Home Buying in 34638>Question Details

Carlos, Home Buyer in 34638

If i buy a house CASH in Tampa , FL - for $161,900. what IS my closing cost? How much money do i have to pay? What other expenses ?

Asked by Carlos, 34638 Tue Sep 29, 2009

Do i have to buy home insurance and how much will be?

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Victoria McGuire’s answer
Paying cash is becoming more and more common in this market. Great question and congratulations on such a great accomplishment!
The majority of closing costs on the buyer's side of a transaction are associated with the cost of obtaining the loan so when you are not using a loan, your closing costs are very minimal. It does depend on which title company is closing the transaciton and what their fees are but the only closing costs you should incur are the cost for the title company to conduct the closing (referred to as closing or settlement fee) and the cost for them to record the deed on public record (very minimal - should be under $50) I would say a good estimate would be well under $500.
0 votes Thank Flag Link Mon May 28, 2012
Between 1-2% of the purchase price.
0 votes Thank Flag Link Tue Oct 4, 2011
Hi Carlos. Congratulations on being able to buy a house without financing. With a cash transaction, your closing costs will be very minimal (usually only a couple hundred dollars or less) and will vary depending on the Title Company handling the transfer of property. If closing is through a law office, fees generally are higher in my experience. Some sellers of bank owned properties require the buyer to pay State documentary stamps.
If you own a home free and clear, you are not required to carry home insurance although it would be wise to do so. Property insurance rates vary depending on deductibles, location, etc. Try http://www.shopandcomparerates.com
Good luck in your home purchase. If I can be of any assistance, call me any time on my cell at 727-541-3743.

Darla Schroeder, Realtor, GRI, e-PRO
Century 21 Real Estate Champions
4350 Duhme Rd
Madeira Beach, FL 33708
0 votes Thank Flag Link Tue Sep 29, 2009
Depends where you buy. There may be CDD and/or HOA fees. Your closing fees would probably max out at 2% of the sales price. Olease provide more details for a better answer
0 votes Thank Flag Link Tue Sep 29, 2009
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