#1 Listing and Selling Agent
Keller Williams Westside Realty
Have a great day,
Prudential California Realty
A good rule of thumb is 2%-- give or take a 1% margin. These costs tend to account for escrow and title costs.
These costs can also be split with the buyer and the seller or even taken wholly by the seller (good agent and a good seller)
As a cash offer, you dodge the biggest cost and time taker in the modern home buying experience, that being the loan costs.
However depending on exactly the home, costs and abilities for the seller to cover them can vary.
if you want an individual analysis, talk to anyone of us.
You know nearly each and every one of the southern California realtors here are willing and able to help you one-on-one, if you have not already chosen your representative.
Give any one of us a call. We LOVE helping.
I am sure you have closed on your property by now, but to answer your question here is a list of closing costs items.:
Buyer's portion of the escrow holder's fee
Buyer's portion of title insurance (negotiated per contract)
Inspection fees (if not paid for at the time of the inspection)
Home warranty plan (aka home protection plan)
Homeowner's association transfer fee and fee to provide documents
Homeowner's association dues (prorated)
Property taxes (prorated)
City transfer tax
State tax stamps
Gas earthquake safety shut-off valve (applies in certain areas only)
Miscellaneous fees (notary fees, messenger fees, etc.)
Best of luck.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
With a cash purchase your closing costs should be very low with minimal fees. Likely around 1% or less. To give you an idea, a client of mine paid $1,240,000 cash for a property not long ago and his closing costs were around $5K however each escrow company will vary in their charges. I suggest you call the escrow company and they can give you a closing settlement statement.
Keller Williams Realty
You can estimate the closing costs to be about 2% of the purchase price. Probably it will be less since you are paying cash, as their wouldn't be any prepaid interest. Typically you will pay your share of the escrow fees, and prorated taxes. It also would depend on the sales contract and if you took on any additional costs that need to be paid through escrow. Also, if its a bank owned sale they may require the buyer to pay some costs that are typically associated with the seller. Let me know if you need any additional information.
Ron Escobar, MBA
Broker and General Contractor
Different areas have different customary practices for fees and splits. You can wait for someone who works in your area to chime in or call a local title company and they could give you an estimate.
Lance King/Owner-Managing Broker