involved in purchasing an apartment in SF and what are the tax benefits if any?
Hi Talisa,
I know of a BRAND NEW smaller contemporary condo complex in Walnut Creek near BART. A lot of people do not know about it since they do not advertise.
The builder is in financial trouble and pretty much giving these away at $499,000. Great Value. There are about 5 units left.
Send me your email and I wil send you the listing info.
Buyer pays title insurance and other fees associated with your loan. TLoan fees vary exactly as Kevin said. Seller pays the transfer tax which is the largest fee after the borkerage fee which is also paid out of the sellers proceeds.
Talisa,
Regarding closing fees, etc., I tell my clients to estimate about 1-2% of the purchase price for closing costs. The fees vary based on the timing of the sale -- e.g., pro rated property tax bill. The other costs, such as lender/bank fees, etc can vary as well.
That gives you a sense of the fees, but you will get a clearer estimate closer to the time that you would close escrow on a particular property. That closing statement will provide you with more exact numbers.
I hope that helps you to some extent to understand how much to estimate on associated closing costs.
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