for the lot fees and late charges for t… read more
Attyadvisor
Attyadvisor
Doctoral Degree
6,888 satisfied customers
There is a mobile home on my farm owned with a mortgage by
There is a mobile home on my farm owned with a mortgage by my elderly father who is now in a nursing facility & no longer lives on his own. I would like the bank company or whomever to remove it from … read more
Barrister
Barrister
Lawyer
38,714 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x