Closing cost on cash purchase

Youngster
Home Buyer
Stevensville, MD

My Parents have recently purchased a new home in White Plains, MD. They will be purchasing the house with the proceeds from selling their current home, so it will be a 100% cash transaction.
Considering the above, what will be the estimated closing cost? I used the closing cost calculator provided by Trulia, and it is returning conflicting results.

Answers (3)
Mansur Hasib -...
Agent
Maryland

The title company should be given the following information:
1) Sales price
2) Taxes
3) Address (county)
4) Buyer is 1st time home buyer in Maryland (buyer exempt from State transfer tax and seller has to pay)
5) HOA fees
6) Date of settlement
7) Cash transaction
8) Whether or not transfer taxes are being split between buyer and seller (most builders will try to make buyer pay all) -- this will be written in your contract.

Give this information and ask for a pre-HUD1 estimate you should have a pretty close estimate. Title company fees will be listed in the 1100 series and this section will allow you to compare prices between title companies.

Wed Oct 7 2009, 11:57
BenitoGarza....
Agent
Minneapolis, MN

Correct advise by Bill.
Contact a Title company which will handle your parents transaction.
Minimun but some expenses, goverment, local and state, closing company, propably a recommended title insurance and title search.

Wed Oct 7 2009, 11:27
Bill Wootan's T...
Agent
Waldorf, MD
FIRST ANSWER

You need to contact a title company - the one we use is First Maryland Title and their number is 410-863-1552 - tell them Bill Wootan from Century 21 H T Brown had you call them - I think they will give you a better deal!

Wed Oct 7 2009, 10:36

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