Home Buying in 34688>Question Details

David, Home Buyer in Tarpon Springs, FL

how much are costs usually approx for buying a condo on top of purchase price?

Asked by David, Tarpon Springs, FL Wed Nov 12, 2008

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The previous answers should give you an idea of what to expect for the closing costs. However, there is one other consideration I will throw out there since it's unknown to me if this pruchase will be your primary residence. If you have not owned a home for the last three years and this is to be your primary residence, you could possibly qualify for the State of Florida's down payment assistance program. The program can not only provid money for down payment assistance, but can include your closing costs as well. If this is the case, please let me know and I will be glad to send you additional information or answer any questions you may have.
1 vote Thank Flag Link Wed Nov 12, 2008
Purchasing a single family or a condominium are very similar. You should receive these items on what is called teh good faith estimate when you apply for a loan. Basically you will paying state tax stamp0s. on average $7.50 per thpousand of teh sales price, it differes state to stae, you will pay a prorated property tax, the closing attorney usually charges $500 with their associate fees and recording costs and then there are your mortgage companies points which can be from 1 to 2% of the loan amount. On average on any transaction you will pay 3 to 5% of your loan amount in closing costs. Your best bet is to conbtact a local and trusted mortgage company who can quote you actual number. I hope this helps.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Nov 12, 2008
I usually quote 2-3% of purchahse price as a "buyers' cost to close. Some of the additional costs include;

Appraisal
Recording Fees
Title Insurance
Legal Fees
Insurance
ProRated Property Taxes

These, along with

THE MORTGAGE CLOSING COSTS

More details can be found at the link below.
0 votes Thank Flag Link Wed Nov 12, 2008
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