2007-05-04 10:56:53 · 5 answers · asked by arelle 1 in Business & Finance ➔ Renting & Real Estate
Even without a loan, you still want and need some of the same protections that the mortgage company requires. I'd strongly recommend title insurance, a survey, a home inspection. These are all your costs in the states we've lived in. You'll also want your own attorney, and you'll pay this cost. An appraisal shouldn't be necessary if you've used a good realtor whose judgment about market prices you trust.
2007-05-04 11:01:45 · answer #1 · answered by Still reading 6 · 0⤊ 0⤋
Fees are normally divided into two categories in the closing of a home purchase
Non-recurring (fees that only happens once)
Points charge for the loan
Loan Fees (processing, administrative Etc)
Title insurance
Escrow closing fees
Recurring (fess that have to be paid even if no sell or purchase is happening)
Taxes
Insurance
Home owners association fees/Mello Roos
These fees are negotiable and should be included in the purchase contract. Since the seller is normally the one receiving cash during a sale they will more than likely pay for fees, though is not a guarantee.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-05-04 18:06:22 · answer #2 · answered by loanmasterone 7 · 1⤊ 0⤋
The last house that I paid cash for I had to pay:
$1,100 in Doc. Stamps
$75 termite inspection
$250 title insurance
$36 pro rated property tax (bought at the end of December)
I am thinking there was also a $75 fee from the closing attorney, but I don't really remember.
2007-05-04 19:32:54 · answer #3 · answered by Sharingan 6 · 0⤊ 0⤋
Are you talking about buying a home that is currently for sale?
The only ones that springs to mind is escrow costs and pro-rating of taxes and other assessments.
That is the only one that you would HAVE to pay. You could have other optional costs like inspections and items of that nature.
This, however, may be different depending on where you are in the country. Laws and practices are different depending on where you are based. You may require lawyers etc depending on your state.
Edit: When i posted, i had not seen Neos message. I think he was smoking crack when he said not to be surprised to see $10k in costs. The very least you would have to pay would be a few hundred bucks (again, depending on your state)
2007-05-04 18:03:35 · answer #4 · answered by MrAnswers 3 · 0⤊ 0⤋
originatio, escrow, title, reserves for the payments, appraisal, home inspection, messengers, e-mail fees, etc etc etc....
so dont be surprised when you see your 10,000 closing cost......
fnfssandoval@yahoo.com
2007-05-04 18:03:05 · answer #5 · answered by neo 2 · 0⤊ 1⤋