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| *Loan,banking and credit>>>mortgage loan |
How much for closing costs with no mortgage or loan? |
I am planning to purchase a 200,000-250,000 home in the state of Michigan, outright with no mortgage or any loan. Hypothetically, if I purchase a home for 200,000 what will be my total outlay of cash before the home is actually mine? Assuming I am not taking out any loan to finance this home. It's whatever you negotiate. Personally, for an all cash offer, I would have the seller pay for everything. Regards Source(s): Satar Naghshineh satarnag@amirifinancial.com California Licensed Real Estate Broker and Investor 2-3 thousand but I would say closer too two. You will pay title ins. to protect your self and a years worth of home owners ins., again to protect yourself. You will have to pay transfer tax to the state of Michigan and what ever fees the escrow company will charge. If you have not yet bought the home I would advise you to put in your offer that you are an all cash buyer and that you want the seller to pay all of your closing cost. The all cash part will show them that it is a solid deal and they will not have to worry about you being approved for a loan. This will entice them to help you out with the closing cost and thereby save you some money. Good Luck. Real Estate Invsetor It's the same as it would be if you financed. If you plan on doing that make the an offer of ZERO closing costs, after all, you are paying all of it and the bank/owner will still profit. Seriously, you can probably get it done. After all, how many people do they have lined up to pay in full? Although, they may try to stick it to you with unnecessary expenses since the bank won't be making a fortune in interest payments from you. Unless it's the house you really want i would shop around for the ABSOLUTE best deal. Once it's done, it's done! with a cash in hand for the purchase i bet you could get the sell to pay for it. |
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