There is no formula that would tell you exactly how much the escrow will cost you. There are some very good calculators out there that can give you an "estimate". I have a good one that I use from BankOne. Google it and I hope it helps you
Alex Khalilifard | Realtor - General Contractor
BRE License #: 01937591
Listing and Selling Agent
Escrow Fee near $2 per thousand of purchase price+ $300-400 base. Add doc preparation fees, wire/express, messenger/processing fees, regulatory fees. Keep in mind that all those junk fees are negotiable.
All closing costs on a cash deal for a buyer would be 1%( usually no more than 3%. ).
Because they can't!
The Prepaid taxes changes from month to month, it depends.
Some of the fees can be negotiated away, it depends.
Some of the fees very from title company to tile company, it depends.
Sometimes, Inspections are paid out the Escrow, it depends.
You can ask your Title Company to make up a hypothetical HUD1 for you.
You can also ask your Buyer's Agent.
Good luck and may God bless
Congrats on thinking about buying, now is a great time for buyers!
Now to your question. Closing cost which are paid through escrow include various fees. In a cash purchase there are fewer fees than in a sale with lender financing. In a your case you will likely be charged:
HOA insurance, Title Insurance, Recording fee, and escrow officer fees. The total is usually about 2 to 3% of the sales price.
Fees can vary from escrow company to escrow company. Your agent can request a HUD settlement statement for you which will itemized all cost.
Congrats again, and best of luck to you!
Kawain Payne, Realtor
Escrow fees can vary with each different escrow company. In Orange County, California I have seen a range of $1.75 to $2.50 per thousand of the purchase price. Additionally, there is a commensurate base fee of $175 to $250. If you are trying to determine how much you will need to close your cash transaction, have your agent or escrow officer run a "net sheet" to show all the costs involved in your purchase.
Best of luck!