Home Buying in Cedar Bend>Question Details

Linda Moore, Home Buyer in Cedar Bend, Fort Myers...


Asked by Linda Moore, Cedar Bend, Fort Myers, FL Thu Jan 13, 2011

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Not sure why there would be closing costs of "thousands" I just bought (about 2 miles South of Cedar Bend) at $42,000 (cash) and my closing costs were approximately $500... I am not a realtor, so I can say this... look into Cedar Bend before you buy. There is a huge number of "renters" vs :owners living in that complex and needless to say, it can be a bit rough around the edges.
1 vote Thank Flag Link Fri Jan 14, 2011
Debi, We are looking to purchase in the Ft. Myers area. can you refer a community that is 55+ with low HOA fees, and low crime activity?
Flag Sat Sep 13, 2014
Hi Linda,
This development has a monthly HOA of $275.00. Your extra closing costs will consist of buyers title insurance (approx. $500 - 700), prorated month of HOA if a foreclosure or regular sale, prorated contents insurance ($200 - $400), filing fees ($50 - 150). Home inspection should be done within first 7 days of contract execution ($200 - $375). If this unit is a short sale then you could be on the cuff for additional HOA dues, attorney fees, interest and assessments.
You should have a buyers agent to help you through all of this. This is our job and you don't pay our commission, the seller or seller's bank does. Let me know if you need further assistance. You can also find the entire FL Gulfcoast MLS on the link below. The system will send you daily updates as well.

Sarah Garrett, Realtor
"Chosen Best in Client Satisfaction 2006-2010" By Gulfshore Life Magazine
Cell: 239-464-8620
0 votes Thank Flag Link Thu Jan 13, 2011
Closing costs can be estimated by your realtor. These fees can vary if the closing dates change. It would be difficult to answer this question without all the details
0 votes Thank Flag Link Thu Jan 13, 2011
I believe Wade is correct on the monthly fees of $275. When you are paying cash, your closing costs are low, but can vary if the seller is requiring the buyer to pay part of the closing costs. This sometimes happens with a bank owned property. Occasionally on a short sale, the seller asks the buyer to pay for the short sale negotiator too. Let me know if I may be of service.
Marge Bennett
RE/MAX Realty Group
0 votes Thank Flag Link Thu Jan 13, 2011
Have no idea about the condo fee amount, but YES, you will have thousands of dollars in closing fees, unless the Seller has agreed to pay them as part of your deal.. And yes, I am talking THOUSANDS of dollars.

Call a Title Company in Florida, and ask for a proposed HUD-1 settlement statement to get an idea of the cost's of paying cash for a condo or home in Florida.

But remember! We have no income tax!

John Fothergill
0 votes Thank Flag Link Thu Jan 13, 2011
Hi Linda, last years HOA fees were 275/Month but each year it changes. Your closing costs on a cash transaction is typically around 1.5% of the purchase price. I am getting ready to list a short sale in Cedarbend for 29,900. It needs some work. You can reach me on my cell at 239.898.4196
Wade Ellis
0 votes Thank Flag Link Thu Jan 13, 2011
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