Princess, Home Buyer in Las Vegas, NV

Can anyone let me know the closing cost to buy a rental property in Las Vegas?

Asked by Princess, Las Vegas, NV Wed Dec 12, 2012

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6
Robert Adams, Agent, Henderson, NV
Wed Dec 12, 2012
This depends heavily on the specific property. I do not like to use percentages as they are not always accurate. As Matt & Kim stated below for a loan purchase 2%-3% closing costs can be expected. This is sometimes true and sometime not. For instance if you are buying a $300k home then the 2%-3% would probably be an accurate estimate of closing costs. However, if you are buying a $50k condo the same 2%-3% rule would not be accurate as some of the closing costs are fixed costs and not dependent upon a percentage of the sales price.

It also depends if the property has HOA's, or if it is a short sale the closing costs can be higher as well because the bank may refuse to pay for some of the seller's closing costs and pass those costs onto the buyer.

If you have a specific property in mind you can contact me directly or share it here and I would be happy to give you a more concise answer.


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
1 vote
Matthew D'Er…, Agent, Las Vegas, NV
Wed Dec 12, 2012
1 to 1.5% for cash deal, 2 to 3% for loan purchase. We are property management company with over 350 properties for our investors and have been in Vegas since 1976. We specialize helping investors/buyers. Let us know how we can help you achieve your goals. Matt and Kim.

Matthew and Kim D’Ercole
Prominent Realty Group, LLC
One Source Realty and Property Management
Buyer / Investors / Property Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
1 vote
Rena Levy, Agent, Las Vegas, NV
Wed Dec 12, 2012
Hi Princes
Depending where you are buying if within association or master plan community, you should be looking to pay:
Escrow fees, home owner's insurance, inspections, home warranty, Home Owner׳s association transfer fee, 3-4 months pro-rated property taxes, pro-rated sewer,trash,monthly associations dues. If the property is within local improvement district there will be assessment proration as well.
Also, some real estate companies have transaction fees .
On an average $ 100,000 property you can expect estimated $ 2500 for a cash deal. If you are financing the property, than add an additional estimated $ 2,000-$ 3,000 lender's fees.

For more detailed written fees, please email me at cvegashomes@gmail.com or call me at 702-612-7099. I specialize in working with investors since 1995 and licensed in two countries.
You can also visit my website at http://www.cvegashomes.com

Rena Levy
Broker/Associate
Certified International Property Specialist
702-940-4500
Realty Executives
Web Reference:  Http://www.cvegashomes.com
1 vote
Princess, Home Buyer, Las Vegas, NV
Wed Dec 12, 2012
Thanks so much for all of your kindly help!
0 votes
lvhomeproper…, Agent, Las Vegas, NV
Wed Dec 12, 2012
As a former mortgage broker, it always depends on many things. Cash?Loan? Hoa? taxes? My colleagues are all correct that it can vary 1-3%.
As a property manager now, I would be happy to break down all costs, and projected rents, dues,taxes, insurance and maintenance costs for you

James Battaglia
Elite Realty
8625 S Eastern
LV NV 89123
702-361-6994
lvhomeproperties.com
0 votes
David Cooper, Agent, Los Angeles, CA
Wed Dec 12, 2012
Hi Princess. If I find you an $80,000 rental house in a $100,000 neighborhood, closing costs of 3% on the high side is insignificant;

David Cooper Investor in Great Deals
http://www.lasvegaswinner.org
0 votes
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