Never ask a realtor a question about financing ! Many tell thier clients its only 3%, ! LOL

Call several title companies, and NEGOTIATE the lowest price!


.....and in many instances, your realtor will direct you to a closing attorney that is more beneficial to them instead of you!

You could probably figure around 2500 for closing costs on 95k. That's an estimate. Your realtor can run the numbers for you to get a more exact estimate. Title work, insurance, recording fees, etc all vary.

I would call three local Real Estate attorneys and ask them what the total fees would be and then go with the cheapest- of course be sure that he/she will do a proper job. Best to first ask your agent for three referrals and use their recommendation on which attorneys in the area are reputable

Figure around $2500...then add/deduct for taxes and insurance. The title work etc should run $800 - $1500

There would be 2 category of costs associated with a transaction: mandatory and optional. When you say closing costs, I would not normally include an appraisal (about $400) or an inspection ($350-%600) as these are typically costs incurred in the purchase agreement and not at closing.

Mandatory closing costs include title search, title abstract or attorney review, recording fees, closing protection coverage fee. Depending on company you choose these would range from $800-$1100.

There would be optional tbut recommended) owners title insurance. On a $95,000 purchase this would be about $422. Visit this link to Baton Rouge Title where you can view a chart of title insurance costs. Check with them on the exact amount. for a cash sale where no mortgage insurance is involved. http://www.brtitle.com/services.htm

Most if not all of these costs can be negotiated to be paid by the seller. It is customary in Louisiana for the Buyer to pay appraisal and inspection fees, but not required by law.

It can range greatly depending on who pays for the owners title policy. depending on the customary practice in your area, title insurance is broken up by owners policy and lenders coverage. In Colorado where I practice, the owner coverage is paid for by the seller. If it's the same in your area, I would guess your title charges would be around $600. I would consult with a title company and ask them how much they would charge you as a buyer for a cash deal. Chicago title is a national title insurance company and I gave you a link below. Other than title charges, you have your home inspection and appraisal ( not necessary if you're buying with cash , but you better be sure you're right on the value!) You wouldn't have an escrow account since you don't have a mortgage. You would also get a credit for taxes from Jan 1st to the close date. this is a credit for taxes which the seller is responsible for in this calandar year and haven't been paid for yet, but will be your responsiblity when the tax bill comes. hope this helps!