Home Buying in 36830>Question Details

Poa@bellsout…, Home Buyer in 36830

What are the closing costs included when buying a house with cash?

Asked by Poa@bellsouth.net, 36830 Tue Feb 14, 2012

poa@bellsouth.net

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Dan’s answer
Consider the opportunity cost of deploying cash into a declining(real terms) asset class. If you had your cash in a cheap and appreciating asset class such as silver then you would be up about 30% from the start of 2012.

Cash in real estate is a severe liability guaranteed to lose you wealth in real terms.

Consider buying realty when rates are closer to 20% and home prices are 75% lower.

Realty continues to be overbought and illiquid.
0 votes Thank Flag Link Tue Feb 28, 2012
poa@bellsouth.net, All mortgage fees are eliminated obviously, so taxes, property insurance, Title insurance if applicable, attorney or representative fees may apply in your area, and recording type fees. Very minimal. The mortgage fees take up the majority of fees in most transactions. Request a best estimate of settlement costs from the title company or your representative.

Congratulations and good luck,

Rob
0 votes Thank Flag Link Wed Feb 15, 2012
Legal fees. Any applicable taxes, including filing fees (which may be partly based upon the number of pages in the deed). Title insurance, should you elect to get that. Your attorney should give you a complete accounting before the closing takes place.
0 votes Thank Flag Link Tue Feb 14, 2012
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