Are there closing costs for a cash sale in real estate?

Edith J. Thomas
Home Buyer
Ranger, TX

I am buying a house in Texas for cash. I am paying $40,000 and need to know what kind of closing costs there might be.

Answers (5)
Best answer: Naima Sumner
First to answer: Lynn911.com…
Naima Sumner
Agent
Dallas, TX
BEST ANSWER

Fees should include the following: These are all estimates. The title company will give you the actual amount depending on the city, county and particulars of the contract.

Title company escrow fee averaging $250
Document preparation $250
recording the deed $40
Any HOA transfer fees - range between $50-$300
Title policy is recommended although not needed if the seller is not paying for it about $434
A survey would also not be required but recommended and will vary depending on amount of land... it could be in the $$$

Naima

Thu Jun 12 2008, 22:58
Heather Lopez
Agent
Aventura, FL

Yes, there are closing cost for cash salebut not as much as if you were to do a conventional, fha or va loan. depends if you are the buyer or seller. seller has commission , search exam and closing fees doc stamps , tax prorate , ... uyer on the othe hand has recording fees, owner title policy .. if applicable title exam survey....you can get these info on hud website ..us department and urban development web site.
fees may vary based on state...always consult ...an attorney

Thu Jun 12 2008, 16:13
Debt Free Dave
Agent
85260

You will still have recording fees and title and escrow fees. Just ask your title officer and they can give you a detailed list.

Thu Jun 12 2008, 15:50
Bruce Lynn
Agent
Texas

Yes. Have the title company you want to use run a sample closing statement for you. It won't be a lot, but title insurance is recommended, potentially a survey, escrow fees, doc prep fees, insurance, etc. If you're in Ranger and there is a significant amount of land you might also pay a landman to research mineral rights if you want them. I'd also pay an attorney to write the contract. Perhaps $200-$300....if your realtor is not invovled.

Web Reference: http://www.teamlynn.com
Thu Jun 12 2008, 15:48
Lynn911.com Dal...
Agent
Dallas, TX
FIRST ANSWER

Yes you will always have closing cost whether it is for a cash sale or financing. That includes if you were also selling a property. Your realtor or title company should be able to provide you that info.

http://www.lynn911.com

Thu Jun 12 2008, 12:47

Didn’t find what you were looking for? Ask a question!

More Q&A about Home Buying in 76470

View all »
I am going to buy a home from a friend.
Answered Thu May 28 2009, 12:42 by Luke Allison in 76470
Read the answer
Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback