For example: If a property is valued at $100,000 then it really doesn't matter if the bank is asking $75,000 or $125,000 it will still sell for $100,000.
Does this make sense?
well do you have anything to let me know about banks offers ? how much more the banks usually ask for these days?
for a 60 000 dollars home ? will it be 5000 $ more 10 000$ 15 000$ ??????
it seems that banks are asking more than the listing price this days !!
how much it usually cost ?
let me know if you have any clue about it , i m trying to prepare this buying the best i can
i m comming in about a week in orlando
have a great day
The info and figures that Bryant gave you are excellent approximations. As he mentioned, the only fees that vary are on some types of bank owned, they require the buyer to pay what is referred to as stamps on the deed ,which on a 50,000 purchase would be $350.00.
Items which need to be paid by you but are not considered closing expenses in Bryant's response are the cost of a home and termite inspection(done for your protection) the cost of homeowners insurance(Which will vary somewhat from carrier to carrier) and many real estate firms may charge you a processing or administrative fee which typically will be between 200-400.
My best advice is to utilize the services of a skilled real estate professional in your purchasing pursuits. One of the services they should be providing is a detailed estimate of your closing and/or miscellaneous expenses along with the purchase.
If I can provide further assistance, please do not hesitate to contact me.
Accredited Buyer's Representative(ABR)
Keller Williams Realty
If you are purchasing with cash then your closing costs are not much at all. An approximation would be:
Home inspection (optional) $ 375.00
Home Insurance 1,000.00
Closing fee 300.00
Survey (optional) 300.00
***Est. Costs $ 1,975.00
On some foreclosures the lender may require you to pay Documentary Stamps at (.70 per $100) and title insurance ($700-$900)
***All costs are estimates and are being used for illustrative purposes. Costs will will vary depending on the price of the property. There would also be pro-rations of taxes and HOA fees.
I hope this helps.