If you pay cash for a house. What all do you need when closing?

Answer 1

There are a number of good answers here.

I would like to add, get title insurance. This will insure that there is clear title to the property.

Check with the title company as to how much money you need to bring to closing. On a cash deal, they should know very quickly.

Answer 2

As a North Carolina Realtor, here you only need a photo ID and a cashiers check for the purchase price plus closing costs (your attorney should be able to provide you with the exact amount). The photo ID is to comply with the Patriot Act and is required to purchase a home. Hopefully you've already done your paperwork, inspections, appraisal, etc! Keep in mind that closing procedures change dramatically from state to state, so I would start by contacting an attorney or settlement company to get exact answers.

Answer 3

If you're paying cash, then the closing costs will be very low. In San Antonio, a cash closing will be about $300 plus or minus the prorated taxes, plus homeowners insurance if you haven't already taken care of that. Insurance is not REQUIRED, but get it anyhow.

I don't know that you'll even need an ID. If you have cash, put the house in whoever's name you want....

Answer 4

I paid cash for a house last year. All I needed to close was a cashier's check and a photo ID.

Answer 5

Just the check and proof of who you are. I would think twice before paying cash. It keeps you from a lot of tax breaks.

Answer 6

Normally in closing you need credit score, loan papers, W2's and an agent. My guess would you you'll only need to bring W2's, cashiers check, and your ID. Ask your Realtor though, and if you're not using a Realtor ask the bank.

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Answer 7

Banker's draft/cashier's check, ID and a smile!