OfflineI wasn't too sure where to post this.. but hopefully I get a reply real soon seeing as I meet up with people in about 2 hrs.
I'm about to purchase the duplex with cash and I was wondering...
What would be my closing cost then??
Deed transfer? Inspection? Not sure, any help appreciated.
Knowledge is Power
- Pimpedoutgeese
__________________
Allow your fear to gently pass. Then genuinely ask yourself,
“What needs to be done?”
good luck with you project !!
Paul
Since I am still new to this all I can tell you is closing costs related to my current project which is a 10k.
They are as follows:
125 - Title search
150 - closing (state min on 10k)
50 - binder of commitment
175 - owner policy
28 - recording fees
40 - deed prep
In addition to this you would have the inspection fee if you chose to do one, which in my area I have seen go from 200 to 400.
Keep in mind closing costs are directly related to the price of the house, and your location, but maybe this gives you a little more information. Please only look at these numbers in relation to a 10k deal in OH, nothing more.
David
Shouldn't be more than a few $100 on the way you described the property and town. Again, it depends on area but I'd expect around $300. Maybe you can talk to seller and have them contribute to closing costs, it doesn't hurt to ask!
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Thats good enough for me, thanks a lot dscvdvr!! You too boss!! Gives me an idea of what I'm lookin at. So you figure if I ask for less I can cover all closing cost.
What do you guys know about contracts?? I'm not too sure which one to use or how to fill them out... I mean I can probably figure out the filling out part but, I guess I don't want them to ask me whats this about and I have to stare at them lol
Knowledge is Power
- Pimpedoutgeese
Allow your fear to gently pass. Then genuinely ask yourself,
“What needs to be done?”