One of the main variables is Title Insurance. It is a profit center for attorneys, and the mark up varies considerably. Before you commit to a closing attorney, ask for a quote on the title insurance.

Also, some title companies include a rider that covers your appreciation in the home as the value increases. Since, as an investor, you are probably buying low, this feature would be desirable. Ask about it, or call me for the name of a closing attorney who provides it.

David,

Way to get that ruler out and slap them on the hand.

Best thing would be to contact a closing attorney, but Ken is right and on a cash deal obviously your costs are less than a loan. My cash sales are somewhere between 900-1300 depending again on the sale price and cost of buyer's title insurance. Legal fees are negotiable and my closing attorney charges $350 plus title prep fee. most of your costs are fixed accept for title insurance which is based upon sale price. if you need a good closing attorney let me know and I will recommend one to you. listen to the question people, he/she said "CASH".

About 2.9% seems to be an average!

Bbreezy,

Closing costs will very based on the properties location (pre-pay taxes) and the lender and closing attorney's fees; therefore, the quickest calculation of estimated closing cost sis multiply 3% of sales price. When you choose your lender and closing attorney, they will provide you with a good faith estimate of your actual closing costs. Please don't hesiste to contact me with questions.
Chip
404-275-3575

Dear homebuyer,

The approximate closing cost on a cash sale to cover attorney's fees, title search, and title insurance would be around $750-$1000 depending upon the price of the home (title insurance increases as sales price increases).

The prepaid items would primarily be the appraisal fee ($400) and an approximate 4-6 months of property taxes to cover the current tax period. Escrow set up for future taxes and hazard insurance (home owner's policy) would not be included as they normally are when a mortgage exists.

If you need referrals for a competitive and very competent real estate attorney, you can call me at (770) 316-8072.

Respectfully,

Ken Guillen, Broker
New Life Real Estate Group, INC.

Gbreezy, Seems you have a new home in your future...congratulations. Closing cost and prepaids for a cash purchase would be....
closing attorney fees
title insurance
title work fees
prorating of taxes
homeowners insurance
recording fees
intangible tax

I am sure I left off something so everyone help me out here.

Kathy Seger