Home Buying in SoMa>Question Details

Talisa, Home Buyer in San Francisco, CA

How are closing fees, property taxes calculated for purchasing apartments in SF. What are all the costs?

Asked by Talisa, San Francisco, CA Wed Mar 5, 2008

involved in purchasing an apartment in SF and what are the tax benefits if any?

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Estimate 1-2% of purchase price. New Construction Developers may try to make you pay what traditionally the Seller pays. Stand your ground with them.

Paul Hwang
Your SoMa / South Beach Super Broker
Skybox Realty
Web Reference: http://www.paulhwang.com
0 votes Thank Flag Link Tue Jan 5, 2010
Hi Talisa,

I know of a BRAND NEW smaller contemporary condo complex in Walnut Creek near BART. A lot of people do not know about it since they do not advertise.

The builder is in financial trouble and pretty much giving these away at $499,000. Great Value. There are about 5 units left.

Send me your email and I wil send you the listing info.
0 votes Thank Flag Link Thu Nov 13, 2008
Buyer pays title insurance and other fees associated with your loan. TLoan fees vary exactly as Kevin said. Seller pays the transfer tax which is the largest fee after the borkerage fee which is also paid out of the sellers proceeds.
Web Reference: http://www.jedlane.com
0 votes Thank Flag Link Wed Mar 5, 2008
Jed Lane, Real Estate Pro in San Francisco, CA

Regarding closing fees, etc., I tell my clients to estimate about 1-2% of the purchase price for closing costs. The fees vary based on the timing of the sale -- e.g., pro rated property tax bill. The other costs, such as lender/bank fees, etc can vary as well.

That gives you a sense of the fees, but you will get a clearer estimate closer to the time that you would close escrow on a particular property. That closing statement will provide you with more exact numbers.

I hope that helps you to some extent to understand how much to estimate on associated closing costs.
0 votes Thank Flag Link Wed Mar 5, 2008
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