Home Buying in Scottsdale>Question Details

Masha Vladi, Home Buyer in New York, NY

Does buyer pay any closing cost in AZ in cash transaction?

Asked by Masha Vladi, New York, NY Fri Nov 8, 2013

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15
Yes, there are closing fees for each side whether it's cash or financed. Cash is just much lower.
0 votes Thank Flag Link Fri Dec 6, 2013
The buyer will be paying their title and escrow fees in the transaction and whatever else was agreed upon and included in the contract for purchase. It typically is in the range of 500-1000.00. Depending on what title company is charging. It is all negotiable and then agreed upon in writing first.
0 votes Thank Flag Link Sun Nov 24, 2013
Yes, the buyer is responsible for half of the title and escrow fees for the transaction as the seller pays the other half. The fees are not significant though as they relate to the actual purchase price of a piece of property. I wouldn't expect all that much more than $500.

If I can be of any help in your home search feel free to click on my face to contact me as I would be happy to help :)
0 votes Thank Flag Link Fri Nov 22, 2013
If is cash transaction should be between $350-$500 range, depends on the purchase price.
What is your price range? If you don't mind to provide me with more detail I can assist you better.

I can help!

Best Regards,

Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
Bianca@InvestInArizonaHomes.com
Website: http://www.InvestInArizonaHomes.com
0 votes Thank Flag Link Tue Nov 19, 2013
It is all negotiable!


Best Regards,

Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
Bianca@InvestInArizonaHomes.com
Website: http://www.InvestInArizonaHomes.com
0 votes Thank Flag Link Tue Nov 19, 2013
We don't have excise tax, and we don't use attorneys here (agents write the offers and escrow closes it). However as realtors we advise you have an attorney review the contract. The bulk of a buyer's closing cost are the costs charged by their lender if they are getting a loan.
0 votes Thank Flag Link Tue Nov 12, 2013
This question was about Cash transaction
Flag Fri Nov 15, 2013
It's totally negotiable, but call my team at 480-775-7700 in the next 24 Hours, mention closing costs certificate, and I'll give you a certificate good for up to $1000 towards your costs. Means that even if the seller won't pat, I will.

Lester Cox
Pacific Arizona Realty
http://www.WeSellAz.com
0 votes Thank Flag Link Mon Nov 11, 2013
Marsha -

I have a 1-page schedule showing you how all closing costs are typically split between the Buyer and Seller in Arizona. Please send me your email address and I will send you a copy of this schedule.

Let me know if I can assist you in any other way.

Regards,

Rob Ryan
The Gallery Collection
The Luxury Divsion of West USA Realty
602-828-1589 c
RobAZHomes@gmail.com
0 votes Thank Flag Link Mon Nov 11, 2013
Yes. Generally they are limited to escrow fees since there are no loan fees. You can ballpark them at about 1% of the purchase price thought they often are less.
0 votes Thank Flag Link Sun Nov 10, 2013
Hi Masha, Typically a buyer will pay closing costs related to title fees, name searches and recording fees for example. Cash buyers can always ask the seller to pay all the fees or contribute to those closing costs as part of the contract negotiations.
Hope this helps.
0 votes Thank Flag Link Sun Nov 10, 2013
Masha,

Although it is true that a cash buyer does have minimal closing costs, depending on the sale price, EVERYTHING is negotiable. With that said, in our Arizona real estate market, inventory is very sparse. A good home that comes to the market is receiving multiple offers within hours. However, CASH is KING. My suggestion to you would be to go in with a nice, clean offer and pay your own closing costs to get the best price and be considered a top contender to get that property. As you probably know, a cash buyer is much preferred by Sellers.

Look up title companies in whatever city you are interested in purchasing a home and call them for a quote on closing costs. Tax pro-ration, HOA fees, etc. will also be a factor depending on the property.

Good Luck! And if you have further questions or if I can be of assistance in any way, feel free to contact me anytime!

Robin Bryant
Realty Executives
North Scottsdale & Valley Wide
0 votes Thank Flag Link Fri Nov 8, 2013
Masha -

A cash buyer will have very minimal closing costs: Escrow Fee, Insurance Policy for first year, hoa fees, transfer fees and deposits if applicable and prorations of taxes and hoa fees if paid by seller already. Of course everything in life is negotiable, so you might even negotiate that the seller pay up to a certain amount of your closing costs. Then you may not have any c.osts over and above the agreed upon price.

If you need any help please let me know.

Howard Rudin -
602-390-8088
WEST USA REALTY
TOP 1% IN SALES WEST USA REALTY
TOP 2% IN SALES ARIZONA REGIONAL MULTIPLE LISTING SERVICE
0 votes Thank Flag Link Fri Nov 8, 2013
Yes, you still have to pay for the buyer's portion of the escrow/settlement fee as well as prorated pre-paid taxes and HOA fees and a few miscellaneous fees. Count on around 1% of a typical transaction for closing costs with a cash buyer.
0 votes Thank Flag Link Fri Nov 8, 2013
As some others have noted, you could ask the seller to pay these, but that's quite unusual with a cash offer.
Flag Fri Nov 8, 2013
Masha,
Email me if you would like to get a copy of my one-pager reference sheet - Closing costs: Who pays what in Arizona. The chart covers who customarily pays what in Arizona in various types of transactions: cash, conventional , FHA or Va loans.

On a cash transaction the Buyer doesn't have a lot of closing costs - probably half of the escrow and recording fees, HOA transfer fee (if home is in a HOA), and property inspection fee.
Taxes may sometimes be a little tricky to understand, as they are paid in areas in AZ. So they may appear as Buyer credit on Settlement statement. I have a very simplified version of the HUD-1 Settlement Statement for easy reading if you are a non-accountant ....

Steffy Hristova, MBA, SFR, Realtor®
HomeSmart
Tel: (480) 966-9353
3131 E. Camelback Rd. #125
Phoenix AZ 85016

http://www.trulia.com/blog/SteffyHristova/
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Fri Nov 8, 2013
Yes a buyer will pay closing costs related to title fees, name searches and recording fees to name a few. Granted, a buyer can always ask the seller to pay the fees or contribute to closing costs as part of the offer negotiations.
0 votes Thank Flag Link Fri Nov 8, 2013
Approximately how much are these fees?
Flag Fri Nov 8, 2013
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