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Ancillary Costs In The Purchase Of Homes, John C. Payne

Missouri Law Review

The basic legal doctrine governing the transfer of land is relatively simple. Or, to be more accurate, it is not especially difficult to comply with the minimum requirements of the law. Theoretically, the grantor must merely execute and deliver a conventional document. In practice, however, land transfers are sufficiently complex to require the services of a number of persons besides the immediate parties. Real estate brokers, attorneys, mortgage lenders, public officials, and others play their parts and generally demand compensation. It follows that in the sale of land two distinct costs must be met: first, the gross purchase price; and …