Home Buying in 11373>Question Details

Yungyung, Home Buyer in 11373

hi, i bought a coop in cash @ Queens, NY for 93K, how much the closing cost would be?

Asked by Yungyung, 11373 Mon Mar 21, 2011

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7
Your agent or your attorney would be able to assist you with this.
0 votes Thank Flag Link Wed Mar 6, 2013
Johnny ..johnn... need more formula to solve this problem..Duuuhhhh
0 votes Thank Flag Link Fri Jun 10, 2011
John, the guy said a CASH purchase. All Bank related fees do not apply. The bulk of your fees will be for your Attorney. Other fees would be for the Coop application, move in fees and credit check, the appraisal (not required if paying cash but a good idea anyway) and the pro-rated maintenance. The seller pays transfer taxes and any "flip" tax if applicable. Good luck.
0 votes Thank Flag Link Sat Apr 2, 2011
Hello to who may concern:
Estimate about 4 to 6% of the purchase price coop, more or less & all depends on how ur bank is charging u If any points or Principle mortgage insurance if any?? Down payment is also a factor? If putting 20% down& assumming u hv good credit over 730 score then u don't hv to pay pmi... Every bank charging 1 or more points & in some cases none!! To make story short, u should ask ur mtg agent & lawyer to idemized & also shop around for a better deal & always good to compare rates... Closing cost included all ur mtg & lawyer fee or other fee's if any!! Owner or Buyer r different fee's for closing cost... I don't knw if u r a owner or buyer?? Anyway, If u need any further assistance for Real Estate or for me to referral u a Good bank then don't hesitate to gv me a call??!! Thanks! Best regards! John Wu @ Re/max City 917-968-5297
0 votes Thank Flag Link Mon Mar 21, 2011
Ask your attorney for a breakdown of closing costs--generally you have your attorney fees, co-op application fees, credit check fees, move in deposit if applicable, lein search, pro-rated adjustments such as maintenance costs, etc.
0 votes Thank Flag Link Mon Mar 21, 2011
If you had a mortgage, 4-5% of sale amount is typical. As a cash buyer, there may be very little to be preapred for....taxes adjustments, etc...not much. Bring a few blank checks.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Mon Mar 21, 2011
Always be prepared for 4-5% of the sales price for any purchase and if you should go home with some of that cash in your pocket, you will be wearing a smile.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Mon Mar 21, 2011
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