Home Buying in 19154>Question Details

Chris, Home Buyer in Philadelphia, PA

I am purchasing a house via cash how much should I expect to pay in closing closts. Purchase price of the house is $47500

Asked by Chris, Philadelphia, PA Wed Oct 9, 2013

Help the community by answering this question:

Answers

4
Hi Chris,

Here is a rough estimate of the closing costs that you will incur:

Conveyancing Fee $290.00
Notary Fee $35.00
Title Insurance $1,540.00
Deed Recording Fee $235.00
2% Transfer Tax $950
There would also be a city tax proration payment.

I hope this helps. Feel free to contact me if you need any additional clarification on cash purchases. I work with cash investors and developers regularly.


Thanks! -Jo

--
Jo Major
Keller Williams Realty Group
JoMajor.kw@gmail.com
0 votes Thank Flag Link Thu Oct 17, 2013
Are you using a Realtor to represent you and if not then YOUR Title Company will do a closing cost sheet for you with some basic information If you would like my help please call me in my office at 215-725-5700 X49

Philip J. Cunningham Sr.
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia, PA 19152
215-725-5700X49 cell 267-934-1971
philcunningham2004@yahoo.com
Web Reference: http://www.GreatPaRE.com
0 votes Thank Flag Link Thu Oct 17, 2013
Please don't forget Transfer taxes...that's a biggie. 2% in Philly & 1% in Counties. Add that to Title Ins & Misc charges for your grand Total.

Leon Aksman "Mr. Brickhouse"
0 votes Thank Flag Link Wed Oct 9, 2013
Hi Chris
You won't have any mortgage related fees obviously. However, there are still some fees related to paying cash.

So long as the seller is providing a Seller's/Owner's title policy, you shouldnt have to purchase one yourself. This will save you about $600-$700. There are endorsement fees, recording fees, and the fee the title company will charge to conduct your closing. All told, this should run you between $500 and $1000. Not much more.

In addition, your realtor may charge a brokerage fee. These are common nowadays and usually run between $250 and $500.

Your realtor should give you a detailed breakdown of these fees to get you prepared.

Good luck!
0 votes Thank Flag Link Wed Oct 9, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer