Are there closing costs for a cash sale in real estate?

Asked by Edith J. Thomas, Ranger, TX Thu Jun 12, 2008

I am buying a house in Texas for cash. I am paying $40,000 and need to know what kind of closing costs there might be.

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7
T.E. & Naima…, Agent, Dallas, TX
Thu Jun 12, 2008
BEST ANSWER
Fees should include the following: These are all estimates. The title company will give you the actual amount depending on the city, county and particulars of the contract.

Title company escrow fee averaging $250
Document preparation $250
recording the deed $40
Any HOA transfer fees - range between $50-$300
Title policy is recommended although not needed if the seller is not paying for it about $434
A survey would also not be required but recommended and will vary depending on amount of land... it could be in the $$$

Naima
2 votes
Heather Lopez, , Aventura, FL
Thu Jun 12, 2008
Yes, there are closing cost for cash salebut not as much as if you were to do a conventional, fha or va loan. depends if you are the buyer or seller. seller has commission , search exam and closing fees doc stamps , tax prorate , ... uyer on the othe hand has recording fees, owner title policy .. if applicable title exam survey....you can get these info on hud website ..us department and urban development web site.
fees may vary based on state...always consult ...an attorney
1 vote
Debt Free Da…, , 85260
Thu Jun 12, 2008
You will still have recording fees and title and escrow fees. Just ask your title officer and they can give you a detailed list.
Web Reference:  http://GetPrequalified.com
1 vote
Bruce Lynn, Agent, Coppell, TX
Thu Jun 12, 2008
Yes. Have the title company you want to use run a sample closing statement for you. It won't be a lot, but title insurance is recommended, potentially a survey, escrow fees, doc prep fees, insurance, etc. If you're in Ranger and there is a significant amount of land you might also pay a landman to research mineral rights if you want them. I'd also pay an attorney to write the contract. Perhaps $200-$300....if your realtor is not invovled.
Web Reference:  http://www.teamlynn.com
1 vote
Dallas Texas, Agent, Dallas, TN
Thu Jun 12, 2008
Yes you will always have closing cost whether it is for a cash sale or financing. That includes if you were also selling a property. Your realtor or title company should be able to provide you that info.

http://www.lynn911.com
1 vote
allan erps,A…, Agent, Pearl River, NY
Thu Sep 13, 2012
Should certainly be... Title & Municipal searches, Transfer Tax, Recording fees, Attorney, and reimbursement of prepaid taxes.
0 votes
Scooty, Home Owner, Titusville, FL
Fri Jan 14, 2011
i bought a house for $25,900.00 and the taxes at the time was to be split from sell and buyer. But when the tax slip came it was for the ull amount. When i went back to the realtor and asked him about it he replied that instead of paying taxes they gave that money for my closing cost. Could this be true? There was talk of no closing cost because of it being a cash sale. Could this be true. Please help clarifiy this problem Thank You
sscooty2000@yahoo.com
0 votes
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