Home Buying in 91316>Question Details

dancelara, Home Buyer in Tarzana, CA

how much is escrow cost on $285,000.00 cash condo purchace?

Asked by dancelara, Tarzana, CA Sat Mar 10, 2012

Help the community by answering this question:

Answers

7
It's a fee charged by the title company. Escrow Fee is pretty much the same as a closing fee. It actually has nothing to do with an actual escrow account for taxes and insurance.

Reference Link: http://titlecompanies.net/
0 votes Thank Flag Link Thu Jun 11, 2015
Hello Dancelara,

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

Thank you

Alex Khalilifard | Realtor - General Contractor
BRE License #: 01937591
Listing and Selling Agent
RE/MAX
Alex@TopHomesLA.com
Direct: 818.925.8088
http://www.TopHomesLA.com
0 votes Thank Flag Link Fri Mar 20, 2015
It would be something like this:
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%. ).
Good luck.
0 votes Thank Flag Link Wed Nov 26, 2014
Nobody is giving you a complete number:
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
0 votes Thank Flag Link Sat Mar 10, 2012
The amount of escrow fees you pay depends on how they're allocated between the buyer and seller. However, if you're looking at a regular sale with cash and follow local conventions in your allocation, then you should be looking at about $50-100 in recording fees and about $2K in pre-paid taxes and HOA fees. Sellers generally pick up most of the tab. It's certainly no where near 2-3% of your purchase price for the buyer.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Mar 10, 2012
Hello Dancelara,

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
KawaindPayne@gmail.com
714-293-1151
0 votes Thank Flag Link Sat Mar 10, 2012
Hi Dancelara,

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!

Barbara Grandolfo
0 votes Thank Flag Link Sat Mar 10, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer