There will be minimal expenses on your end if you are paying cash. The majority of closing costs for the buyer are from the lender. So with no loan you are looking at Excise tax (otherwise referred to as the deed stamp tax) which is simply the purchase price divided by 500. Then your attorney fees for the title search and deed prep. Of course depending on your attorney it could be around $250 to $300 to close. Then there is if you are smart title insurance which will be based on the home and price. There might be a misc fee for recording but besides the Excise tax (based on the purchase price). So for a $100,000 purchase price the excise tax will be $200. So you could close for around $500 except for the title insurance.
Hope this helps,
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Nate Wolf was recently named a FIVE STAR REALTOR by Charlotte Magazine. He is a top producing real estate sales broker, representing both buyers and sellers. He is a member of the National Association of Realtors, The Charlotte Regional Realtors Association and the Carolina Multiple Listing Services. He is licensed in multiple states and serves all areas of Metro Charlotte from Lake Norman to Lake Wylie and Uptown / Center City to SouthPark and Ballantyne.
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