I 'm buying a foreclosed home. I'll be paying cash with no lender. What closing costs and fees can I expect?
It's a foreclosed duplex in Denison, TX. I'm paying $15K for it and am a first time home buyer. I put up $500 as earnest money with my offer. I am using the real estate agent who also represents the bank that owns the house. How much more do I need to be prepared to pay at closing. Is there anything different since it is a foreclosure?
Answers (1)
FIRST ANSWER
Most likely all you will be charged is an escrow fee. Based on the cost of the property it should be minimal. Check with the escrow officer handling the transaction. They will have prepared a settlement statement with a detailed breakdown of all charges. Hope this helps!
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