Closing costs for a cash buyer will vary depending on what the buyer is focused on while under contract. Items that can be collected at closing include termite inspection (estimated $250), survey (estimated $400), septic inspection (estimated $350), title insurance and endorsement fees(use this link as a guide http://www.fullservicetitle.com/html/title_insurance_calculator.html) title company lien search (estimated $150). Its important to know that all of these and some other precautionary measures are highly recommended when purchasing a home, however they are not required. A cash buyer may choose to waive right to inspections, lien searches and title insurance. A survey is also not mandatory. If you would like to know the risks involved in not taking these steps, I would be happy to answer your call. In many cases an agent can help you navigate by providing sellers property disclosures, existing termite bond information or recent inspection reports, recertification of recent surveys. There are many ways to save on closing costs while still protecting your investment. The best way to protect yourself is to call a licensed professional to walk you through the process. :)... more
Since rent to own properties may not be listed as such, consider working with an agent of your own. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright...... more
My suggestion would be sit down with a RealtorÂ® and a loan officer. It sounds like you have two different, but very important, dreams that you are attempting to accomplish. I think you might want to pick one for now. If owning a home is important to you then concentrate on that and make sure that you purchase within your budget allowing you to continue to save and/or have extra funds for your education.
You can ask for a closing cost credit toward pre-paids and closing costs which would free up some of your ready cash. If you do not have the minimum down payment, ask your agent to check on the USDA homes available in your area.... more
We have a house in Havana that we are looking to sell or rent. It's a 4 bedroom on Lake Tallavana, on the water. When would you be interested in renting, and would this be long term or short? If you'd like to contact me directly my e-mail is firstname.lastname@example.org